Long awaited news: Cardiol Therapeutics Signs Supplier Agreement with Medical Cannabis by Shoppers, a Subsidiary of Shoppers Drug Mart Inc.
Oakville, Ontario--(Newsfile Corp. - March 18, 2020) - Cardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) ("Cardiol" or the "Company"), a leader in the production of pharmaceutical cannabidiol (CBD) and the development of innovative cannabidiol products for heart disease, is pleased to announce that it has signed a supplier agreement to offer its pharmaceutically produced cannabidiol to Medical Cannabis by Shoppers ("Shoppers"), a subsidiary of Shoppers Drug Mart Inc.
Shoppers will be the exclusive retailer of Cardiol's CardiolRx™ brand of cannabidiol products in Canada. Under the terms of the agreement, Cardiol's exclusive manufacturing partner, Dalton Pharma Services Inc., will supply Cardiol's pharmaceutical cannabidiol products to Shoppers for resale in all provinces and territories in Canada through Shoppers' online store. Manufactured under cGMP and THC free (<5 ppm), Cardiol's products are designed to be the safest and most consistent pharmaceutical cannabidiol formulations available and will be sold initially in three dosage formats: 100mg/mL, 50mg/mL, and 25mg/mL. Shoppers also has the right to resell all future products available from Cardiol's product line, subject to any and all regulations.
There is a growing demand from paediatricians for a cannabidiol formulation that does not contain THC. The Canadian Paediatric Society and The College of Physicians and Surgeons of Ontario recommend that physicians not expose young people under the age of 25 to THC, as its effects on brain development are unknown. For elderly patients, THC exposure can lead to unfavourable drug interactions, delirium, instability, and other effects of intoxication. People over the age of 65 represent the fastest growing segment for medicinal cannabinoids in Canada.
"Shoppers Drug Mart is a trusted brand in Canada and we are delighted that Medical Cannabis by Shoppers has agreed to carry Cardiol's pharmaceutical cannabidiol on an exclusive basis," said David Elsley, President and CEO of Cardiol Therapeutics. "The signing of this important distribution agreement has now positioned our Company to meet the growing demand for medical cannabidiol products that are free from the psychotropic effects of THC, while setting the highest industry standards for purity, stability, safety, and consistency for patients and healthcare providers."
