Rapid Dose Therapeutics Extends Maturity Date of Convertible Notes

Rapid Dose Therapeutics Corp. (CSE: DOSE) — “RDT” — announced on November 28, 2025 that it will extend the maturity date of its outstanding secured convertible notes, originally due on November 30, 2025, by one year to November 30, 2026. The convertible notes were issued as part of a private placement financing in 2023. Each unit in the financing cost US$ 1.00 and consisted of US$ 1.00 principal amount of notes (convertible at US$ 0.17 per share) plus five warrants to purchase common shares, with warrant exercise prices between US$ 0.14 and US$ 0.17 per share; the original expiry date for the warrants was November 30, 2025. In total, the financing issued US$ 3,134,445 in principal notes and 15,672,225 warrants. Under the extension deal, noteholders holding US$ 3,084,445 of the notes agreed to: Extend the notes’ maturity date to November 30, 2026. Extend the expiry date of their associated purchase warrants to November 30, 2026, with a revised exercise price of US$ 0.16 per share. Receive a 5% extension fee, to be paid in common shares at US$ 0.16 per share. One noteholder, holding a US$ 50,000 note, did not agree to the extension — their note will be repaid in cash rather than extended. As part of the extension, the interest rate on the notes will increase from 12% per annum to 18% per annum, compounded monthly and added to the principal. Interest will continue to be paid quarterly in arrears, in the form of common shares, based on the closing market price of the company’s stock on the Canadian Securities Exchange (CSE) on the last trading day of each quarter. The notes remain convertible at US$ 0.17 per share. The company also retains the right to prepay the notes at any time with 10 days’ advance notice, without bonus or penalty. Additionally — and as previously announced — RDT plans to satisfy the accrued and unpaid interest on the notes for the period up to the original maturity date (November 30, 2025) by issuing common shares instead of cash. As of November 28, 2025 (the last trading day of the month), the amount of accrued interest owed is US$ 62,860.65. The company expects to issue these shares by December 15, 2025. All new securities issued under the extension — including shares for the extension fee and for accrued interest — will be subject to a hold period lasting four months and one day from their issuance date. Notably, insiders of the company hold a substantial portion of the notes being extended. Together, insiders hold US$ 1,696,371 of notes and participated in the extension. Among them: the CEO holds US$ 500,000 in notes and 2.5 million warrants; another director, via his holding company, holds US$ 346,371 and 1.73 million warrants; a third director holds US$ 50,000 and 250,000 warrants; and a fourth director holds US$ 800,000 and 4.0 million warrants. Because of this, the extension qualifies as a “related‑party transaction” under Multilateral Instrument 61-101 (MI 61-101). However, RDT is relying on exemptions under MI 61-101 — specifically that the company is listed on the CSE (Section 5.5(b)) and that the value of the extension in relation to insiders does not exceed 25% of the company’s market cap (Section 5.7(1)(a)). The board of directors passed a resolution to approve the extension. In short: RDT has secured additional time to repay its convertible notes, increased the interest rate, offered warrant‑holders an extended exercise window and a share‑based extension fee, and prepared to satisfy accrued interest via share issuance — all while ensuring compliance under securities regulations despite related‑party involvement. #RapidDose #ConvertibleNotes #BiotechFinance #CSEStocks #SlimScan #GrowthStocks #CANSLIM