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Cardiol Therapeutics Initiates Health Canada Approved Phase 1 Clinical Study of CardiolRx(TM)

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Study Designed to Support Cardiol Therapeutics’ Phase 2 International Trial in Acute Myocarditis

Oakville, Ontario–(Newsfile Corp. – August 26, 2020) – Cardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) (“Cardiol” or the “Company“), a leader in the development of pharmaceutical cannabidiol formulations for the treatment of cardiovascular diseases, including heart failure and acute myocarditis, is pleased to announce the initiation of its Health Canada approved Phase 1 clinical study of CardiolRx™. CardiolRx is an extra strength formulation of pharmaceutical cannabidiol that has been formulated to set the highest industry standard for purity, consistency, and stability.

Cardiol’s Phase 1 clinical trial is a double-blind, placebo-controlled, randomized study to assess safety, tolerability, and pharmacokinetics of single followed by multiple day ascending doses of CardiolRx administered orally in up to 55 healthy adult subjects, both in the fasting and fed states. The study is expected to be completed during Q4, 2020, and is believed to represent the first Health Canada approved study of a high concentration (100 mg/mL) cannabidiol formulation that contains virtually no THC (<5 ppm). This level of purity is extremely important for patient populations who should not take THC, particularly children, where THC can impact brain development, and older individuals who wish to avoid intoxication and who may be more susceptible to adverse drug effects.

By measuring standard safety parameters and the pharmacokinetics of CardiolRx, including the degree of drug absorption and resulting blood levels at escalating doses, the Phase 1 study will provide important information to optimize dosing levels for the Company’s planned Phase 2 international trial in acute myocarditis. Cardiol’s acute myocarditis trial has been designed by an independent steering committee comprising highly distinguished thought leaders in heart failure and myocarditis from international centers of excellence, including: the Cleveland Clinic, the Mayo Clinic, the Houston Methodist DeBakey Heart and Vascular Center, the University of Ottawa Heart Institute, McGill University Health Centre, University of Pittsburgh Medical Center, and Charité Hospital Berlin.

Acute myocarditis is an inflammatory condition of the heart that represents a leading cause of sudden cardiac death in children and otherwise healthy young adults. The most common cause of acute myocarditis is a viral infection of the heart tissue which is initially responsible for the inflammation. Based on the large body of experimental evidence of the anti-inflammatory and cardioprotective properties of cannabidiol in models of cardiovascular disease, the Company believes there is an opportunity to develop a potential breakthrough therapy for acute myocarditis that would be eligible for designation as an orphan drug. The U.S. orphan drug program was created to offer companies significant incentives, including multi-year marketing exclusivity, to develop treatments for diseases that affect fewer than 200,000 people in the U.S. The program was successfully utilized to accelerate the first FDA approval of cannabidiol for the treatment of two pediatric epilepsy syndromes as orphan diseases. Cardiol believes there is a similar opportunity to fast track the development of its CardiolRx formulation as an orphan drug for the treatment of acute myocarditis, for which there is currently no accepted standard of care.

“There is now increasing evidence that the SARS-CoV-2 virus (responsible for COVID-19) is causing a disturbing number of new cases of myocarditis in young adults, perhaps most notably Red Sox pitcher Eduardo Rodriguez and several U.S. college football players. As global awareness of the devastating consequences of acute myocarditis increases in the wake of the COVID-19 pandemic, we see an opportunity to accelerate the development of CardiolRx as an important new cardioprotective therapy,” said David Elsley President and CEO of Cardiol Therapeutics Inc. “The initiation of our Phase 1 clinical study represents another significant milestone for Cardiol, as we aim to position the Company at the forefront of heart failure research.”

About Cardiol Therapeutics

Cardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) is a leader in the development of pharmaceutical cannabidiol formulations for the treatment of cardiovascular diseases, including heart failure and acute myocarditis. The Company’s lead product, CardiolRx™, is pharmaceutically produced, manufactured under cGMP, and is THC free (<5 ppm). The Company plans to commercialize CardiolRx in the billion-dollar market for medicinal cannabinoids in Canada.

Cardiol is planning a Phase 2 international trial of CardiolRx in acute myocarditis, a condition caused by inflammation in heart tissue, which remains the most common cause of sudden cardiac death in people less than 35 years of age. The Company is also developing proprietary cannabidiol formulations for the treatment of inflammation in the heart that is associated with the development and progression of heart failure. Heart failure is the leading cause of death and hospitalization in North America, with associated annual healthcare costs in the U.S. alone exceeding $30 billion. For further information about Cardiol Therapeutics, please visit cardiolrx.com.

