DALLAS, July 14, 2020 (GLOBE NEWSWIRE) -- Rapid
Therapeutic Science Laboratories, Inc. (OTC: RTSL)
an SEC fully-reporting, growth-oriented
manufacturing and marketing company focused on
employing FDA-approved Metered Dose Inhaler (MDI)
technology to deliver aerosolized cannabinoids, such
as CBD, CBG, and THC, announced today that it has
delivered an additional 6,000 units (8,000 total)
under its previously announced 100,000 unit order
that was recently expanded to 250,000 units.
The Company has leased a state-of-the-art lab tested
to ISO 6 standards and maintains general
facility/process controls in its environmentally
filtered operations, as part of compliance with FDA
Good Manufacturing Practices (GMP) related to ISO
13485. This lab will allow the company to
pursue RTSL’s stated goal of FDA registration of all
RTSL products.
Rapid Therapeutic Science Laboratories, Inc.
Chairman and CEO, Donal R. Schmidt, Jr. stated,
“This 6,000-unit lot was the last production run
before we relocated to our new ISO 13485 lab. Our
new lab allows us to manufacture a higher-quality
product more quickly, and with less waste than we
could previously.”
Mr. Schmidt continued, “With an estimated gross
margin of approximately $20 per unit, this order for
250,000 units, by itself, could represent up to
$5,000,000 in gross profit for the Company.
Our RxoidTM CBD
Inhalers are currently being sold through doctors’
offices and in pharmacies across the United States.”
Palm Beach, FL – June 30, 2020 – Just a few years
ago, not many people knew what CBD is… or does.
Things have really changed so much so that now, it’s
harder to find someone who does not know
what it is! A recent report said that 86% of
Americans know about CBD and 1 in 5 have used it,
according to a new analysis by New Frontier Data. It
said: “Findings in the report suggest that
cannabidiol (CBD) has never been more popular in the
United States… Relatively unknown only years ago,
CBD has since exploded into a fast-growing market
that generates as much as $1 billion in domestic
sales. The now widely recognized cannabis compound
is used to promote health and wellness in users. The
new nationally representative survey indicates that
usage rates of CBD are rising.” “Our research shows
that 1 in 5 Americans have used CBD, which
demonstrates a major jump in consumer interest in
the sector,” said New Frontier Data Founder & CEO
Giadha Aguirre de Carcer. “While this phenomena is
taking root across many other regions such as Europe
and Latin America, the United States continues to
represent the largest CBD market; understanding its
CBD consumers is therefore a priority for
enterprises within both the legal cannabis industry
and a multitude of mature sectors such as Food &
Beverage or Health & Beauty.” Mentioned in
today’s commentary include: Canopy
Growth Corporation (NYSE: CGC)
(TSX: WEED), Rapid
Therapeutic Science Laboratories, Inc. (OTCPK:
RTSL), Village
Farms International, Inc. (NASDAQ:
VFF) (TSX: VFF), Cronos
Group Inc. (NASDAQ: CRON)
(TSX: CRON), CV
Sciences, Inc. (OTCQB: CVSI).
And there is hope in the industry that once FDA
approvals begin being granted, the market will have
yet another infusion to even further boost the
markets revenues. The FDA recently said:
“The marketplace for CBD-containing products is
quickly evolving and it is critical that we work
together with stakeholders and industry to develop
high-quality data to close the knowledge gaps about
the science, safety and quality of many of these
products, as well as further evaluate any potential
benefits… “
Rapid Therapeutic Science Laboratories, Inc. (OTCPK:
RTSL) Breaking
News: Rapid Therapeutic Enters Contract for
Certified Lab for Manufacturing Consistent with FDA
Rules – Rapid Therapeutic
Science Laboratories (the “Company” or “RTSL”), a
SEC fully-reporting, growth-oriented company focused
on manufacturing and marketing aerosol delivery
systems based on pressurized Metered Dose Inhaler
(MDI) technology, announced today that it has
executed a contract leasing a new state-of-the-art
laboratory. The laboratory is being certified
for manufacturing under Food and Drug Administration
(FDA) rules.
Rapid Therapeutic Science Laboratories, Inc.
Chairman and CEO, Donal R. Schmidt, Jr. stated, “We
are extremely pleased to announce the Company has
leased a state-of-the-art lab tested to ISO 6
standards. This lab will allow us to immediately
pursue RTSL’s stated goal of FDA registration of all
RTSL products. RTSL will immediately begin
manufacturing according to ISO 13485 standards for
medical devices.” https://www.iso.org/iso-13485-medical-devices.html. https://www.iso.org/standard/59752.html.
The FDA adopted this standard in 2018. https://www.iso.org/news/ref2318.html.
