OAKVILLE, ON, Nov. 2, 2021 /CNW/ - Cardiol Therapeutics
Inc. (NASDAQ: CRDL) (TSX: CRDL) ("Cardiol" or the
"Company"), a clinical-stage biotechnology company focused
on developing anti-inflammatory therapies for the treatment of
cardiovascular disease (CVD), has today filed a preliminary
prospectus supplement (the "Supplement") to its short form
base shelf prospectus dated August 3,
2021 (the "Base Prospectus") in connection with a
proposed public offering (the "Offering") of units (the
"Units"). Each Unit will consist of one Class A common share of the
Company (each, a "Unit Share") and one-half of one Class A
common share purchase warrant of the Company (each, a
"Warrant"). The Supplement was also filed with the U.S.
Securities Exchange and Commission (the "SEC"), as part of a
registration statement on Form-10, as amended, which was declared
effective by the SEC on August 4,
2021, in accordance with the Multijurisdictional Disclosure
System established between Canada
and the United States.
The Company intends to use the net proceeds from the Offering to
advance the Company's research and clinical development programs,
additional product development, and for general corporate
purposes.
Canaccord Genuity and Cantor Fitzgerald (the
"Underwriters") are acting as joint bookrunners in
connection with the Offering.
The Offering is expected to be priced in the context of the
market, with the final terms of the Offering to be determined at
the time of pricing. There can be no assurance as to whether or
when the Offering may be completed, or as to the actual size or
terms of the Offering. The closing of the Offering will be subject
to customary closing conditions, including the listing of the Unit
Shares and the Class A common shares issuable upon exercise of the
Warrants on the TSX and Nasdaq and any required approvals of each
exchange.
The Supplement and accompanying Base Prospectus contain
important detailed information about the Offering. The Supplement
and accompanying Base Prospectus can be found on SEDAR at
www.sedar.com and on EDGAR at www.sec.gov. Copies of the Supplement
and accompanying Base Prospectus may also be obtained from
Canaccord Genuity LLC, Attn: Syndicate Department, 99 High Street,
Suite 1200, Boston, Massachusetts
02110, or by email at prospectus@cgf.com or from Cantor Fitzgerald
& Co., Attn: Capital Markets, 499 Park Avenue, 4th floor,
New York, New York 10022; Email:
prospectus@cantor.com. Prospective investors should read the
Supplement and accompanying Base Prospectus and the other documents
the Company has filed before making an investment decision.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any province, state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
province, state or jurisdiction.
About Cardiol Therapeutics
Cardiol Therapeutics Inc. is a clinical-stage biotechnology
company focused on the research and clinical development of
anti-inflammatory therapies for the treatment of CVD.
Cautionary statement regarding forward-looking
information:
This news release contains "forward-looking information" under
applicable securities laws. All information that addresses
activities or developments that we expect to occur in the future is
forward-looking information. Forward-looking statements are based
on the estimates and opinions of management on the date the
statements are made. In this news release, such forward-looking
statements include, but are not limited to, statements regarding
the Offering, the anticipated size and terms of the Offering, and
the anticipated use of proceeds from the Offering. However, they
should not be regarded as a representation that any of the plans
will be achieved. Actual results may differ materially from those
set forth in this news release due to known and unknown risks and
uncertainties affecting the Cardiol, including market conditions,
access to capital, the successful design and completion of clinical
trials, the receipt and timely receipt of all regulatory approvals
and other risks detailed in the Supplement, the accompanying Base
Prospectus and the documents incorporated by reference therein.
Any forward-looking information speaks only as of the date on
which it is made and, except as may be required by applicable
securities laws, Cardiol disclaims any intent or obligation to
update or revise such forward-looking information, whether as a
result of new information, future events or results or otherwise.
Investors are cautioned not to rely on these forward-looking
statements and are encouraged to read the Supplement, the
accompanying Base Prospectus and the documents incorporated by
reference therein.
SOURCE Cardiol Therapeutics Inc.