For further information, please contact:

David Elsley, President & CEO +1-289-910-0850
david.elsley@cardiolrx.com

Trevor Burns, Investor Relations +1-289-910-0855
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. All statements, other than statements of historical fact, that address activities, events, or developments that Cardiol Therapeutics Inc. (“Cardiol” or the “Company”) believes, expects, or anticipates will, may, could or might occur in the future are “forward- looking information”. Forward-looking information contained herein may include, but is not limited to, statements with respect to the expected completion of the Phase 1 clinical study in Q4, 2020 and the Company’s plans to commercialize CardiolRx and for an international clinical study of CardiolRx. 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 risks and uncertainties associated with product commercialization and clinical studies referred to in the Company’s Annual Information Form dated March 30, 2020. 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 the forward-looking information 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/62556

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PharmaDrug Inc. Closes Transaction to Acquire First Smart Shop in the Netherlands and Now Initiates Major Push to Acquire Best of Breed High Traffic Locations

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Toronto, Ontario–(Newsfile Corp. – September 21, 2020) – PharmaDrug Inc. (CSE: BUZZ) (OTC: LMLLF) (“PharmaDrug” or the “Company“) is pleased to announce that its wholly-owned subsidiary Interrobang Ltd. (doing business as Super Smart) (“Super Smart“) has closed the transaction to acquire the retail establishment specializing in the sale of psychedelic products that was previously announced in the Definitive Agreement signed on August 14, 2020.

Super Smart has commenced a ten-day transition period with the previous owner to co-manage the store and the Company will take effective control on October 1, 2020. The Smart Shop is located in the Town of Tiel, a municipality in central Netherlands, and will serve as an initial platform for Super Smart to build out and refine its new smart shop vision and a springboard to develop its brand and operations. Over the past few months, Super Smart has laid much of the groundwork needed to purchase the first store and as such began developing the organizational structure that will enable the company to make several more purchases and scale up more efficiently. The work includes hiring a country manager, setting up corporate structures, template legal contracts, financial controls and bank accounts.

By taking control of its first store, Super Smart can now start working towards its modern vision for the Smart Shop that will focus on an elevated experience that should improve the current opinion regarding psychedelics amongst the Dutch population. This will include education, micro dosing products and a broader introduction of functional mushrooms. We will also look to work with producers to help modernize the branding of the products sold in our shops.

Our consolidation plans will unify several shops under one collective system. This includes the store design and back end functionality of the stores POS and CRM. This will allow us to collect valuable customer information that will help in creating a unique customer experience for each individual. There will be an important education component with a training program established for all customer facing employees.

Harry Resin, President of Super Smart, commented, “Education will be a foundation upon which our stores will be built. Having worked in the cannabis industry in The Netherlands for more than fifteen years and in California for the last 5 years, I plan on taking my experience in brand building and bringing that to Slim Winkel, our Dutch psychedelic retail concept.”

Acquisition and Store Expansion Strategy

Super Smart is still involved in active discussions with three additional smart shop owners in the Netherlands. While all three of those discussions are still ongoing, Super Smart is waiting to see the impact of the Covid pandemic on their sales to help determine the appropriate price. We believe the current resurgence should contribute to more attractive valuations. Additionally, the company has begun discussions with industry veterans who share in our vision and together we are contemplating opening new stores instead of acquiring existing ones. Vacancies are climbing across the country while rents are dropping in best of breed retail locations. We have already started looking for strategic locations in high traffic areas in top cities and towns. Additionally, management now believes that given the pandemic, it makes more sense to begin an online platform sooner.

About PharmaDrug Inc.

PharmaDrug Inc. is building an international controlled substance and natural medicine company with a focus on Europe. The Company owns 80% of Pharmadrug GmbH, a German medical cannabis distributor, with a Schedule I European Union narcotics license allowing for the importation and distribution of medical cannabis to pharmacies in Germany and throughout the EU. The Company also owns 100% of Super Smart, an early-stage retail company focused on consolidating the fragmented Dutch smartshop market. Smartshops are retail establishments in The Netherlands that specialize in the sale of psychoactive substances including psychedelic truffles.

For further information, please contact:

Daniel Cohen, Chairman and CEO
dcohen@pharmadrug.co
(647) 202-1824

Caution Regarding Forward-Looking Information:

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Forward looking statements in this press release relate to the integration of the Smart Shop business, anticipated volume growth in the Company’s German business and the introduction by the Company of its own brand of medical cannabis. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to locate additional supply of medical cannabis, owning interests in companies or projects that are engaged in activities currently considered illegal under United States federal law; changes in laws; limited operating history, reliance on management, requirements for additional financing, competition, hindering market growth; regulatory and political change. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64247

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Is Ganja Gurus the New Weedmaps?

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Canada’s Authority on Retail Cannabis and Delivery Services to Launch New Programs in Your Area in September 2020.

Edmonton, Alberta–(Newsfile Corp. – September 21, 2020) – Ganja Gurus is thrilled to announce they will be entering the Canadian market in September 2020 to provide services where others have recently failed. First impressions indicate an understanding of what is important to their consumers today. Not only are they able to satisfy the needs of their market, but in Accordance with their Mission Statement, they intend to give back to the community that has helped bring them to where they are today.

