Investment further validates Willow's technology for the development and sustainable manufacture of natural ingredients

投资进一步验证了Willow在天然成分开发和可持续制造方面的技术

Additional capital will accelerate commercialization of Willow's pipeline

额外资金将加速Willow管道的商业化

CALGARY, AB, Feb. 20, 2024 /PRNewswire/ - Willow Biosciences Inc. ('Willow' or the 'Company') (TSX: WLLW) (OTCQB: CANSF), a leading biotechnology company focused on revolutionizing industrial manufacturing of pure, consistent, and sustainable functional ingredients, is pleased to announce a strategic investment from Kalsec® Inc.

卡尔加里，AB，2024年2月20日/PRNewswire/-Willow Biosciences Inc.（“Willow”或“Company”）（TSX:WLLW）（OTCQB:CANSF）是一家领先的生物技术公司，专注于彻底改变纯，一致和可持续功能成分的工业制造，很高兴宣布Kalsec®Inc.的战略投资。

('Kalsec'), a leading global producer of natural taste and sensory, food protection, colors and advanced hops ingredients for the food and beverage industry, for the continued development of natural food ingredients.  This non-brokered equity private placement, which is expected to be the first tranche of financing should certain development milestones be met, comes with initial proceeds of US$100,000 (the 'Financing').

（‘Kalsec’）是全球领先的天然口味和感官、食品保护、颜色和先进啤酒花成分生产商，用于食品和饮料行业，以持续开发天然食品成分。如果达到某些发展里程碑，这项非经纪股权私募有望成为第一批融资，初始收益为10万美元（“融资”）。

Proceeds from the Financing will be used for the commercialization and development of the Company's pipeline of products, including natural food ingredients, working capital, and general corporate purposes..

融资所得将用于公司产品线的商业化和开发，包括天然食品成分、营运资金和一般企业用途。。

'We appreciate the trust Kalsec has in Willow and are delighted to welcome them as a partner and now as an investor as we advance development of multiple savory food and beverage ingredient targets,' said Dr. Chris Savile, Willow's President & CEO. 'We are delighted to expand our partnership with Kalsec to help bring the best products possible to Kalsec's customers with a keen focus on market-leading innovation and sustainability.'.

Willow总裁兼首席执行官克里斯·萨维尔（ChrisSavile）博士说，我们感谢Kalsec对Willow的信任，很高兴欢迎他们成为合作伙伴，现在又成为投资者，因为我们正在推进多种美味食品和饮料配料目标的开发我们很高兴扩大与Kalsec的合作伙伴关系，以帮助将最好的产品带给Kalsec的客户，并专注于市场领先的创新和可持续性。”。

Pursuant to the Financing, the Company issued 1,359,856 units (each, a 'Unit') at a subscription price of C$0.10 per Unit, each Unit consisting of one (1) common share in the capital of the Company (each, a 'Common Share') and one-half of one (1/2) Common Share purchase warrant (each whole warrant, a 'Warrant').

根据融资，公司以每单位0.10加元的认购价格发行了1359856个单位（每个单位称为“单位”），每个单位由公司资本中的一（1）股普通股（每个单位称为“普通股”）和一（1/2）股普通股认购权证（每个认购权证称为“认股权证”）的一半组成。

Each Warrant entitles the holder thereof to purchase one (1) Common Share at a price of C$0.14 per Common Share until February 20, 2025; provided that if, at any time prior to the expiry date of the Warrants, the 20-day volume weighted average of actual closing prices of the Common Shares on the Toronto Stock Exchange (the 'TSX'), or other principal exchange on which the Common Shares are listed, is greater than C$0.18, the Company may accelerate the expiry date of the Warrants to the date that is 20 days following the date of the notice of such acceleration..

每份认股权证的持有人有权以每股普通股0.14加元的价格购买一（1）股普通股，直至2025年2月20日；前提是，如果在认股权证到期日之前的任何时间，多伦多证券交易所（“TSX”）或普通股上市的其他主要交易所的普通股实际收盘价的20天成交量加权平均值大于0.18加元，公司可将认股权证的到期日提前至提前通知之日后20天。。

Subject to the completion of an operational milestone by Willow to develop a strain that meets certain performance criteria (the 'Milestone'), Kalsec agreed to subscribe for and purchase an additional US$100,000 of Units at a price per Unit equal to the greater of: (a) $0.10; and (b) a discount of 10% to the volume weighted average trading price of Common Shares on the TSX for the five business days ended on the completion date of the Milestone (the 'Additional Investment').

