Burlington, Ontario — December 1, 2025 — Leads & Copy — Rapid Dose Therapeutics Corp. (CSE: DOSE) plans to extend the maturity date of its outstanding secured convertible notes from a private placement financing.
The company announced that noteholders holding an aggregate of $3,084,445 of Notes have agreed to extend the maturity date on its Notes to November 30, 2026, and extend the expiry date on their accompanying common share purchase warrants to November 30, 2026 with an exercise price of $0.16.
These noteholders will receive an extension fee of 5%, payable in common shares at a price of $0.16 per share.
One noteholder holding a $50,000 Note was unable to extend the maturity date of their note and will have the principal repaid in cash.
The notes shall bear interest at 18% per annum, an increase from 12% per annum, calculated and compounded monthly, and added to principal and shall otherwise continue to be paid in accordance with the original terms of the Notes. Interest shall be payable quarterly in arrears in Common Shares at a price per share equal to the closing market price of the Common Shares on the Canadian Securities Exchange on the last trading day of each calendar quarter. The conversion price of the Notes will remain at $0.17 per share. The company will be permitted to prepay the Notes on 10 days’ advance notice without notice or bonus.
Rapid Dose Therapeutics intends to issue common shares in satisfaction of the accrued and unpaid interest on the notes for all noteholders, due on the initial maturity date of November 30, 2025. The company intends to issue common shares at the closing market price of the common shares on the CSE on November 28, 2025, in satisfaction of the aggregate of $62,860.65 of accrued interest owing on the notes at such time. The company expects to issue the common shares no later than December 15, 2025.
All securities issued pursuant to the extension as well as for payment of the accrued interest will be subject to a hold period expiring four months and one day from the date of issue of such securities.
Certain insiders of the company hold an aggregate of $1,696,371 of notes and participated in the Extension. Mark Upsdell, chief executive officer and a director of the company, holds $500,000 of notes and 2,500,000 warrants; John McKimm (via his holding company, Madison Partners Corporation), a director of the company, holds $346,371 of notes and 1,731,855 warrants; Christine Hrudka, a director of the company, holds $50,000 of notes and 250,000 warrants; and Angela O’Leary, a director of the company, holds $800,000 of notes and 4,000,000 warrants. Therefore, the extension is a related party transaction within the meaning of Multilateral Instrument 61-101 (“MI 61-101”).
The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Section 5.5(b) and Section 5.7(1)(a) in respect of such transaction. A resolution of the board of directors of the company was passed to approve the Extension.
Mark Upsdell, CEO, is the contact for investor relations and can be reached at investorrelations@rapid-dose.com or 416-477-1052.
Rapid Dose Therapeutics is a Canadian biotechnology company revolutionizing drug delivery through innovation. The company’s flagship product QuickStrip™ is a thin, orally dissolvable film, that can be infused with an infinite list of active ingredients, including nutraceuticals, pharmaceuticals and vaccines, that are delivered quickly into the bloodstream, resulting in rapid onset of the active ingredient.
Contact:
Mark Upsdell, CEO
investorrelations@rapid-dose.com
416-477-1052
Source: Rapid Dose Therapeutics Corp.
