SEC Form SUPPL filed by Cardiol Therapeutics Inc.
File No. 333-280713
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PROSPECTUS SUPPLEMENT AND THE ACCOMPANYING BASE SHELF PROSPECTUS
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Three Months Ended
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Year Ended
|
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March 31, 2023
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March 31, 2024
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December 31, 2022
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December 31, 2023
|
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Highest rate during the period
|
| | | | 1.3807 | | | | | | 1.3593 | | | | | | 1.3856 | | | | | | 1.3875 | | |
Lowest rate during the period
|
| | | | 1.3312 | | | | | | 1.3316 | | | | | | 1.2451 | | | | | | 1.3128 | | |
Average rate for the period
|
| | | | 1.3526 | | | | | | 1.3486 | | | | | | 1.3011 | | | | | | 1.3497 | | |
Rate at the end of the period
|
| | | | 1.3533 | | | | | | 1.355 | | | | | | 1.3544 | | | | | | 1.3226 | | |
Name of Person
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| |
Name and Address of Agent
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|
Dr. Guillermo Torre-Amione | | |
Cardiol Therapeutics Inc., Suite 602 – 2265 Upper Middle Road East, Oakville, Ontario L6H 0G5
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|
Michael J. Willner | | |
Cardiol Therapeutics Inc., Suite 602 – 2265 Upper Middle Road East, Oakville, Ontario L6H 0G5
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|
Colin Stott | | |
Cardiol Therapeutics Inc., Suite 602 – 2265 Upper Middle Road East, Oakville, Ontario L6H 0G5
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Jennifer Chao | | |
Cardiol Therapeutics Inc., Suite 602 – 2265 Upper Middle Road East, Oakville, Ontario L6H 0G5
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|
Teri Loxam | | |
Cardiol Therapeutics Inc., Suite 602 – 2265 Upper Middle Road East, Oakville, Ontario L6H 0G5
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Common Shares
Debt Securities
Warrants
Subscription Receipts
Units
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Name of Person
|
| |
Name and Address of Agent
|
|
Dr. Guillermo Torre-Amione | | |
Cardiol Therapeutics Inc., Suite 602 – 2265 Upper Middle Road East, Oakville, Ontario L6H 0G5
|
|
Michael J. Willner | | |
Cardiol Therapeutics Inc., Suite 602 – 2265 Upper Middle Road East, Oakville, Ontario L6H 0G5
|
|
Colin Stott | | |
Cardiol Therapeutics Inc., Suite 602 – 2265 Upper Middle Road East, Oakville, Ontario L6H 0G5
|
|
Jennifer Chao | | |
Cardiol Therapeutics Inc., Suite 602 – 2265 Upper Middle Road East, Oakville, Ontario L6H 0G5
|
|
Teri Loxam | | |
Cardiol Therapeutics Inc., Suite 602 – 2265 Upper Middle Road East, Oakville, Ontario L6H 0G5
|
|
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Three Months Ended
|
| |
Year Ended
|
| ||||||||||||||||||
| | |
March 31,
2023 |
| |
March 31,
2024 |
| |
December 31,
2022 |
| |
December 31,
2023 |
| ||||||||||||
Highest rate during the period
|
| | | | 1.3807 | | | | | | 1.3593 | | | | | | 1.3856 | | | | | | 1.3875 | | |
Lowest rate during the period
|
| | | | 1.3312 | | | | | | 1.3316 | | | | | | 1.2451 | | | | | | 1.3128 | | |
Average rate for the period
|
| | | | 1.3526 | | | | | | 1.3486 | | | | | | 1.3011 | | | | | | 1.3497 | | |
Rate at the end of the period
|
| | | | 1.3533 | | | | | | 1.355 | | | | | | 1.3544 | | | | | | 1.3226 | | |
Milestones and Business Objectives(1)
|
| |
Estimated Timeframe
for Completion(2) |
| |
Estimated
Cost(4) |
| |||
Complete Phase II MAvERIC-Pilot study in recurrent pericarditis with CardiolRx(5)(6)
|
| |
H2 2024
|
| | | $ | 500,000 | | |
Complete Phase III study in recurrent pericarditis with CardiolRx
|
| |
TBD(3)
|
| | | $ | 20,000,000 | | |
Complete Phase II ARCHER trial in acute myocarditis with CardiolRx(5)(7)
|
| |
H1 2025
|
| | | $ | 5,000,000 | | |
Initiate Phase III ARCHER trial in acute myocarditis with CardiolRx
|
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TBD(3)
|
| | | $ | 10,000,000 | | |
Advance the development of CRD-38 into a clinical program(5)(8)
|
| |
Q4 2024
|
| | | $ | 4,000,000 | | |
Complete Phase 1 study with CRD-38
|
| |
H2 2025
|
| | | $ | 2,500,000 | | |
Initiate Phase II study with CRD-38
|
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TBD(3)
|
| | | $ | 10,000,000 | | |
