Cardiol Therapeutics Announces Closing of Bought Deal Financing and Full Exercise of Over-Allotment Option for Gross Proceeds of $14.85 Million

Executive Summary

• Cardiol Therapeutics closed its previously announced private placement, issuing 11,423,078 units at $1.30 per unit for total gross proceeds of $14.85 million.
• The offering included full exercise of the underwriter’s over‑allotment option and was underwritten solely by Canaccord Genuity Corp.
• Net proceeds will be used to advance research and clinical development programs, as well as for general and administrative expenses, working capital, and other corporate purposes.

Key Details

• Units Issued: 11,423,078 units (each unit = 1 Class A common share + ½ warrant).
• Price per Unit: $1.30.
• Aggregate Gross Proceeds: $14.85 million.
• Over‑Allotment: Fully exercised by the underwriter, included in total proceeds.
• Warrant Terms: Each whole warrant allows purchase of one common share at an exercise price of $1.75 per share, exercisable for 24 months from issuance.
• Underwriting Fees: Cash commission equal to 6% of gross proceeds paid to Canaccord Genuity Corp.
• Use of Proceeds: Funding for research and clinical development programs; general & administrative expenses; working capital; other corporate needs.
• Regulatory Framework: Private placement conducted under National Instrument 45‑106 (Prospectus Exemptions) and the CSA Coordinated Blanket Order 45‑935; units not subject to resale restrictions in Canada.

Notable Quotes

(No direct quotes were provided in the release.)