Business
Willow Biosciences Provides Update on Acceleration of Expiry Date of Outstanding Warrants Issued Pursuant to October 2020 Unit Financing
Willow Biosciences Provides Update on Acceleration of Expiry Date of Outstanding Warrants...
About this update from Atlas Energy Corp.
[{"type":"text","content":"\n \n \n \n Willow Biosciences Provides Update on Acceleration of Expiry Date of Outstanding Warrants Issued Pursuant to October 2020 Unit Financing\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 VANCOUVER, BC\n \n ,\n \n March 3, 2021\n \n /CNW/ -\n \n \n Willow Biosciences Inc. (\"\n \n Willow\n \n \" or the \"\n \n Company\n \n \") (TSX: WLLW) (OTCQX: CANSF) is pleased to provide an update on its previously announced acceleration of the expiry date of 9,320,478 common share purchase warrants (the \"\n \n 2020 Warrants\n \n \") issued on\n \n October 29, 2020\n \n (the \"\n \n Acceleration\n \n \"). The Company has completed the Acceleration, which has resulted in the issuance of approximately 9,259,404 additional common shares of the Company and cash proceeds to the Company of approximately\n \n $7.9 million\n \n . As of today, the Company had a cash balance of approximately\n \n $48.4 million\n \n .\n \n \n \n \n \n \n \n \n \n \"We are grateful for the considerable support we have received from our shareholders following our recent warrant accelerations,\" said\n \n Trevor Peters\n \n , Willow's President and Chief Executive Officer. \"As we enter 2021, we will use the proceeds from the Acceleration alongside the\n \n $28.75 million\n \n 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.\"\n \n \n On\n \n January 25, 2021\n \n , the Company announced that it had elected to exercise its right under the terms of a warrant indenture dated\n \n October 29, 2020\n \n (the \"\n \n Warrant Indenture\n \n \") governing the 2020 Warrants to accelerate the expiry date of the 2020 Warrants. The holders of 2020 Warrants had thirty days from the date of the notice of Acceleration to exercise their 2020 Warrants. All remaining 2020 Warrants have been cancelled as of\n \n 5:00 p.m.\n \n (\n \n Calgary\n \n time) on\n \n March ...