Rapid Therapeutic Enters Letter of Intent to Expand Production Capability to 3,000,000 MDI and $100,000,000 in Revenue Annually
LOI to acquire Isolate Lab which will increase internal production of up to 150 kilograms per month of 99.9% pure isolate
DALLAS, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Rapid Therapeutic Science Laboratories, Inc. (OTC: RTSL) an SEC fully-reporting, growth-oriented aerosol manufacturing and marketing company focused on employing FDA-approved Metered Dose Inhaler (MDI) technology to deliver cannabinoid compounds, such as CBD, CBG, and CBN, announces it has signed a letter of intent (LOI) to acquire all of the assets of Razor Jacket, LLC based in Hillsboro, Oregon in a cash and stock transaction.
Razor Jacket currently supplies medical grade CBD and CBG Isolate to RTSL. These isolates are the active ingredient in RTSL’s base formulas. An “isolate” is the ultra-pure form of any single cannabinoid, having no other chemical ingredients. This vertical acquisition assures RTSL of access to up to 150 kilograms a month of 99.9% pure isolate. Any isolate not consumed in RTSL’ primary products will be marketed as medical or pharmaceutical grade isolate directly to the health and wellness space. Without adding any additional capital, the lab can make sufficient production to assure RTSL can make in excess of 3,000,000 MDI units annually. Further, the acquisition will reduce RTSL’s cost of goods sold by approximately 50% per MDI unit.
RTSL’s CEO, Donal R. Schmidt, Jr. states, “There are a lot of manufacturers in the market who make fairly good isolate, but not good enough to use in the pulmonary route of administration. Razor Jacket’s highly customized state-of-the-art lab, which we are relocating to north Texas, is unrivaled and parts of its GMP which are unique in the isolate arena are going to be patented by RTSL as part of the trade. We also inherit a formidable marketing and scientific team with deep and important ties to the pharmaceutical space who are also relocating fulltime to Dallas. This broadens our footprint and moves us closer to our ultimate goal of having a full cGMP facility and ultimately FDA approved products. Plus by controlling our own isolate manufacturing we significantly improve the time previously spent on quality control related to sourcing of finished product. It is a real cost saver to us.”
RTSL’s Sr. VP, Sean Berrier, states, “We formally tested over 70 other isolate manufacturers’ CBD the last two (2) years. No one else’s product was even close in quality. We essentially vetted everyone in the market. Razor Jacket’s product is far superior to everyone else’s in my opinion. Bringing them on board is a real advantage in this space.”
Razor Jacket’s CEO, Ryan Johnson states, “We look forward to relocating to Dallas. The aerosol space is a perfect fit for the medical grade isolate we have been producing. Our unique relationship with major pharmaceutical players gives us a strategic advantage in how to make medical grade products as well as position the company for a potential buyout from big pharma.”
Schmidt also states, “Ryan Johnson will head up Marketing for RTSL and sit on the board of RTSL under a designation of board rights. I am looking forward to working with someone of his caliber in sales and marketing.”
About Rapid Therapeutic Science Laboratories, Inc. (OTC: RTSL)
RTSL has developed and perfected a new method of formulating and manufacturing pressurized metered dose inhalers (pMDI) that contain and properly aerosolize proprietary formulae consisting of one or more cannabinoid compounds, such as CBD, CBG, and/or CBN. The Company’s Rxoid™ and nhāler product lines are manufactured in compliance with Good Manufacturing Practices (GMP), on FDA-listed equipment. Note that while cannabinoids such as CBD, CBG and CBN are not yet approved by the FDA, under the laws of Texas and of many other states, it is legal to consume, sell and export them to legal jurisdictions.
Properly formulated MDI deliver Active Pharmaceutical Ingredients (API) (drugs, nutraceuticals or bioceuticals) through the pulmonary tract. An MDI is generally the most efficient delivery method for an API other than an IV. In addition, MDIs are less expensive than any other route of delivery, based on the net cost per bioactive mg as tested in blood serum levels. However, MDIs are expensive to formulate and difficult to manufacture in order to deliver cannabinoid compounds to the level required by the FDA and FTC truth in labelling laws. Ideally, a properly formulated, properly manufactured MDI containing cannabinoids will deliver exactly the same dose on its first use as well as its 100th use.
RTSL’s MDIs are a safe and technically superior replacement for vape pens, mods and all-in-one products because they use no heat, function perfectly without using dangerous ingredients, and deliver a 98% bioavailable dose of CBD and/or cannabinoids directly to the systemic blood stream. This allows RTSL to manufacture a scientifically sound and superior alternative to all other cannabinoid vaping systems in a market estimated to be $5 billion in annual sales.
RTSL products will continue to be sold directly to pharmacies, physicians and other healthcare providers who treat GAD, PTSD and other stress and anxiety disorders. nhāler can be purchased online at www.nhaler.com. Rxoid™ currently is unavailable to purchase as its website is being updated. RTSL also produces white label products for select commercial clients.
We encourage all individuals to do their own research regarding cannabinoids, the use of MDI and our products. RTSL makes no claims about therapeutic benefits of its products. None of our products are intended to diagnose, treat, cure, or prevent any disease. Always consult a physician prior to using any cannabinoid product. If you experience any adverse reaction 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).
Visit our corporate website at www.rtslco.com.
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 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. 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.
Donal (Don) R. Schmidt, Jr.
Chairman and CEO