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Willow Bioscience increases treasury by $8.1 million upon exercise of warrants

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Tuatara is a sector focused private equity fund that works alongside management teams to provide strategic, financial, and operational support to the legal cannabis industry.

Additional Information:

Company: Willow Biosciences
Website: http://www.willowbio.com
Stock Symbol: CSE:WLLW
Date Published: May 28, 2019
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Willow Biosciences increased its treasury with the recent exercise of warrants by a significant shareholder.

The Tuatara Capital Fund II, L.P. acquired 9.2 million shares at a cost of approximately $8.1 million following the exercise of 9.2 million warrants priced at $0.875.

Tuatara is a sector focused private equity fund that works alongside management teams to provide strategic, financial, and operational support to the legal cannabis industry.

The fund originally purchased 13,829,000 units in a private placement at a cost of $0.875 per unit, adjusting for a recent 25 for 1 consolidation.

Following the exercise of these warrants, the fund currently owns approximately 23 million shares or 29.44% on a non-diluted basis, along with another 4.6 million warrants.

Trevor Peters, President and CEO, stated: “This additional capital from our sector-focused private equity partner, Tuatara, puts us on even stronger financial footing and will accelerate our ability to secure strategic relationships with potential manufacturing and distribution partners. We anticipate that our strengthened position will make it possible for Willow to earn a larger share of the revenues to be generated once commercial cannabinoid production is achieved and distribution by one or more strategic partners commences.”

Willow is a pure-play synthetic biology company focused on revolutionizing industrial manufacturing of active pharmaceutical ingredients and other high value products that have been traditionally plant-derived, via industrial scale fermentation-based biosynthesis.

Biosynthesis provides a distinct value proposition to pharmaceuticals, including higher yields, lower costs, higher purity.

The shares of Willow Biosciences, which started trading on the Canadian Securities Exchange on April 15th, following a change of business with Makena Resources, are currently trading at $1.42.

For more information, please visit the company’s website www.willowbio.com , contact Trevor Peters, President & CEO at 403-669-4848 or email t.peters@willowbio.com or Troy Talkkari, VP Corporate Development, at 403-618-1117 or by email at t.talkkari@willowbio.com.

I’m Megan Edwards for Investmentpitch Media