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Cardiol Therapeutics Announces At-The-Market Equity Offering Program
Oakville, Ontario--(Newsfile Corp. - June 9, 2022) - Cardiol Therapeutics Inc. ( NASDAQ: CRDL ...
About this update from Cardiol Therapeutics Inc. Class A
[{"type":"text","content":"Cardiol Therapeutics Announces At-The-Market Equity Offering ProgramOakville, Ontario--(Newsfile Corp. - June 9, 2022) - Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) (\"Cardiol\" or the \"Company\"), a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of cardiovascular disease, is pleased to announce that it has entered into a sales agreement (the \"ATM Agreement\") with Canaccord Genuity LLC and Cantor Fitzgerald & Co. (the \"Sales Agents\") for an at-the-market offering program (the \"ATM Program\"). The ATM Agreement will allow the Company to offer and sell up to US$50 million of common shares of the Company (the \"Offered Shares\") under the ATM Program. The Offered Shares may be offered and sold by the Company to the public from time to time, through the sales agents. The Offered Shares sold under the ATM Program, if any, will be sold by means of ordinary brokers' transactions on the Nasdaq Capital Market (the \"Nasdaq\") or any other trading markets for the common shares in the United States at the prevailing market prices at the time of the sale. No Offered Shares will be offered or sold through the Toronto Stock Exchange or otherwise in Canada. The timing and extent of the use of the ATM Program will be at the discretion of the Company and the Company has no obligation to sell any shares pursuant to the ATM Program. Accordingly, total gross proceeds from offerings under the ATM Program could be less than US$50 million. The ATM Program will be effective until the earlier of the issuance and sale of all of the Offered Shares issuable pursuant to the ATM Program and March 8, 2024, unless terminated prior to such date by Cardiol or the sales agents.The sale of the Offered Shares through the ATM Program will be made pursuant to a prospectus supplement dated June 9, 2022 to the Company's Canadian final base shelf prospectus dated February 8, 2022, and the Company's United States final base shelf prospectus dated February 8, 2022 contained in the Company's registration statement Form F-10 (File No. 333-262342), as amended and effective on February 8, 2022, filed in each of the provinces and territories of Canada and in the United States with the United States Securities and Exchange Commission (the \"SEC\"). As out...