Rapid Dose Announces Payment in Shares for Quarterly Interest on Secured Debt

Executive Summary

• Rapid Dose Therapeutics Corp. will issue ≈ 592,533 common shares to satisfy $94,806.23 of accrued interest on its secured convertible notes, with issuance expected no later than October 15, 2025.
• The shares will be issued at a deemed price of $0.16 per share (CSE closing price on September 30, 2025) and will be subject to a hold period of four months and one day.
• The underlying financing consisted of four tranches closed in 2023, raising $3,134,445 principal amount of notes and issuing 15,672,225 warrants at $1.00 per unit.

Key Details

• Financing structure (2023): 4‑tranche private placement; each unit = $1.00 principal note + 5 common‑share purchase warrants; price = $1.00 per unit.
• Aggregate amounts raised: $3,134,445 principal amount of notes; 15,672,225 warrants issued.
• Notes terms: 12.0% annual interest (monthly accrual), maturity = Nov 30, 2025; interest payable quarterly in common shares at the CSE closing price on the last trading day of each quarter.
• Accrued interest as of Sep 30, 2025: $94,806.23.
• Share issuance to settle interest: 592,533 common shares at a deemed issue price of $0.16 per share (CSE closing price on Sep 30, 2025).
• Issuance timeline: Expected no later than Oct 15, 2025.
• Hold period: Shares issued for accrued‑interest payment are restricted from resale for four months and one day from the issuance date.

Notable Quotes

(No executive quotes were provided in the release.)