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Willow Biosciences Announces $30mln Recapitalization Financing and New Executive Team and Board
ByAinvest
Wednesday, May 7, 2025 7:33 am ET1min read
Willow Biosciences Inc. has announced a $30 million recapitalization financing and the proposed appointment of a new executive team and board of directors to form Atlas Energy Corp. The shareholders will vote on a consolidation of common shares and the company's name change to satisfy the TSXV listing requirements. The transaction is expected to close on June 19, 2025, subject to certain conditions.
Willow Biosciences Inc. (CANSF) has completed the sale of its operating subsidiary, Epimeron USA, for US$2.76 million in cash. The transaction, finalized on May 7, 2025, marks a significant financial milestone for the company. Willow Biosciences plans to use the sale proceeds for debt reduction and evaluate future cash requirements and opportunities. The sale has also led to notable management changes, with CEO Dr. Chris Savile and SVP of Research and Development Dr. Trish Choudhary resigning to continue their careers with the purchaser, Mycofeast Ltd. Travis Doupe, the Chief Financial Officer, has been appointed as Interim Chief Executive Officer [1].The company has also announced a $30 million recapitalization financing and the proposed appointment of a new executive team and board of directors to form Atlas Energy Corp. Shareholders will vote on a consolidation of common shares and the company's name change to satisfy the TSXV listing requirements. The transaction is expected to close on June 19, 2025, subject to certain conditions [2].
References:
[1] https://www.gurufocus.com/news/2817789/willow-biosciences-inc-announces-completion-of-sale-of-operating-subsidiary-and-management-changes-cansf-stock-news
[2] https://www.gurufocus.com/news/2817789/willow-biosciences-inc-announces-completion-of-sale-of-operating-subsidiary-and-management-changes-cansf-stock-news
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