Willow Biosciences (TSX: WLLW) (OTCQX: CANSF), a Vancouver, Canada-based company focused on manufacturing pharmaceutical-grade cannabinoids via synthetic biology, has closed its previously announced upsized public offering of 17,692,307 units of the company, each at a price of $0.65, including 2,307,692 units issued pursuant to the full exercise of the over-allotment option. The company secured aggregate gross proceeds of approximately $11.5 million in the offering. Williow Biosciences expects to use net proceeds for the commercialization of cannabigerol (“CBG”) and other portfolio cannabinoids of the company, general and administrative expenses, working capital and general corporate purposes.
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About Willow Biosciences Inc.
Willow is a Canadian biotechnology company based in Vancouver, Canada, 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 and 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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