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WILLOW BIOSCIENCES INC. ANNOUNCES COMPLETION OF SALE OF OPERATING SUBSIDIARY AND MANAGEMENT CHANGES
WILLOW BIOSCIENCES INC. ANNOUNCES COMPLETION OF SALE OF OPERATING SUBSIDIARY AND MANAGEMENT CHANG...
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[{"type":"text","content":"\n\n\n\n WILLOW BIOSCIENCES INC. ANNOUNCES COMPLETION OF SALE OF OPERATING SUBSIDIARY AND MANAGEMENT CHANGES\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n April 30, 2025\n \n\n /CNW/ -\n \n Willow Biosciences Inc.\n \n (the \"\n \n Company\n \n \") (TSX: WLLW) (OTCQB: CANSF) announces the completion today of the sale (the \"\n \n Transaction\n \n \") of its wholly-owned operating subsidiary, Epimeron\n \n USA\n \n , Inc., to the U.S. subsidiary of Mycofeast Ltd., a privately-held, arms-length entity based in the\n \n United Kingdom\n \n (the \"\n \n Purchaser\n \n \"), pursuant to the terms of a share purchase agreement dated\n \n March 14, 2025\n \n (the \"\n \n Share Purchase Agreement\n \n \"), between the Company and the Purchaser.\n \n\n\n\n\n\n\n\n\n The Transaction was completed for aggregate consideration equal to\n \n US$2.76 million\n \n in cash following closing adjustments (the \"\n \n Purchase Price\n \n \"), of which\n \n US$275,975\n \n (the \"\n \n Escrow Amount\n \n \") is subject in escrow until\n \n September 17, 2025\n \n , at which point the Company and the Purchaser will jointly instruct the escrow agent to pay the Company the balance of the Escrow Amount in excess of any amounts subject to indemnity claims and certain post-closing price adjustments. There is no guarantee that all or any portion of the Escrow Amount will be payable to the Company.\n \n\n The Company intends to apply a portion of the Purchase Price to debt reduction, and will retain the remainder pending a review of its futures cash requirements and potential opportunities, with a view to maximizing shareholder value. Additional information concerning the Transaction is disclosed in the Company's management information circular dated\n \n March 26, 2025\n \n (the \"\n \n Information Circular\n \n \"). Copies of the Share Purchase Agreement and the Information Circular are available on the Company's SEDAR+ profile at\n \n www.sedarplus.ca\n \n .\n \n\n As a condition to the completion of the Transaction, Dr.\...