Read the story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

Willow Biosciences on track to commercialize ultra-pure cannabinoids in 2021 with over C$47M in the bank

% of readers think this story is Fact. Add your two cents.

Willow Biosciences Inc (TSE:WLLW) (OTCQX:CANSF) ended its 4Q 2020 with nearly C$16 million in cash on hand, it revealed in its financial results released Tuesday evening.

The company’s strong liquidity has increased to around C$47.3 million today, thanks to a recent C$28.75 million bought deal and an additional warrant exercise. 

During the three-month period to end December 31, 2020, the Calgary-based company began shipping its first commercial samples of the biosynthetically produced high-purity cannabigerol, or CBG, to prospective customers. 

READ: Willow Biosciences closes upsized bought deal offering for aggregate gross proceeds of approximately $28.75M after full exercise of over-allotment option

The company also beefed up its commercialization timeline by selecting a leading contract manufacturing organization to produce commercial quantities of CBG in Europe.

In a statement, Willow CEO Trevor Peters told investors that the 2020 financial year has set the company up for a successful 2021.

“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,” Peters said.

“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.”

Commercialization plans

Willow said it was on track to commercialize CBG in the first quarter of 2021, with sales expected in the second quarter of the year.

Subsequent to the quarter, in January, Willow announced that it expects to launch biosynthetically produced THC into the more developed Canadian market before building out its platform and selling commercial volumes in 2022.

The group is also working on biosynthetically producing a number of other cannabinoids to commercialization later this year and into 2022.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Story by ProactiveInvestors


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.