02:44 PM EDT, 07/03/2025 (MT Newswires) -- Rapid Dose Therapeutics ( RDTCF ) on Thursday announced a payment in shares for quarterly interest on secured debt and separately announced the proposed issuance of shares as payment of director fees.

In a related statement, the company said as contemplated in the secured convertible notes previously issued on its private placement financing and consistent with prior quarters, it plans to issue common shares in satisfaction of the accrued interest payable on June 30, under the terms of the notes. The company expects to issue the common shares no later than July 15.

In another related statement, the company said it agreed with its non-management directors to issue common shares to them in exchange for the cancellation of director fees owing. It noted each of the five directors is owed $10,000 in fees for each of the fiscal quarters ended February 28, 2025 and May 31, 2025, for an aggregate total amount of $100,000 owing. The shares to be issued in payment of the debt will be issued at a deemed price of $.21, being equivalent to the closing market price of the company's common shares on the Canadian Securities Exchange on June 27, 2025. The company expects to issue the Debt Shares no later than July 15, 2025.

The company's shares were last seen up $0.01 to $0.21 on the Canadian Securities Exchange.

Price: 0.21, Change: +0.01, Percent Change: +5.00