- Willow Biosciences (TSX:WLLW) unveiled a C$30 million recapitalization financing plan, alongside a sweeping reorganization that will see the company emerge as Atlas Energy Corp.
- Following the reorganization, Atlas Energy Corp. will pivot its focus toward becoming an international upstream royalty and streaming company
- Atlas will aim to build a diversified portfolio of oil and gas royalty and streaming assets, with a primary focus on international markets and selective opportunities in North America.
- Willow Biosciences stock (TSX:WLLW) closed 200 per cent higher on Wednesday at $0.03 and rose a further 16 per cent at Thursday’s open
Willow Biosciences (TSX:WLLW) unveiled a transformative C$30 million recapitalization financing plan, alongside a sweeping reorganization that includes a new executive team, board of directors, and a rebranding initiative that will see the company emerge as Atlas Energy Corp.
The company explained in a news release that it had signed a definitive agreement with a group of initial investors—Mark Hodgson, Don Kornelsen, Ryan Giroux, Blair Anderson, and Richard Naden—who will lead the strategic shift. The recapitalization will be executed through a non-brokered private placement, raising gross proceeds of $30 million.
As part of the transaction, Willow Biosciences will undergo a name change to Atlas Energy Corp., pending shareholder approval. The company also plans to consolidate its common shares on a 1-for-5 basis to meet TSX Venture Exchange listing requirements. Upon completion, the company will delist from the Toronto Stock Exchange and begin trading on the TSXV under the new ticker symbol ATLE.
The new executive team will be spearheaded by:
- Mark Hodgson, president & CEO
- Travis Doupe, chief financial officer
- Don Kornelsen, VP, commercial
- Ryan Giroux, VP, corporate development
- Blair Anderson, VP, geoscience
- Richard Naden, senior executive
Following the reorganization, Atlas Energy Corp. will pivot its focus toward becoming an international upstream royalty and streaming company. The firm aims to build a diversified portfolio of oil and gas royalty and streaming assets, with a primary focus on international markets and selective opportunities in North America.
The transaction is expected to close around June 19, 2025, subject to regulatory and shareholder approvals.
It was only back in March when Willow reported a net loss of C$6.1 million in 2024 and declared it would cease active operations.
Willow Biosciences Inc. develops and produces precision fermented functional ingredients for the health and wellness, food and beverage and personal care markets.
(Willow Biosciences stock performance – April to May 2025.)
Willow Biosciences stock (TSX:WLLW) closed 200 per cent higher on Wednesday at $0.03 and rose a further 16 per cent at Thursday’s open. While it has seen 500 per cent growth in the past month, it is also 66.67 per cent lower than where it was this time last year.
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