Designation
|
| |
Authorized
|
| |
Issued
|
| |
As at
March 31, 2024 (unaudited) |
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Cash and cash equivalents
|
| | | | | | | | | | | | | | | $ | 28,572,975 | | |
Share capital
|
| | | | Unlimited | | | | | | 68,283,708 | | | | | $ | 151,091,556 | | |
Warrants
|
| | | | 11,628,178(1) | | | | | | 11,628,178(1) | | | | | $ | 3,517,867 | | |
Contributed surplus
|
| | | | — | | | | | | — | | | | | $ | 17,206,183 | | |
Deficit
|
| | | | — | | | | | | — | | | | | $ | (151,756,434) | | |
Total Capitalization
|
| | | | | | | | | | | | | | | $ | 20,059,172 | | |
Month
|
| |
High ($)
|
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Low ($)
|
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Trading Volume
|
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July 1 – 11, 2024
|
| | | | 2.85 | | | | | | 2.51 | | | | | | 721,429 | | |
June 2024
|
| | | | 4.26 | | | | | | 2.42 | | | | | | 5,553,346 | | |
May 2024
|
| | | | 3.63 | | | | | | 2.63 | | | | | | 2,945,843 | | |
April 2024
|
| | | | 2.87 | | | | | | 2.15 | | | | | | 2,132,345 | | |
March 2024
|
| | | | 2.94 | | | | | | 1.81 | | | | | | 2,864,735 | | |
February 2024
|
| | | | 2.92 | | | | | | 1.32 | | | | | | 4,553,005 | | |
January 2024
|
| | | | 1.90 | | | | | | 1.13 | | | | | | 1,840,141 | | |
December 2023
|
| | | | 1.40 | | | | | | 1.07 | | | | | | 847,599 | | |
November 2023
|
| | | | 1.28 | | | | | | 1.02 | | | | | | 889,630 | | |
October 2023
|
| | | | 1.39 | | | | | | 0.91 | | | | | | 1,471,523 | | |
September 2023
|
| | | | 1.50 | | | | | | 1.17 | | | | | | 1,456,384 | | |
August 2023
|
| | | | 1.64 | | | | | | 1.18 | | | | | | 1,921,564 | | |
July 2023
|
| | | | 1.49 | | | | | | 1.01 | | | | | | 1,904,679 | | |
Date of Issuance
|
| |
Number of
Common Shares |
| |
Issuance Prices
(CAN$) |
| ||||||
August 8, 2023(3)
|
| | | | 500,000 | | | | | | N/A | | |
August 10, 2023(3)
|
| | | | 100,000 | | | | | | N/A | | |
Date of Issuance
|
| |
Number of
Common Shares |
| |
Issuance Prices
(CAN$) |
| ||||||
August 30, 2023(2)
|
| | | | 50,000 | | | | | | N/A | | |
September 29, 2023(2)
|
| | | | 20,245 | | | | | | N/A | | |
October 2, 2023(2)
|
| | | | 211,165 | | | | | | N/A | | |
November 2, 2023(2)
|
| | | | 105,000 | | | | | | N/A | | |
November 27, 2023(2)
|
| | | | 133,333 | | | | | | N/A | | |
December 1, 2023(2)
|
| | | | 105,000 | | | | | | N/A | | |
January 2, 2024(2)
|
| | | | 55,000 | | | | | | N/A | | |
January 11, 2024(1)
|
| | | | 75,000 | | | | | $ | 0.75 | | |
January 22, 2024(3)
|
| | | | 1,300,000 | | | | | | N/A | | |
February 9, 2024(2)
|
| | | | 1,306,429 | | | | | | N/A | | |
February 15, 2024(2)
|
| | | | 55,000 | | | | | | N/A | | |
February 28, 2024(1)
|
| | | | 25,000 | | | | | US$ | 1.00 | | |
March 1, 2024(2)
|
| | | | 100,000 | | | | | | N/A | | |
March 28, 2024(2)
|
| | | | 15,000 | | | | | | N/A | | |
April 10, 2024(2)
|
| | | | 64,605 | | | | | | N/A | | |
April 11, 2024(1)
|
| | | | 25,000 | | | | | $ | 0.75 | | |
May 7, 2024(1)
|
| | | | 25,000 | | | | | US$ | 1.00 | | |
May 8, 2024(3)
|
| | | | 600,000 | | | | | | N/A | | |
June 12, 2024(1)
|
| | | | 25,000 | | | | | US$ | 1.00 | | |
June 24, 2024(3)
|
| | | | 300,000 | | | | | | N/A | | |
July 3, 2024(2)
|
| | | | 68,157 | | | | | | N/A | | |
TOTAL | | | | | 5,263,934 | | | | | | N/A | | |
Date of Issuance
|
| |
Type of convertible security
|
| |
Number of
convertible securities Issued |
| |
Exercise Prices
(CAN$) |
| ||||||
June 25, 2023(1)
|
| |
Options
|
| | | | 400,000 | | | | | US$ | 1.00 | | |
June 25, 2023(1)
|
| |
Restricted Share Units
|
| | | | 300,000 | | | | | | N/A | | |
July 28, 2023(1)
|
| |
Restricted Share Units
|
| | | | 600,000 | | | | | | N/A | | |
Aug 3, 2023(1)
|
| |
Restricted Share Units
|
| | | | 375,000 | | | | | | N/A | | |
September 11, 2023(1)
|
| |
Options
|
| | | | 100,000 | | | | | US$ | 1.00 | | |
September 11, 2023(1)
|
| |
Performance Share Units
|
| | | | 2,000,000 | | | | | | N/A | | |
November 29, 2023(1)
|
| |
Options
|
| | | | 250,000 | | | | | US$ | 1.80 | | |
November 29, 2023(1)
|
| |
Options
|
| | | | 30,000 | | | | | $ | 1.20 | | |
March 1, 2024(1)
|
| |
Options
|
| | | | 455,000 | | | | | $ | 2.56 | | |
June 24, 2024(1)
|
| |
Performance Share Units
|
| | | | 300,000 | | | | | | N/A | | |
July 10, 2024(1)
|
| |
Restricted Share Units
|
| | | | 3,626,000 | | | | | | N/A | | |
TOTAL | | | | | | | | 9,661,000 | | | | | | N/A | | |