Sean Berrier, Sr. VP and Co-founder commented: “RTSL
will not maintain the lab as a certified “clean
room,” instead the Company maintains general
facility/process controls in its environmentally
filtered operations, as part of compliance with FDA
Good Manufacturing Practices (GMP) related to ISO
13485. Nevertheless, RTSL will periodically
perform random testing to assess initial set-up,
filter functional efficacy, personnel gowning
consistency, and general process stability. Under
ISO 13485 the lab rooms will function as “control
rooms.” The goal is to organize layout, and minimize
overhead particulate matter, thereby optimizing
process flow and reducing product fallout. This
allows for RTSL to manufacture a class II medical
device under GMP. We believe we are one of only a
handful of companies manufacturing CBD consumer
products with this level of sophistication. This lab
gives our clients a high level of assurance that our
products are safe and clean with no adulterations.” Read
the full Press Release and more for RTSL
at: https://www.financialnewsmedia.com/news-rtsl
In other active
company news in the markets this week:
Cronos Group Inc. (NASDAQ: CRON) (TSX:
CRON) recently
announced that that at its
Annual and Special Meeting of Shareholders held
earlier today (the “Meeting”) there were 652
shareholders voting in person or by proxy holding in
total 195,124,634 common shares of the Company,
representing 55.94% of the total number of common
shares of the Company outstanding.
Each of the directors listed as a nominee in the
Company’s proxy statement dated April 28, 2020 (the
“Proxy Statement”) was elected as a director of the
Company, with each director receiving in excess of
97.10% of the votes cast in favor of his or her
election.
The Company also announced today that the
shareholders have approved a special resolution
authorizing the Company to make an application for
the continuance of the Company from the laws of the
Province of Ontario to the laws of the Province of
British Columbia, as further described in the Proxy
Statement (the “Continuance”). The Company believes
the greater flexibility afforded by the British
Columbia corporate statute by virtue of the absence
of a Canadian residency requirement for members of
the board of directors of the Company (the “Board”)
will allow the Company to consider Board candidates
from a larger pool of candidates to ensure the Board
maintains the right composition, skills, expertise
and diversity to drive long-term value. The
completion of the Continuance remains subject to the
satisfaction of the conditions described in the
Proxy Statement.
Canopy Growth Corporation (NYSE:
CGC) (TSX: WEED) and Acreage Holdings, Inc.
(“Acreage”) recently
announced they have entered
into an agreement (the “New Agreement”) to amend the
terms of the arrangement agreement dated April 18,
2019, as amended on May 15, 2019, between Canopy
Growth and Acreage (the “Arrangement Agreement”).
Pursuant to the Arrangement Agreement, Canopy Growth
agreed to acquire all of the issued and outstanding
securities of Acreage pursuant to a plan of
arrangement under the Business Corporations
Act (British Columbia) (the “Plan of Arrangement”),
contingent upon the occurrence of changes in U.S.
federal law to permit the general cultivation,
distribution, and possession of marijuana (the
“Triggering Event”) and subject to the satisfaction
or waiver of certain conditions to closing as set
out in the Arrangement Agreement.
CV Sciences, Inc. (OTCQB:
CVSI) recently
announced the publication of
two research studies demonstrating the safety and
health benefits of PlusCBD™ products. Both
studies were published in the Journal of Dietary
Supplements. The first study adds to the
growing body of literature that supports the safe
use of hemp derived CBD as a dietary supplement. The
data confirm a low rate of adverse effects in
millions of consumers taking PlusCBD™ products over
a two-year period. A noteworthy finding was the
absence of any reports of liver toxicity, which has
been described in studies using high doses of CBD as
a prescription drug.
Lead author Stephen Schmitz, MD, MPH and co-founder
of Supplement Safety Solutions, stated, “This is the
first longitudinal study of a CBD dietary supplement
being used in real-world conditions. This study
represents two years of data and daily product use
from millions of consumers and demonstrates that CV
Sciences’ products are safe and well tolerated.”
Village Farms International, Inc. (NASDAQ:
VFF) (TSX: VFF) recently
announced its majority-owned
joint venture for large-scale, low-cost,
high-quality cannabis production, Pure Sunfarms, has
begun shipping branded, packaged dried flower
products to Saskatchewan following approval from the
Saskatchewan Liquor and Gaming Authority (the
“SLGA”), the provincial regulator responsible for
permitting and monitoring the operation of local
cannabis wholesalers and retailers in the Province.
Pure Sunfarms expects its products to be available
to Saskatchewanconsumers beginning next week.
Saskatchewan ranks as the fifth largest Canadian
province by cannabis sales, comprising approximately
6% of the country’s total sales1 and
has the second highest per capita spend on cannabis
of the five largest provinces1 (behind Alberta). Saskatchewan currently
has 44 licensed retailers and with the SLGA’s
announcement to move towards an open market cannabis
model by September of this year, there will be no
cap on the number of dispensaries permitted in
municipalities provincewide which is expected to
give more consumers access to product.
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