Willow Biosciences (TSX: WLLW) (OTCQX: CANSF), a leading developer of biosynthetic production systems for high-value, plant-derived active pharmaceutical ingredients (“APIs”) and intermediates, has released an update on the acceleration of common share warrants that was previously announced. Willow completed the acceleration, which was comprised of 9,320,478 common share purchase warrants issued on Oct. 29, 2020. The completion included the issuance of an estimated 9,259,404 additional common shares, along with cash proceeds for the company of almost $7.9 million. The company now reports a total cash balance of approximately $48.4 million. “We are grateful for the considerable support we have received from our shareholders following our recent warrant accelerations,” said Willow president and CEO Trevor Peters in the press release. “As we enter 2021, we will use the proceeds from the Acceleration alongside the $28.75 million we raised from our recent bought-deal financing to accelerate capital spending towards execution of our commercialization plan for our existing portfolio cannabinoids, and continue to explore opportunities for cannabinoids in development.”
To view the full press release, visit https://ibn.fm/BawkK
About Willow Biosciences Inc.
Willow is a Canadian biotechnology company based in Vancouver, British Columbia, which produces high-purity, plant-derived compounds that provide building blocks for the global pharmaceutical, health and wellness, and consumer packaged goods industries. Willow’s current focus is on the production of cannabinoids for the treatment for pain, anxiety, obesity and brain disorders, among other significant indications. Willow’s science team has a proven track record of developing manufacturing technologies for high-purity compounds in pain and cancer treatments. Willow’s manufacturing process creates a consistent, scalable and sustainable product that allows for the discovery and development of new life-changing drugs. For more information about the company, visit www.WillowBio.com.
NOTE TO INVESTORS: The latest news and updates relating to WLLW are available in the company’s newsroom at http://ibn.fm/WLLW
About MissionIRNewsBreaks
MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.
MissionIR (MIR)
Atlanta, Georgia
www.MissionIR.com
404.941.8975 Office
Editor@MissionIR.com
Please see full terms of use and disclaimers on the Mission Investor Relations website applicable to all content provided by MIR, wherever published or re-published: http://www.missionir.com/disclaimer.html
