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/MjKEB
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
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.
With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.
Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.
For more information, please visit https://www.InvestorWire.com
InvestorWire is part of the InvestorBrandNetwork.