Rapid Dose Therapeutics raises $3M via private placement

Rapid Dose Therapeutics (OTCPK:RDTCF) completes a private placement financing for up to $3M of gross proceeds.
It will consist of up to 3M units at a price of $1.00 per unit.
Each unit will consist of $1.00 principal amount of secured convertible notes and five common share purchase warrants.
The financing may close in one or more tranches.
All notes will have a maturity date of November 30, 2025 and will bear interest from their date of issue at 12.0% per annum.
The first $1M proceeds raised shall be used for general working capital purposes, with proceeds raised thereafter being used to first repay ~$750K principal of secured debt as well as any accrued and unpaid interest thereon.