Mr. Trevor Burns reports

CARDIOL THERAPEUTICS REGAINS COMPLIANCE WITH ALL APPLICABLE LISTING STANDARDS OF THE NASDAQ CAPITAL MARKET

Cardiol Therapeutics Inc. received notice on Jan. 23, 2024, from the Nasdaq Stock Market LLC stating that the company has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market. Accordingly, the company is now in compliance with all applicable listing standards.

About Cardiol Therapeutics Inc.

Cardiol Therapeutics Inc. is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease. The company's lead small molecule drug candidate, Cardiolrx (cannabidiol) oral solution, is pharmaceutically manufactured and in clinical development for use in the treatment of heart disease. It is recognized that cannabidiol inhibits activation of the inflammasome pathway, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with myocarditis, pericarditis and heart failure.

We seek Safe Harbor.