WILLOW BIOSCIENCES ANNOUNCES SECOND STRATEGIC INVESTMENT FROM KALSEC

CALGARY, AB, Feb. 29, 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 second strategic investment (the “Milestone Investment“), by way of non-brokered private placement, from Kalsec^® Inc. (“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 Milestone Investment is connected to the Kalsec investment announced by the Company on February 20, 2024, pursuant to which Kalsec committed to subscribe for an additional US$100,000.00 on the completion of an operational milestone by Willow to develop a strain that meets certain performance criteria (the “Milestone“). This Milestone was achieved by the Company on February 23, 2024. Proceeds from the Milestone Investment 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.

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