Cardiol Therapeutics closes $17.25 million bought deal offering including full exercise of over-allotment option

1 minute read
04 June 2020

On June 4, 2020, Cardiol Therapeutics Inc. (TSX: CRDL) announced the closing of its previously announced bought deal short form prospectus offering of units for aggregate gross proceeds of $17,250,000 which includes the full exercise of the over-allotment option.

The offering was completed by a syndicate of underwriters led by Canaccord Genuity Corp. and included Raymond James Ltd., AltaCorp Capital Inc., and Echelon Wealth Partners Inc.

Cardiol is a leader in the production of pharmaceutical cannabidiol (CBD) and the development of innovative cannabidiol products for heart diseases.

Gowling WLG advised Cardiol with respect to this offering with a team that included Brett Kagetsu, Tara Amiri-Khaledi, Jill Dunn, Raymond Ong, Jason Mullins and Sarah Baddeley (corporate finance) and Brent Kerr and Anita Yuk (tax), with the assistance of paralegal Toni Vodola.

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