Bio-technology firm Rapid Dose Therapeutics Inc (CSE:DOSE), an investee business of medicinal cannabis investor Sativa Investments PLC (LON:SATI), has been admitted to trading on the Canadian Stock Exchange.
Sativa Investments, which is the UK’s first medicinal cannabis investment firm, subscribed for 400,000 shares at C$50 each in Rapid Dose Therapeutics for C$200,000 in cash ahead of the listing on Monday.
At the close on Monday, shares were trading hands at C$0.85 each.
Rapid Dose Therapeutics has developed a fast-dissolving medicinal cannabis strip, called Quickstrip, that is placed on or under the tongue, or inside the cheek. The company also sells pharmaceuticals, emulsified oils and over-the-counter medicines across North America.
The firm has made an initial paper profit of C$140,000 for Savita Investments, an increase of 70%, after just seven months.
"RDT's technology has very positive implications for both Sativa's medicinal cannabis business and its CBD (cannabidiol) focused 100% subsidiary George Botanicals Limited, and we look forward to continued collaboration with RDT alongside our investment."