BURLINGTON, ONTARIO, CANADA, November 25, 2020 /EINPresswire.com/ — RAPID DOSE THERAPEUTICS SIGNS DEFINITIVE AGREEMENT TO ENABLE COMMERCIAL PRODUCTION OF ULTRAPURE THC™ DISTILLATE USING RDT’S NOVEL CBD TO THC CONVERSION TECHNOLOGY
Rapid Dose Therapeutics Corp. (“RDT” or the “Company”) (CSE: DOSE), a Canadian life sciences company focused on innovative drug and active ingredient delivery solutions is pleased to announce it signed a definitive agreement with ESJ Enterprises, LLC. RDT has licensed ESJ to produce Ultrapure THC (U-THC™) Delta 9 distillate using the RDT’s proprietary CBD to THC conversion technology.
Jason Lewis, RDT SVP Business Development said “Despite COVID-19 market challenges, RDT continues to demonstrate its focus on novel technological advancements. In conjunction with our licensee, we have proven the commercial capability of consistently producing Ultrapure THC Delta 9 distillate in mass quantities. THC from CBD derived from hemp is a major breakthrough in the cannabis industry. We can help manage global distillate shortages and allow consumers to benefit from an ultrapure regulated THC product.”
In conjunction with the McMaster University research team lead by Drs. James Mcnulty and Alex Nielsen, RDT has developed a process using its Genius Conversion Catalyst™ (GCC™) to transform CBD isolate into THC distillate with a selective Delta 9 or Delta 8 outcome at a rate of 99%. ESJ has worked with RDT to create a scalable process facility that can produce up to 100 kg of Ultrapure THC (U-THC™) Delta 9 distillate per day. By combining the steady supply of high-quality Isolera Extracts CBD isolate with the RDT GCC process, an unlimited amount of U-THC™ distillate is possible.
Production of the first 400 kg of U-THC™ distillate will be completed in Oklahoma prior to December 15, 2020, to fill a backlog of demand in the state. Continuous production of the Ultrapure THC will commence in Michigan in December 2020 to ensure cannabis processors there can meet their market supply requirements.
Jack Tatum, ESJ CEO, said “The combined effort of RDT and ESJ has created a unique way to solve the massive and continuous supply issues facing producers in most states. We are pleased with the working relationship and the joint focus on producing Ultrapure THC products with the intent to change the THC distillate market dynamics globally. The ESJ team has the equipment and proven experience to deliver on its contracts and quality promise and will continue to expand production.”
About Rapid Dose Therapeutics
Rapid Dose Therapeutics Corp. is a publicly-traded Canadian Life Sciences company providing innovative, proprietary drug delivery technologies designed to improve outcomes and quality of life. RDT offers Quick, Convenient, Precise, and Discreet™ choices to consumers. RDT is focused and committed to clinical research and product development for the healthcare manufacturing industry — including nutraceutical, pharmaceutical, and cannabis industries. Within the cannabis sector, RDT also provides a turn-key Managed Strip Service Program enabling RDT’s QuickStrip™ proprietary cannabis delivery technology to be licensed to select operators in identified markets. RDT’s service-based annuity contracts drive recurring revenue and facilitate rapid expansion into emerging markets across multiple consumer segments. RDT is committed to continually create innovative solutions for humans, animals, and plants.
For more information, visit: www.rapiddose.ca
For inquiries please contact:
Ofc (416) 477-1052
Managing Director Capital Markets
Ofc (416) 365-8012
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
Certain information in this news release may contain forward-looking information within the meaning of applicable securities laws.
Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend”, “will”, “could”, “are planned to”, “are expected to” or the negative of these terms and similar expressions. Statements containing forward-looking information, including, without limitation, in respect of the delivery of equipment and products using the QuickStrip™ product delivery method, the generation of recurring revenues and the dismissal of the CTT lawsuit, express, as at the date of this news release, the plans, estimates, forecasts, projections, expectations or beliefs of RDT management as to future events or results and are believed to be reasonable based on information currently available to RDT management. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; termination of WLM agreements; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the cannabis industry in Canada generally, income tax and regulatory matters; the ability to implement its business strategies; competition; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive. There can be no assurance that statements of forward-looking information, although considered reasonable by RDT management at the time of preparation, will prove to be accurate as there can be no assurance that the plans, intentions, or expectations upon which they are based will occur. Actual results and future events could differ materially from those anticipated in such forward-looking statements. Readers should not place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Source: EIN Presswire