Cardiol Therapeutics Appoints Dr. James Young as Chair of the Company’s Scientific Advisory Board

Cardiol Therapeutics Inc. (“Cardiol” or the “Company”), a nanotherapeutics company focused on the research and commercial development of proprietary drug formulations for the treatment of heart failure, is pleased to announce that it has appointed Dr. James Young as Chair of the Company’s Scientific Advisory Board.

Dr. Young is Professor of Medicine at Cleveland Clinic Lerner College of Medicine of Case Western Reserve University and Chief Academic Officer of the Cleveland Clinic. He is a Medical Director of the Kaufman Center for Heart Failure. He holds the George and Linda Kaufman Chair and was Study Chairman of the NIH, FDA, and CMS Interagency Registry for Mechanical Circulatory Assist Support (INTERMACS). He holds a joint appointment in the Cleveland Clinic Multi-Organ Transplant Center. Dr. Young is certified by the American Board of Internal Medicine as well as the subspecialty of Cardiovascular Disease and holds active medical licensure from the states of California, Illinois, Ohio, Pennsylvania, and Texas.

Dr. Young has participated in more than 150 clinical trials as an investigator and served as the U.S. Principal or Co-Principal Investigator for the HOPE, RESOLVED, SPICE, VMAC, MIRACLE-ICD, RED-HF, ACCLAIM, ONTARGET, TRENSCEND and CHARM multi-centre clinical trials. He has published more than 550 manuscripts and several textbooks. Professionally, Dr. Young gains the greatest satisfaction from his contributions to the development and administration of donor organ procurement programs, his efforts to secure recognition for the emerging cardiology subspecialty of heart failure and cardiac transplant medicine, and his collaborations with basic and clinical scientists.

“We are honoured to have Dr. Young Chair our Scientific Advisory Board. Having previously worked with Dr. Young, I have been inspired by his passion and dedication to cardiovascular medicine,” said David Elsley President & CEO of Cardiol. “Dr. Young has great depth of knowledge of scientific and clinical heart failure research combined with multiple leadership roles in pivotal cardiovascular clinical trials.  Given his vast experience, Dr. Young will be in a position to provide invaluable guidance to Cardiol to enable the Company to fulfil its commitment to conquering heart failure.”

“Anti-inflammatory strategies can be of significant benefit to those patients who have not yet advanced to late-stage heart disease, but who are at risk for doing so. I believe Cardiol’s approach to delivering anti-inflammatory molecules to fibrous tissue in the heart has tremendous therapeutic potential and I look forward to contributing to the clinical development of this innovative therapeutic strategy,” said Dr. Young.

About Cardiol Therapeutics

Cardiol Therapeutics is a nanotherapeutics company focused on the research and commercial development of proprietary drug formulations for the treatment of heart failure. Heart failure is a chronic condition that affects more than 26 million people globally. Over five million adults in the U.S. suffer from heart failure, and it remains a leading cause of death and hospitalization with associated healthcare costs exceeding $30 billion annually. People with heart failure experience shortness of breath, fatigue, rapid heart rate, edema, reduced exercise capacity and a marked reduction in quality of life. Approximately half of all heart failure patients have heart failure with preserved ejection fraction (HFpEF), which is often associated with diabetes, obesity, and high blood pressure and for which there have been no new therapies developed in over 20 years. Cardiol is developing CTX01, a proprietary nanoformulation of pharmaceutical cannabidiol for the treatment of HFpEF. Cannabidiol has been shown to attenuate cardiac dysfunction in experimental models of diabetic cardiomyopathy and to decrease oxidative stress, fibrosis, programmed cell death and inflammation in other models relevant to HFpEF. CTX01 is designed to optimize and maintain blood levels of cannabidiol and target the drug to areas of inflammation in the heart. Cardiol is also developing CTX02, a proprietary nanoformulation of methotrexate and CTX03, a proprietary nanoformulation of encapsulated Cyclosporine A (CsA), both for the treatment of heart failure.

For further information, please contact:

David Elsley

President & CEO

905.491.6793

david.elsley@cardiolrx.com

Trevor Burns

Investor Relations

905.491.6793

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 the intended business strategy of Cardiol Therapeutics Inc. (“Cardiol”), the potential for Cardiol’s licensed nanoscale drug encapsulation and delivery technologies to enhance the bioavailability of cannabinoids and other drugs. 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 characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “forecast”, and other similar words or statements that certain events or conditions “may” or “will” occur. Forward-looking information reflects the current expectation or beliefs of Cardiol based on information currently available to Cardiol and is subject to a variety of risks and uncertainties and other factors that could cause the actual events or results to differ materially from those discussed in the forward-looking information. These risks, uncertainties and other factors include the inherent risks involved in government approval or no approval in the foreseeable future; the possibility of project cost overruns or unanticipated costs and expenses; unforeseeable deficiencies in the development of the technology; uncertainties relating to the availability and costs of financing needed in the future; Cardiol’s ability to manage growth in its business; competition; failure of clinical trials to demonstrate acceptable levels of safety and efficacy; Cardiol’s ability to retain key management and other personnel; and other risks, 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 any forward-looking information, whether as a result of new information, future events or results or otherwise.

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Cardiol Therapeutics Inc.

2275 Upper Middle Road East, Suite 101

Toronto, Ontario  L6H 0C3  Canada

www.cardiolrx.com

Subsequent to this press release, Cardiol Therapeutics went public on December 20, 2018 under the ticker symbol TSX:CRDL.