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Cardiol Therapeutics Submits Application for Uplisting to the Nasdaq and Raises Proceeds of Over $10 Million from Exercise of Warrants and Options

Cardiol Therapeutics Inc. a scientific-phase biotechnology enterprise concentrated on acquiring revolutionary anti-inflammatory therapies for the procedure of cardiovascular condition, announced these days that it has submitted an application to uplist the Company’s typical shares on The Nasdaq Funds Market® and that it has received proceeds of above $10 million from the exercising of warrants and stock selections.”The Nasdaq is the …

Cardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) (FSE: CT9) (“Cardiol” or the “Company”), a clinical-phase biotechnology company targeted on building innovative anti-inflammatory therapies for the treatment method of cardiovascular disorder, announced these days that it has submitted an application to uplist the Company’s typical shares on The Nasdaq Funds Market® (the “Nasdaq”) and that it has received proceeds of more than $10 million from the work out of warrants and stock options.

“The Nasdaq is the leading stock exchange for biotechnology providers, and we think that this is an opportune time for Cardiol to formally use for an uplisting of our typical shares. We believe that a Nasdaq listing will deliver an ideal platform on which to build a leadership place in the therapy of inflammatory heart sickness whilst elevating the Company’s profile within the investment neighborhood,” said David Elsley, President and CEO of Cardiol Therapeutics.

“The receipt of proceeds from the training of warrants and stock solutions additional strengthens our stability sheet as we initiate our Phase II/III scientific demo plan in the United States. The trial, which is created to look into the cardioprotective properties of CardiolRx in 422 hospitalized COVID-19 clients with a prior historical past of, or risk elements for, cardiovascular disorder, most likely positions the Corporation to report on the impression of our direct drug prospect on decreasing important cardiovascular results during 2021,” concluded Mr. Elsley.

The listing of the Company’s prevalent shares on the Nasdaq is issue to the approval of the Nasdaq and the fulfillment of all applicable listing requirements and requirements. No assurance can be provided that this sort of application will be authorized or that these listing will be done. If the Nasdaq listing happens, the Company’s frequent shares would no for a longer time be listed on the OTCQX trade. The Company strategies to manage its latest listing on the TSX.

About Cardiol Therapeutics

Cardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) (FSE: CT9) is a medical-phase biotechnology firm centered on the investigation and scientific development of impressive anti-inflammatory therapies for the therapy of cardiovascular ailment (“CVD”). The Company’s direct products, CardiolRx™, is a pharmaceutically produced oral cannabidiol formulation that is presently coming into a Stage II/III outcomes analyze in hospitalized clients screening constructive for the COVID-19 virus. This potentially registrational demo is intended to appraise the efficacy and basic safety of CardiolRx as a cardioprotective therapy to cut down mortality and big cardiovascular gatherings in COVID-19 people who have a prior background of, or possibility components for, CVD, and to look into the influence CardiolRx has on crucial markers of inflammatory coronary heart ailment.

Cardiol is also arranging to file an investigational new drug (“IND”) application for a Stage II worldwide demo that will examine the anti-inflammatory and anti-fibrotic attributes of CardiolRx in clients with acute myocarditis, which continues to be the most common lead to of unexpected cardiac loss of life in persons less than 35 yrs of age. In addition, Cardiol is establishing a subcutaneous formulation of CardiolRx and other anti-inflammatory therapies for the procedure of chronic heart failure – a leading cause of dying and hospitalization in North The usa, with related yearly healthcare prices in the U.S. alone exceeding $30 billion.

Cardiol not too long ago commercialized Cortalex™ (cortalex.com) in the Canadian marketplace. Cortalex is a pharmaceutically developed cannabidiol formulation, created for individuals who desire to stay away from tetrahydrocannabinol (“THC”) or for whom THC exposure is not suggested. For more details about Cardiol Therapeutics, be sure to take a look at cardiolrx.com.

Cautionary assertion pertaining to forward-hunting information:

This information release is made up of “forward-searching information” within the indicating of applicable Canadian securities laws. All statements, other than statements of historic reality, that address functions, functions, or developments that Cardiol Therapeutics Inc. (“Cardiol” or the “Company”) thinks, expects, or anticipates will, could, could or could possibly manifest in the long term are “forward-searching information.” Forward-hunting data contained herein may consist of, statements relating to the Company’s options for medical trials and its growth of innovative anti-inflammatory therapies for the remedy of cardiovascular disease. Ahead-hunting details contained herein displays the present-day expectations or beliefs of Cardiol based mostly on data at present obtainable to it and is subject to a range of known and unfamiliar hazards and uncertainties and other elements that could trigger the real occasions or success to differ materially from any foreseeable future benefits, effectiveness or achievements expressed or implied by the ahead-looking facts, and are not (and should not be thought of to be) guarantees of upcoming general performance. These challenges and uncertainties and other variables incorporate the challenges and uncertainties referred to in the Company’s Annual Facts Form dated March 30, 2020, such as the risks and uncertainties associated with product or service commercialization and clinical scientific studies. These hazards, uncertainties and other things should really be viewed as very carefully, and buyers should really not spot undue reliance on the ahead-hunting info. Any ahead-looking data speaks only as of the date on which it is built and, apart from as may be required by applicable securities legislation, Cardiol disclaims any intent or obligation to update or revise these forward-on the lookout facts, no matter whether as a outcome of new information and facts, foreseeable future functions or final results or in any other case.

For further data, remember to get hold of:

David Elsley, President & CEO +1-289-910-0850
[email protected]

Trevor Burns, Investor Relations +1-289-910-0855
[email protected]

To look at the resource edition of this press launch, be sure to go to https://www.newsfilecorp.com/launch/75792