Cardiol Therapeutics (TSX:CRDL,OTCQX:CRTPF) CEO David Elsley joined the Investing News Network to discuss the company’s recent progress developing and distributing its pharmaceutical cannabidiol product, CardiolRx™.
On March 18th the company announced it had signed a supply agreement with Medical Cannabis by Shoppers, a subsidiary of Shoppers Drug Mart. Shoppers that is expected to be the exclusive retailer of CardiolRx™ in Canada.
Elsley believes the announcement is a significant step for Cardiol, which has worked diligently to produce one of the purest forms of pharmaceutical cannabidiol in the world. “With today’s announcement, we’re thrilled that our pharmaceutical cannabidiol product will be available through the nation’s largest distributor of medicinal cannabinoids, which is Medical Cannabis by Shoppers. We’re now working closely with our pharmaceutical partners to prepare for the imminent commercial launch of our product in the early second quarter,” said Elsley.
“We spent the past several years developing a supply chain to make the purest, most consistent form of pharmaceutical cannabidiol in the world, and we’re thrilled that the most trusted brand in medicine has now agreed to make this product available to Canadians who can benefit from our medicine.” According to Elsley, the supply agreement between Shoppers and Cardiol could be the first of many as the company works to secure partnerships in additional jurisdictions. “Having one of the most trusted brands in pharmacy aligned with our product is a significant milestone. We’re in international discussions with other pharmacy chains around the world, and today’s announcement with Medical Cannabis by Shoppers is the first step in making this product ultimately available nationwide and internationally. We are pursuing a number of discussions for international distribution whilst we prepare to supply the growing market and the growing demand for a pure cannabidiol product in Canada.”
Due to the stringent regulatory standards in the medical space, Cardiol has pursued the pharmaceutical production of cannabidiol to ensure a safe, pure and consistent product. Elsley feels this strategy has been proven by major success stories such as Bayer (ETR:BAYR). “History has shown us that to ultimately make any new medicine affordable and accessible worldwide, it needs to be made pharmaceutically. Just think of aspirin, aspirin comes from willow bark. It was synthesized by the drug giant Bayer many years ago, and that’s why aspirin is widely available and affordable,” said Elsley. “At Cardiol, we’re doing the same thing for another very important medicine, cannabidiol, which is now used worldwide for many important purposes. We’ve made the medicine scalable, affordable, pure and consistent, so it can be reproduced each and every time. Ours is the purest form of it in the world today, and we’re thrilled to be introducing it commercially to the Canadian population.”
Elsley explained that one of Cardiol’s main goals was to create a pure and safe cannabidiol product for patients that should not be exposed to the psychoactive component in cannabis, THC. “We have ultimately formulated this product for hundreds of thousands of people in this country that should not be exposed to THC. THC should not be given to anyone under the age of 25 because we don’t fully understand what it does to brain development, and people over the age of 65 can suffer various consequences associated with intoxication and drug interactions,” he said. “We have the lowest level of THC of any product in the world, virtually undetectable at less than five parts per million.”
Moving forward, Elsley is hopeful that CardiolRx™ can help those suffering from both cardiovascular ailments and anxiety issues, two potential use-cases of cannabidiol. “At Cardiol, we’re developing our pure pharma cannabidiol as a cardio-protective agent. This molecule has profound cardio-protective properties,” he said. “We know that cannabidiol calms the central nervous system, that’s how it’s helping children with epilepsy. It could be a powerful anxiolytic without all the consequences of other anxiolytics, which are typically controlled drug substances that are addictive. Cannabidiol has an exquisite safety profile.”
For a more comprehensive update from Cardiol Therapeutics CEO David Elsley, watch the video above.
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CanBud Distribution Corporation Closes 2M Second and Final Tranche of its Oversubscribed Private Placement Offering
CanBud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“CanBud” or the “Corporation”) is pleased to announce that it has closed the final tranche of its oversubscribed non-brokered private placement for aggregate gross proceeds of approximately $4,730,000 (the “Offering”).
The Corporation issued a combined total of 39,409,346 units (each a “Unit“) at price of $0.12 per Unit, with each Unit comprised of one common share in the capital of the Corporation (each a “Common Share“) and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.22 within 24 months of the closing of the Offering (the “Warrant Term“), provided, however that if the closing price of the Common Shares on the Canadian Securities Exchange (the “CSE“) (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is $0.25 or greater per Common Share for a period of five (5) consecutive trading days at any time after the closing date of the Offering, the Corporation may accelerate the Warrant Term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Corporation announcing the reduced warrant terms.
Thoughtful Brands Inc. (CSE:TBI)(FSE:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands) announces that the letter of intent with Franchise Cannabis Corp. (“FCC”), previously announced in January, has been terminated. The previously announced European joint venture with FCC will continue and allow the Company to launch and tailor its products to European consumer demands
In connection with termination of the merger transaction with FCC, the Company has agreed to pay FCC $100,000 in cash and to issue FCC 5,000,000 common shares of the Company at a deemed value of $0.05 per share. The common shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.
Strategic sale of non-core assets by Lobe adds non-dilutive capital and shareholder value
Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce, further to its press release dated February 23, 2021, that it has completed the sale to Ionic Brands Corp. (“Ionic Brands”) of Lobe’s non-core cannabis assets relating to Washington-based Cowlitz County Cannabis Cultivation Inc. (“Cowlitz”) held by Lobe’s subsidiary vendor, Green Star Biosciences Inc. (the “Transaction”).
Seattle Area Grocery Chain Metropolitan Market to Begin Carrying KOIOS and Fit Soda on March 22, 2021
Adding to its existing presence on the west coast of the United States, all five KOIOS™ flavours and all four Fit Soda™ flavours will be carried in Metropolitan Market stores beginning on Monday, March 22, 2021. Serving the Seattle-Tacoma area (population 3.87 million), Metropolitan Market is one of five chains under its parent firm Good Food Holdings, which has a total of 51 stores in California, Oregon, and Washington State.
Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that beginning on Monday, March 22, 2021, Koios’ entire line of canned beverage products will be sold at all locations of Metropolitan Market, an urban format supermarket chain in the Seattle-Tacoma area of Washington State. In Q1 2021, the Company announced multiple placements of its beverage products with regional grocers in markets on the west coast of the United States including Market of Choice in Oregon Jensen’s in Southern California and major natural grocery chain Sprouts Farmers Market which has a substantial west coast presence with over one third of its locations (360+ stores across 23 states) in California as well as Washington State 1 . The Company has also recently announced other developments relating to its expansion efforts being undertaken in 2021 such as an in-house beverage canning facility and distribution agreements with regional and national wholesale partners.