Willow Biosciences Inc. (CSE: WLLW) on Tuesday announced that it has granted an aggregate of 1,118,000 stock options for certain employees to purchase common shares of Willow pursuant to the terms and conditions of its stock option plan. According to the update, the options expire five years from the grant date, are exercisable at a price of $0.60 per common share, and vest as to one third on the grant date and on each of the first and second anniversaries of the grant date. Willow has additionally issued 21,057 units of the company in connection with its previous April 2019 private placement. The units were issued as of the date hereof, each at an issuance price of $0.875 and consisting of one common share and one performance-based common share purchase warrant. The units were issued at the same price (on a post-consolidation basis) and the warrants have the same terms as those issued under the company’s April 2019 private placement.
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About Willow Biosciences Inc.
Willow is a Canadian biotechnology company based in Calgary, Alberta, that 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 in the production of cannabinoids for the treatment for pain, anxiety, obesity, 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, visit the company’s website at www.WillowBio.com.
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