Oakville, Ontario--(Newsfile Corp. - March 6, 2019) - Cardiol Therapeutics Inc. (TSX: CRDL) ("Cardiol" or the
"Company"), a leader in the research and commercial development of pharmaceutical cannabidiol products and targeted
therapies for heart failure and cancer, is pleased to announce the appointment of Thomas (Tom) Moffatt, BBA, as Chief Commercial
Officer.
Mr. Moffatt was most recently the Chief Operating Officer and Vice-President, Operations at Rx Drug Mart Inc., where he was
responsible for the growth, marketing, and development of all operations for more than 45 stores, including marketing, personnel,
and strategic activities. Established in 2015, Rx Drug Mart is a pharmacy retail organization that brings the priority back to the
pharmacy, the patient, and the community.
Tom gained extensive experience during a tenure of more than 20 years at Shoppers Drug Mart, where he honed his analytical
skills, specifically in the areas of finance, marketing, communications and development, P&L, merchandising, and corporate
strategy. He rose through the ranks from Director Operations Ontario West, to National Vice-President Operations and Strategy.
Shoppers Drug Mart is Canada's leading drug store retailer, with more than 1,300 pharmacist-owned locations across Canada.
Following his wide-ranging career at Shoppers Drug Mart, Mr. Moffatt joined World Vintners Inc. where he was Senior
Vice-President Retail and Corporate Development, Corporate Secretary, and President Retail. Tom oversaw the company's purchase and
merger of two wine-producing and retail entities prior to their sale in 2008. He also developed and launched new wine brands
specifically for big-box retailers and Independent Wine Dealers.
From 2010 to 2015, Mr. Moffatt was Senior Director of Mergers and Acquisitions/Pharmacy Operations at Loblaw Companies Ltd. and
participated in the successful acquisition of Shoppers Drug Mart. Tom also established the current set of operational standards for
the 503-store pharmacy group.
"It is a pleasure to welcome Tom to our team. We are fortunate to have attracted a senior retail executive with extensive
operational management skills in the pharmaceutical retail environment," said David Elsley, President and CEO of Cardiol
Therapeutics. "Tom's experience in retail operations, merchandising, and corporate strategy will be invaluable as we prepare to
launch our ultra-pure, THC-free, cGMP pharmaceutical CBD products into the Canadian medicinal cannabinoids marketplace."
Mr. Moffatt graduated from the Humber Institute of Technology and Applied Learning with a Bachelor of Business Administration
and has completed the Executive Development Program at York University's Schulich School of Business.
About Cardiol Therapeutics
Cardiol Therapeutics Inc., www.cardiolrx.com,
is a leader in the research and commercial development of pharmaceutical cannabidiol products and targeted therapies for heart
failure and cancer. The Company is leveraging its expertise in pharmaceutical cannabinoids to develop proprietary formulations for
three important medical markets: (1) commercializing a line of >99.5% purity pharmaceutically- manufactured cannabidiol products
(with less than 10 ppm THC) in the market for medical cannabinoids, projected to reach $2.31 billion in Canada by 2021 (Source: New
Frontier Data); (2) developing nanotechnologies designed to deliver cannabinoids and other anti-inflammatory drugs for the
treatment of heart failure, a leading cause of death and hospitalization with associated healthcare costs exceeding $30 billion
annually in the U.S. alone; and (3) pursuing an immunotherapeutics program commencing with an innovative cancer immunotherapeutic
in combination with cannabinoids for treating Glioblastoma Multiforme, the most malignant and deadly form of cancer of the central
nervous system and a Fast Track eligible Orphan Indication.
Cardiol has research programs focused on developing nanotherapeutics to treat heart failure underway at international centers
of excellence, including the University of Alberta, the Houston Methodist DeBakey Heart & Vascular Center, and TecSalud del
Tecnológico de Monterrey, Mexico. Cardiol has also established an exclusive supply agreement with Dalton Pharma Services
("Dalton"), a Health Canada approved, U.S. Food and Drug Administration registered, Continuing Good Manufacturing
Practice ("cGMP") manufacturer of pharmaceuticals, including cannabinoids, for supplying finished pharmaceutically
manufactured cannabidiol products to support the Company's research and commercial development programs. Cardiol has entered into
an exclusive supply agreement with Noramco, Inc., a global leader in the manufacture and supply of controlled drug substance Active
Pharmaceutical Ingredients, to support Dalton's manufacturing with cannabidiol at >99.5% purity and less than 10 ppm
THC.
