Willow Biosciences (TSX: WLLW) (OTCQX: CANSF), a leading developer of biosynthetic production systems for high-value, plant-derived active pharmaceutical ingredients (“APIs”) and intermediates, will exercise its right under the terms of an Oct. 29, 2020, warrant indenture to accelerate the expiry date of common share purchase warrants issued that same day. The warrant indenture stipulates that the company may accelerate the expiry of the 2020 warrants if the volume weighted average trading price of the company’s common shares on the Toronto Stock Exchange surpasses $1.20 for at least 20 consecutive trading days, which occurred at the close of markets on Jan. 22, 2021. In order to do so, Willow Biosciences must deliver written notice to the holders of the 2020 warrants within 10 business days of the acceleration trigger; the company will deliver those notices on Jan. 26, 2021, which will have been deemed to be delivered by Jan. 29, 2021. Unless exercised, the 2020 warrants are now scheduled to expire on Feb. 28, 2021, and any 2020 warrants that have not been exercised by 5 p.m. (Calgary time) on that date will be cancelled. Warrantholders may exercise warrants in their name by following the instructions on the exercise notice form attached to the certificate evidencing the 2020 warrants.
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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.
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