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Cardiol Therapeutics Submits Application for Uplisting to the Nasdaq and Raises Proceeds of Over $10 Million from Exercise of Warrants and Options
Oakville, Ontario--(Newsfile Corp. - March 2, 2021) - Cardiol Therapeutics Inc. ( TSX: CRDL ...
About this update from Cardiol Therapeutics Inc. Class A
[{"type":"text","content":"Cardiol Therapeutics Submits Application for Uplisting to the Nasdaq and Raises Proceeds of Over $10 Million from Exercise of Warrants and OptionsOakville, Ontario--(Newsfile Corp. - March 2, 2021) - Cardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) (FSE: CT9) (\"Cardiol\" or the \"Company\"), a clinical-stage biotechnology company focused on developing innovative anti-inflammatory therapies for the treatment of cardiovascular disease, announced today that it has submitted an application to uplist the Company's common shares on The Nasdaq Capital Market® (the \"Nasdaq\") and that it has received proceeds of over $10 million from the exercise of warrants and stock options.\"The Nasdaq is the premier stock exchange for biotechnology companies, and we believe that this is an opportune time for Cardiol to formally apply for an uplisting of our common shares. We believe a Nasdaq listing will provide an ideal platform on which to build a leadership position in the treatment of inflammatory heart disease while elevating the Company's profile within the investment community,\" stated David Elsley, President and CEO of Cardiol Therapeutics. \"The receipt of proceeds from the exercise of warrants and stock options further strengthens our balance sheet as we initiate our Phase II/III clinical trial program in the United States. The trial, which is designed to investigate the cardioprotective properties of CardiolRx in 422 hospitalized COVID-19 patients with a prior history of, or risk factors for, cardiovascular disease, potentially positions the Company to report on the impact of our lead drug candidate on reducing major cardiovascular outcomes during 2021,\" concluded Mr. Elsley. The listing of the Company's common shares on the Nasdaq is subject to the approval of the Nasdaq and the satisfaction of all applicable listing criteria and requirements. No assurance can be given that such application will be approved or that such listing will be completed. If the Nasdaq listing occurs, the Company's common shares would no longer be listed on the OTCQX exchange. The Company plans to maintain its current listing on the TSX.About Cardiol TherapeuticsCardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) (FSE: CT9) is a clinical-stage biotechnology company focused on the research and clinical development of innovative anti-inflammatory ther...