Cardiol Therapeutics Inc. Exempt Distribution Report

Cardiol Therapeutics Inc. filed a Form 45-106F1 Report of Exempt Distribution, detailing a securities distribution conducted from October 17, 2025, to October 20, 2025. The distribution involved 11,425,000 units, each consisting of one Class A Common Share and one-half of one Common Share Purchase Warrant, priced at $1.4035 to $1.4036 per unit, totaling $16,035,144.50. The distribution was made to accredited investors and other exempt purchasers across various jurisdictions, including Canada, the United States, and several other countries. The report also outlines compensation paid to underwriters and other parties involved in the distribution.