Cardiol Therapeutics (TSX: CRDL) (OTCQX: CRTPF), a leader in
the production of pharmaceutical cannabidiol (“CBD”) and the development of
innovative cannabidiol products for heart diseases, recently announced its
entry into an agreement with Canaccord Genuity Corp. (the “Lead Underwriter”).
Under the arrangement, the Lead Underwriter agreed, on behalf of a syndicate of
underwriters, to purchase, on a bought deal basis per the filing of a short
form prospectus, an aggregate of 4,500,000 units, each at a price of $2.50, for
aggregate gross proceeds of $11,250,000 to the Company. Cardiol intends to use
the proceeds to support commercialization of its pharmaceutical cannabidiol
products, its ongoing research and clinical development programs focused on
heart failure, additional product development, as well as for general corporate
purposes.
To view the full press release, visit http://ibn.fm/Pe1B9
About Cardiol Therapeutics
Cardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) is
focused on producing pharmaceutical cannabidiol (“CBD”) products and developing
innovative therapies for heart diseases, including acute myocarditis and other
causes of heart failure. The Company’s lead product, CardiolRx(TM), is
formulated to be the most consistent cannabidiol formulation on the market.
CardiolRx is pharmaceutically produced, manufactured under cGMP, and is THC
free (<5 ppm). The Company also plans to commercialize CardiolRx in the
billion-dollar market for medicinal cannabinoids in Canada and is pursuing
distribution opportunities in Europe and Latin America.
In heart failure, Cardiol is planning an international
clinical study of CardiolRx in acute myocarditis, a condition caused by
inflammation in heart tissue, which remains the most common cause of sudden
cardiac death in people less than 35 years of age. The Company is also
developing proprietary nanotechnology to uniquely deliver pharmaceutical
cannabidiol and other anti-inflammatory drugs directly to sites of inflammation
in the heart associated with heart failure. Heart failure is the leading cause
of death and hospitalization in North America with associated annual healthcare
costs in the U.S. alone exceeding $30 billion. For further information about
Cardiol Therapeutics, please visit CardiolRX.com.
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