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Vancouver, British Columbia – May 18, 2021 – Willow Biosciences Inc. (“Willow” or the “Company“) (TSX: WLLW; OTCQX: CANSF), a Canadian biotechnology company that manufactures ultra-pure, sustainably produced cannabinoids via yeast-based biosynthesis, announced today that it has been added to “the Cannabis ETF” (NYSE: THCX) (“THCX“), an exchange traded fund trading on NYSE Arca.

“As the only publicly traded, pure-play company that is biosynthetically producing cannabinoids, inclusion in THCX will allow us to reach a much broader group of investors looking to capture the large, global, total addressable market Willow is targeting,” said Trevor Peters, Willow’s President & Chief Executive Officer. “As we have just commenced the commercialization stage of our first cannabinoid, cannabigerol (“CBG”), this milestone comes at the perfect time as we are transitioning into a revenue generating company.”

Listed on NYSE Arca, THCX tracks the Innovation Labs Cannabis Index, a portfolio of 33 stocks that are expected to benefit from the growth of the legal global marijuana, cannabidiol (“CBD”) and hemp industries. Willow’s inclusion in the index is part of THCX’s expansion to include various cannabis industry sub-themes, which now includes Willow’s industry leading platform manufacturing capabilities which results in ultra-pure, sustainably produced cannabinoids that are created with a fraction of the environmental footprint that traditional plant cultivation yields. Willow’s technology is intended to appeal to investors looking to participate in the next generation of cannabinoid manufacturing.

About Willow Biosciences Inc.

Willow is a Canadian biotechnology company that develops and produces high-purity, plant derived ingredients for consumer care, food and beverage, and pharmaceutical products. Willow’s manufacturing process creates a consistent, scalable and sustainable product that benefits industry and consumers. Willow’s team has a proven track record of developing and commercializing bio-based manufacturing processes and products for both the consumer and pharmaceutical industries.

For further information, please email [email protected]; visit our website at www.willowbio.com or contact:

Trevor Peters

President and Chief Executive Officer

T: (403) 669-4848

Troy Talkkari, CFA

Vice President, Corporate Development

T: (403) 618-1117

150, 2250 Boundary Road Burnaby, BC V5M 3Z3

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