Moving forward from September 2020 Ganja Gurus intends to excel in the following for their consumers. Declan Stone, Co-Founder, “Choice and charity is our Motto. We will provide listings for dispensaries, retail storefronts, accessory shops, delivery services, mail order marijuana, local shops, head shops, accessories, etc.” As experienced users ourselves we understand the need to browse and appreciate the market when making our selections. Stone continues, “Having access to the big box stores enables us to meet your needs in any situation, but we want to go a step further for our consumers.”

They will not limit their users to certain retailers, instead allowing any licensed retailer to have a listing in the hope that the extra choice will allow for you to try something new, and support someone local. By joining the GanjaGurus community you gain the ability to help with the growth of companies who you may not hear of otherwise, and who greatly appreciate your support. Ultimately the choice lies in your hands, which is the beautiful thing when seeing the available options.

This supporting mentality does not stop there however. They are willing to take actions and not just use words. When you make the choice to use Ganja Gurus in selecting your next order, you are also choosing to side with a company actively giving back to their community. At Ganja Gurus they will be transparent in their charity actions. Stone concludes, “A portion of revenues generated through the site will be given directly to local charities, while another portion will be spent towards local advertising companies in order to give back to the communities that support us.”

If you would like more information regarding the launch of Ganja Gurus please contact The Ganja Gurus Team at contact@ganjagurus.ca

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64107

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Red Light Holland Grants Exclusive Access to a Prominent Canadian Production Company and Film Crew to Document the Company in the Netherlands

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Toronto, Ontario–(Newsfile Corp. – September 21, 2020) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (“Red Light Holland” or the “Company“), an Ontario-based corporation positioning itself to engage in the production, growth and sale of its brand of magic truffles to the legal, recreational market within the Netherlands, is pleased to announce that it has granted a prominent Canadian production company and film crew exclusive access to provide video coverage of the activities of the Company and its Chief Executive Officer, Todd Shapiro, within the Netherlands, leading up to the Company’s previously announced iMicrodose product launch party (the “iMicrodose Launch Party“), scheduled on September 25, 2020, in Amsterdam, the Netherlands. Filming commenced on September 20, 2020 in Horst, the Netherlands (the location of the Company’s production and distribution facility) and will continue through to the iMicrodose Launch Party, covering, among other things, the iMicrodose brand, and the production and distribution facility.

“I’m so grateful for this production company reaching out and offering to document our journey. There’s a ton of hard work that is going on behind the scenes and if all goes according to plan – this will be another piece of earned Media, which hasn’t cost Red Light Holland a dime, to potentially highlight our Company, our tireless efforts and our iMicrodose brand to a much bigger widespread audience,” said Chief Executive Officer and Director of the Company, Todd Shapiro. “Out of respect to the production company’s intellectual property rights, which play a huge role in stimulating innovation and creativity – in this case focusing on Red Light Holland’s early magic truffles production facility, our iMicrodose product launch in the Netherlands, and our expected iMicrodose Launch Party – we’ve mutually agreed to hold off on providing more information for now. However, we look forward to sharing more details in early 2021 about this great exposure opportunity… Now let’s just hope my mug doesn’t get left on the cutting room floor!”

About Red Light Holland Corp.

The Company is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.

For additional information on the Company:

Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/

Forward-Looking Statements

Neither the Canadian Securities Exchange (the “CSE”) nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Readers are further cautioned that the assumptions used in the preparation of such forward-looking statements (including, but not limited to, the assumption that (i) the Company will be able to execute on its business plan, and will receive one or multiple licenses, permits, and authorizations from time to time necessary to execute on its business plan, (ii) the Company’s financial condition and development plans do not change as a result of unforeseen events, (iii) there will continue to be a demand, and market opportunity, for the Company’s product offerings, (iv) the Company will be able to establish, preserve and develop its brand, and attract and retain required personnel, (v) the Company will be successful in offering for sale the iMicrodosing packs as contemplated, on the terms and within the timelines anticipated by the Company, (vi) current and future economic conditions will neither affect the business and operations of the Company nor the Company’s ability to capitalize on anticipated business opportunities, (vii) the magic truffles currently being grown by the Company will be ready for harvest and distribution within the timelines anticipated by the Company, and (viii) the production company will commence and complete video coverage of the Company as contemplated, on the terms and within the timelines anticipated by the Company), although considered reasonable by management of the Company at the time of preparation, may prove to be imprecise and result in actual results differing materially from those anticipated, and as such, undue reliance should not be placed on forward-looking statements. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws. Forward-looking statements, forward-looking financial information and other metrics presented herein are not intended as guidance or projections for the periods referenced herein or any future periods, and in particular, past performance is not an indicator of future results and the results of the Company in this news release may not be indicative of, and are not an estimate, forecast or projection of the Company’s future results. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Not for distribution to United States newswire services or for dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64217

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