NetworkNewsBreaks – Willow Biosciences Inc. (TSX
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Posted On: 01/25/2021 4:42:01 PM
NetworkNewsBreaks – Willow Biosciences Inc. (TSX: WLLW) (OTCQX: CANSF) Exercises Right to Accelerate Expiry Date of Outstanding 2020 Warrants
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.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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