DALLAS, Aug. 02, 2021 (GLOBE NEWSWIRE) -- Rapid Therapeutic Science Laboratories, Inc. (OTC Pink: RTSL) (“RTSL” or the “Company”), an SEC fully-reporting, growth-oriented aerosol manufacturing company focused on delivery of non-psychoactive cannabinoid compounds, announced today that it has entered into a definitive agreement with an institutional investor for the sale of a convertible promissory note with a principal amount of $1.9 million and warrants to purchase shares of the Company’s common stock, which will result in total gross proceeds of approximately $1.7 million. The closing of the offering is subject to customary closing conditions.
Maxim Group LLC is acting as the sole placement agent for the offering.
The convertible promissory note and warrants (and shares of common stock underlying the convertible promissory note and warrants) are being offering in a private placement and have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (SEC) or an applicable exemption from such registration requirements.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.
About Rapid Therapeutic Science Laboratories, Inc. (OTC Pink: RTSL)
RTSL is a biopharmaceutical company that has developed a new method of formulating and manufacturing pressurized metered dose inhalers (pMDI) that contain and properly aerosolize proprietary formula of one or more cannabinoid compounds. RTSL has developed and is continuing to develop a series of complementary products in addition to its inhaler. The Company’s nh?ler product line is manufactured in compliance with good manufacturing process (GMP).
CBD is not approved by the FDA.
We encourage all individuals to do their own research regarding cannabinoids, the use of MDI and our other products. Always consult a physician prior to using any cannabinoid product. RTSL makes no therapeutic claims regarding its products, the use of its products, or any results which can be obtained from using its products. None of our products are intended to diagnose, treat, cure, or prevent any disease. If you experience any adverse reaction of any non-psychotropic cannabinoid, stop use immediately and seek appropriate medical attention. RTSL’s products are not approved by the FDA or under the Food Drug & Cosmetics Act (FD&C Act). Our products contain zero THC.
Visit our corporate website at www.rtslco.com.
Forward-Looking Statements
This press release may contain forward-looking statements. In particular, when used in the preceding discussion, the words “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions are intended to identify forward-looking statements. Any statements made in this news release, including statements related to the closing of the offering, other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of RTSL, its divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in filings made by RTSL with the Securities and Exchange Commission, including, but not limited to, in the “Risk Factors” sections in its Form 10-Ks and Form 10-Qs and in its Form 8-Ks, which we have filed, and file from time to time, with the U.S. Securities and Exchange Commission. These reports are available at www.sec.gov.
Other unknown or unpredictable factors also could have material adverse effects on RTSL’s future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements which include, among others, statements related to the closing of the offering, the timing of the filing of patent applications, the failure to obtain patents for our products and processes, the costs associated therewith, a delay in, or the failure of, our filing of the planned IND, or the failure of the FDA to approve the IND, the outcome of studies, the planned timing of product availability, the demand for such products, and our ability to produce significant quantities of such products.
The forward-looking statements included in this press release are made only as of the date hereof. RTSL cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
Contact: Donal (Don) R. Schmidt, Jr.Chairman and CEOinfo@rtslco.com
Phone: 800-497-6059 Fax: 888-274-9120
