Rapid Therapeutic Completes $14 Million Acquisition of Razor Jacket
Razor Jacket is an Isolate Lab capable of producing up to 250 kilograms per month of 99.9% pure medical grade isolate
DALLAS, Dec. 01, 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, announced today that it has closed on a transaction acquiring all of the assets of Razor Jacket, LLC based in Hillsboro, Oregon. The transaction is valued at $14 million in cash and stock which includes all potential future earnouts of $13.2 Million.
An “isolate†is the ultra-pure form of any single cannabinoid, having no other chemical ingredients. This vertical acquisition assures RTSL the ability to manufacture “in house†any combination of CBD, CBG, CBN and/or terpenes up to a total of 250 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. The new lab being relocated to North Texas assures RTSL can make more than 3,000,000 MDI units annually without outsourcing. 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, “this acquisition does a lot for our growing company. We not only assure our supply of cannabinoids, but we pick up additional talent. Ryan Johnson is coming on as our COO responsible for marketing, and Frank Gill will be running the isolate lab. Both men are under three (3) year contracts. As such, we inherit a formidable marketing and scientific team with deep and important ties to the pharmaceutical space. With Ryan’s addition, I can concentrate more on strategic matters such as working on moving RTSL to a national exchange, exploring international manufacturing and initiating research.â€
RTSL’s new COO, Ryan Johnson states, “The first order of business is getting the new lab setup when it arrives from Oregon in about 30 days. We are taking steps to revamp our medical marketing process. During the recent Covid-19 pandemic, RTSL was able to ship about 8,000 units on a major contract; however, the remaining contact of 192,000 units has been abandoned by the distributor. The loss of business is something many business owners faced during this global pandemic. Looking forward, our projections for 2021 are to produce and sell over 2 Million MDI units, so we plan to rapidly scale up sales and production. Additionally, we are looking at filing three (3) patents in the near term and there will be more on this cutting-edge technology soon. As such, we have lots of work in front of us and it is an exciting time to be in this space.â€
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 Rxoidâ„¢ and nhÄler 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. nhÄler can be purchased online at www.nhaler.com. Rxoidâ„¢ currently is unavailable to purchase as its website is being updated. RTSL also produces white label products for select commercial clients.
Now RTSL is entering into the quickly evolving medical grade isolate manufacturing space. RTSL will manufacture CBD, CBG, CBN, and various other minor cannabinoids and terpenes under proprietary processes as it increases its ever growing list of formulas for support of various treatment regiments that physicians and health care providers are beginning to recommend in conjunction with more traditional mainstream medications
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.
Forward-Looking StatementsÂ
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.
Contact:
Donal (Don) R. Schmidt, Jr.
Chairman and CEO
info@rtslco.com
Phone: 800-497-6059
Fax: 877-676-8527
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