在Willow完成运营里程碑以开发符合某些性能标准的菌株（“里程碑”）的情况下，Kalsec同意以等于以下两者中较大者的价格认购并购买额外100000美元的单位：（a）0.10美元；（b）在里程碑完成日期（“额外投资”）结束的五个营业日内，TSX普通股成交量加权平均交易价格的10%折扣。

If the Milestone is achieved, the Company will issue a press release confirming details of the Additional Investment..

如果达到里程碑，公司将发布新闻稿，确认额外投资的细节。。

All securities issued under the Financing, including securities issuable on exercise thereof, are subject to a hold period in Canada of four months and one day in accordance with applicable securities legislation.

根据适用的证券法规，根据融资发行的所有证券（包括行使融资时可发行的证券）在加拿大的持有期为四个月零一天。

About Willow Biosciences Inc.

Willow develops and produces precision fermented functional ingredients for the health and wellness, food and beverage and personal care markets. Willow's FutureGrownTM and BioOxi™ platforms enable large-scale production with sustainability at its core. Willow's R&D team has a proven track record of developing and commercializing bio-based manufacturing processes and products to benefit our B2B partners and their customers.

Willow为健康和保健、食品和饮料以及个人护理市场开发和生产精密发酵功能成分。Willow的FutureGrownTM和BioOxi™平台以可持续性为核心实现大规模生产。Willow的研发团队在开发和商业化基于生物的制造工艺和产品方面有着良好的记录，以使我们的B2B合作伙伴及其客户受益。

For more information, visit www.willowbio.com..

欲了解更多信息，请访问www.willowbio.com。。

FutureGrown™ and BioOxi™ are registered trademarks of Willow Biosciences Inc. All other trademarks are trademarks of their respective holders.

Forward-Looking Statements

前瞻性声明

This news release may include forward-looking statements including opinions, assumptions, estimates and the assessment of future plans and operations of Willow, and, more particularly, statements concerning: Willow's business strategies, expectations, planned operations and future actions; the use of proceeds from the Financing; and the listing of the Common Shares issuable pursuant to the Financing, the exercise of the Warrants and the Additional Investment (in the event the Milestone is achieved).

本新闻稿可能包括前瞻性声明，包括对Willow未来计划和运营的意见、假设、估计和评估，尤其是有关以下方面的声明：Willow的业务战略、预期、计划运营和未来行动；融资收益的使用；以及根据融资、权证行使和额外投资（如果达到里程碑）可发行的普通股上市。

When used in this news release, the words 'will,' 'anticipate,' 'believe,' 'likely', 'estimate,' 'expect,' 'intent,' 'may,' 'project,' 'outlook,' 'could,' 'would'' 'should,' and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are based upon a number of estimates and assumptions made by Willow, including but not limited to: assumptions in respect of current and future market conditions; future operations of Willow, including its ability to successfully achieve the Milestone; and successful implementation of Willow's commercialization and production strategy, generally.

当在本新闻稿中使用“将”、“预期”、“相信”、“可能”、“估计”、“预期”、“意图”、“可能”、“项目”、“前景”、“可能”、“将”、“应该”等词语时，类似的表达也将出现在识别前瞻性陈述的陈述中。前瞻性陈述基于Willow做出的多项估计和假设，包括但不限于：关于当前和未来市场状况的假设；Willow的未来运营，包括其成功实现里程碑的能力；以及柳树商业化和生产战略的成功实施。

Forward-looking statements are subject to a wide range of risks and uncertainties, and although Willow believe that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements, including but not limited to: the success of Willow's research and development strategies; infringement on intellectual property; failure to benefit from partnerships; actions and initiatives of federal, state and provincial governments and chang.

前瞻性陈述会受到各种风险和不确定性的影响，尽管Willow认为此类前瞻性陈述所代表的期望是合理的，但无法保证此类期望会实现。任何数量的重要因素都可能导致实际结果与前瞻性声明中的结果存在重大差异，包括但不限于：Willow研发战略的成功；侵犯知识产权；未能从伙伴关系中受益；联邦、州和省政府以及chang的行动和倡议。

The forward-looking statements contained in this news release are made as of the date hereof and Willow does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement..

本新闻稿中包含的前瞻性声明自发布之日起发布，Willow不承担任何公开更新或修订任何包含的前瞻性声明的义务，除非适用法律要求。本警示声明明确限定了本文所含的前瞻性声明。。

SOURCE Willow Biosciences Inc.

来源：Willow Biosciences Inc。