Cardiol brings together a wealth of research and development experience, advanced manufacturing capabilities, and a
Management team, Board of Directors, and Scientific Advisory Board comprising business and thought leaders with extensive industry
experience and expertise in commercializing proprietary drugs.
For further information, please contact:
David Elsley, President & CEO
905.491.6793
david.elsley@cardiolrx.com
Trevor Burns, Investor Relations
905.491.6791
trevor.burns@cardiolrx.com
Cautionary statement regarding forward-looking information:
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws which may
include, but is not limited to, statements with respect to: future events; the future performance or the intended business strategy
of Cardiol Therapeutics Inc. ("Cardiol"); the potential for Cardiol's licensed drug encapsulation and delivery technologies to
enhance the bioavailability of pharmaceuticals; management's expectations regarding estimated future pharmaceutical research and
development opportunities, collaborations and prospects; the success and proposed timing of Cardiol's product development
activities, including, but not limited to, the proposed timeline of Cardiol's product candidate pipeline for commercial
introduction; the ability of Cardiol to develop its product candidates; Cardiol's plans to research, discover, evaluate and develop
additional products; Cardiol's proposed future collaborations to advance Cardiol's lead nanoformulations into clinical development;
and the potential for Cardiol's cannabinoid-based products to provide sources of future revenue. All statements, other than
statements of historical fact, that address activities, events or developments that Cardiol believes, expects or anticipates will,
may, could or might occur in the future are "forward-looking information".
Forward-looking information is frequently identified by the use of words such as "plans", "expects", "projects", "intends",
"believes", "anticipates", "forecasts", and other similar words and phrases, including variations (and negative variations) of such
words and phrases, or may be identified by statements to the effect that certain actions, events or conditions "may",
"could", "should", "would", or "will" be taken, occur or be achieved. Forward-looking information contained herein reflects the
current expectations or beliefs of Cardiol based on information currently available to it and is subject to a variety of known and
unknown risks and uncertainties and other factors that could cause the actual events or results to differ materially from any
future results, performance or achievements expressed or implied by the forward-looking information. These risks and uncertainties
and other factors include that the success of Cardiol's product candidates will require significant capital resources and years of
clinical development efforts; the results of clinical testing and trial activities of Cardiol's products; Cardiol's ability to
obtain regulatory approval and market acceptance of its products; Cardiol's ability to raise capital and the availability of future
financing; Cardiol's lack of operating history; unforeseeable deficiencies in the development of Cardiol's product candidates;
uncertainties relating to the availability and costs of financing needed in the future for Cardiol's research and development
initiatives; Cardiol's ability to manage its research, development, growth and operating expenses; the potential
failure of clinical trials to demonstrate acceptable levels of safety and efficacy of Cardiol's product candidates; Cardiol's
ability to retain key management and other personnel; risks related to fluctuations in medicinal cannabinoid markets in
Canada and worldwide; uncertainties regarding Cardiol's ongoing collaborative and manufacturing partnerships; uncertainties
regarding results of researching and developing products for human use; Cardiol competes in a highly competitive and evolving
industry; Cardiol's ability to obtain and maintain current and future intellectual property protection; and other risks and
uncertainties and factors. These risks, uncertainties and other factors should be considered carefully, and investors should not
place undue reliance on the forward-looking information. Any forward-looking information speaks only as of the date on which it is
made and, except as may be required by applicable securities laws, Cardiol disclaims any intent or obligation to update or revise
such forward-looking information, whether as a result of new information, future events or results or otherwise. Although Cardiol
believes that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions,
risks, and uncertainties and are not (and should not be considered to be) guarantees of future performance. It is important that
each person reviewing this news release understands the significant risks attendant to the operations of Cardiol.
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