Cardiol Therapeutics(US:CRDL) TMX Newsfile·2026-01-23 14:16Core Viewpoint - Cardiol Therapeutics Inc. has successfully completed a private placement of units, raising a total of $14.85 million to support its research and clinical development programs for heart disease therapies [1][3]. Financing Details - The company issued 11,423,078 units at a price of $1.30 per unit, which includes the full exercise of the over-allotment option by the underwriter [1]. - Each unit consists of one Class A common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at an exercise price of $1.75 for 24 months [2]. - The underwriter received a cash commission of 6% of the aggregate gross proceeds from the offering [2]. Use of Proceeds - The net proceeds from the financing will be utilized to advance research and clinical development programs, as well as for general administrative expenses and working capital [3]. Regulatory Compliance - The offering was conducted as a private placement under National Instrument 45-106, allowing sales to qualified investors in Canada, excluding Quebec [4]. - The units issued are not subject to resale restrictions in Canada under applicable securities laws [4]. Company Overview - Cardiol Therapeutics is focused on developing anti-inflammatory and anti-fibrotic therapies for heart disease, with its lead drug candidate, CardiolRx™, targeting inflammation and fibrosis associated with heart conditions [6]. - The company is conducting the MAVERIC Program to evaluate CardiolRx™ for recurrent pericarditis and has received Orphan Drug Designation from the U.S. FDA for this treatment [7]. - Additionally, the ARCHER Program is studying CardiolRx™ for acute myocarditis, a significant cause of heart failure in young adults [8]. - Cardiol is also developing CRD-38, a novel subcutaneous drug formulation for inflammatory heart disease, addressing a major healthcare cost issue in the U.S. [9].