NetworkNewsBreaks – Willow Biosciences Inc. (TSX
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Posted On: 03/24/2021 3:53:03 PM
NetworkNewsBreaks – Willow Biosciences Inc. (TSX: WLLW) (OTCQX: CANSF) Releases Q4 and FY 2020 Financial, Operational Report
Willow Biosciences (TSX: WLLW) (OTCQX: CANSF), a leading developer of biosynthetic production systems for high-value, plant-derived active pharmaceutical ingredients (“APIs”) and intermediates, has announced its fourth-quarter and full-year numbers for the period ended Dec. 31, 2020. In the report, Willow noted that it had filed a short form base shelf prospectus that allowed the company to make offerings of securities of up to an aggregate of $50 million. The company also completed an overnight marketed public offering for gross proceeds of $11.5 million, which was upsized by $2.0 million and included the exercise of a 15% overallotment. In addition, Willow inked a deal with a leading ingredient manufacturing firm to produce commercial quantities of its ultra-pure cannabigerol (“CBG”) and began shipping commercial samples of its CBG to prospective customers. Willow ended the year with approximately $15.9 million of cash on hand. “We are very pleased with all of our achievements made in 2020 as a company and how they have set us up for a successful 2021,” said Will’s president and CEO Trevor Peters in the press release. “Looking back on the year we shortened our timelines to commercialization, moved beyond proof of concept with multiple pilot production runs, provided samples of our first cannabinoid to prospective customers, strengthened our balance sheet, and identified a partner and assets to commercialize our first cannabinoid. Ultra-pure, sustainably made, biosynthesized cannabinoids are the future of manufacturing consumer products with cannabinoids as a core ingredient. Commercializing our first cannabinoid this year will not only be a significant milestone for Willow, it will be significant for our industry.”
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, has announced its fourth-quarter and full-year numbers for the period ended Dec. 31, 2020. In the report, Willow noted that it had filed a short form base shelf prospectus that allowed the company to make offerings of securities of up to an aggregate of $50 million. The company also completed an overnight marketed public offering for gross proceeds of $11.5 million, which was upsized by $2.0 million and included the exercise of a 15% overallotment. In addition, Willow inked a deal with a leading ingredient manufacturing firm to produce commercial quantities of its ultra-pure cannabigerol (“CBG”) and began shipping commercial samples of its CBG to prospective customers. Willow ended the year with approximately $15.9 million of cash on hand. “We are very pleased with all of our achievements made in 2020 as a company and how they have set us up for a successful 2021,” said Will’s president and CEO Trevor Peters in the press release. “Looking back on the year we shortened our timelines to commercialization, moved beyond proof of concept with multiple pilot production runs, provided samples of our first cannabinoid to prospective customers, strengthened our balance sheet, and identified a partner and assets to commercialize our first cannabinoid. Ultra-pure, sustainably made, biosynthesized cannabinoids are the future of manufacturing consumer products with cannabinoids as a core ingredient. Commercializing our first cannabinoid this year will not only be a significant milestone for Willow, it will be significant for our industry.”
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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