Toronto, ON --
November 06, 2018 -- InvestorsHub NewsWire -- Wayland
Group (CSE:WAYL) (FRANKFURT: 75M) (OTCQB:MRRCF) (“Wayland” or the
“Company) is pleased to announce that the Company has entered the
South American market through a transaction in Colombia. Wayland
has entered into a definitive agreement to acquire 100% of the
outstanding shares of Colma Pharmaceutical SAS (“Colma”), a
licenced producer of THC cannabis in Colombia, holding four
licences for cultivation and processing on a leased premise in
Ibague, Colombia. Under the terms of the agreement, Wayland will
issue 11 million common shares as consideration for the shares of
Colma with shares being issued at a deemed price of CAD$2.00 per
share.
It is anticipated that
following the completion of the acquisition that Wayland will
cultivate THC cannabis outdoor and year-round with an
infrastructure investment including 415,000 sq. ft. (38,554 sq. m)
of processing and clone and vegetation greenhouse facilities to
support outdoor cannabis flower production of 125 hectares. It
is expected that a minimum of two full harvests will be achieved
per year operating in an ideal climate. The current plan is for
initial crude extraction to be completed in Colombia and exported
for further distillation in Wayland’s global Active Pharmaceutical
Ingredient (API) facilities in Germany. This will provide the
Company with a platform to create a complete range of isolates of
cannabinoids adding a sustainable supply for extraction and further
distillation of cannabinoids. Wayland is certified under EU-GMP
production standards for processing in Canada and expects to
achieve the same status in its German operations, adding Good
Agriculture and Collection Practice (GACP) standards in all
international cultivation operations.
“Our move to outdoor
cultivation in Colombia is the first step in creating a reliable
and consistent mass supply of cannabinoid isolates for the global
market, including THC and CBD, and importantly commercial
quantities of lesser known CBG and CBN. We will be
establishing a robust outdoor flowering operation as a source of
products to be manufactured for global distribution from Ebersbach,
Germany. We continue to move aggressively in the international
market, creating a global presence, built on a rational business
platform of geographic cost centers,” stated Ben Ward,
CEO.
Maricann Group Inc.,
through its subsidiaries, is operating under the Wayland Group
name. For further details see the press release dated September 24,
2018.
About Wayland
Group
Wayland is a vertically
integrated producer and distributor of cannabis for medical
purposes. The Company was founded in 2013 and is based in
Burlington, Ontario, Canada and Munich, Germany, with production
facilities in Langton, Ontario where it operates a medicinal
cannabis cultivation, extraction, formulation and distribution
business under federal licence from the Government of Canada. The
Company also has production operations in Dresden, Saxony, Germany
and Regensdorf, Switzerland.
Forward Looking
Statements
This news release includes
forward-looking information and statements, which may include, but
are not limited to, information and statements regarding or
inferring the future business, operations, financial performance,
prospects, and other plans, intentions, expectations, estimates,
and beliefs of the Company. Such statements include statements
regarding the completion of the proposed acquisition and the plans
for the assets of the entities being acquired, its plan to achieve
EU-GMP production standards in its German operations and GACP
standards in all international cultivation operations and the plan
to create a reliable and consistent mass supply of cannabinoid
isolates for the global market. As noted above completion of
the transactions are subject to a number of conditions and there is
no certainty that either transaction will be completed on the terms
set forth in this press release or at all.
Forward-looking information and statements involve and are
subject to assumptions and known and unknown risks, uncertainties,
and other factors which may cause actual events, results,
performance, or achievements of the Company to be materially
different from future events, results, performance, and
achievements expressed or implied by forward-looking information
and statements herein. Although the Company believes that any
forward-looking information and statements herein are reasonable,
in light of the use of assumptions and the significant risks and
uncertainties inherent in such information and statements, there
can be no assurance that any such forward-looking information and
statements will prove to be accurate, and accordingly readers are
advised to rely on their own evaluation of such risks and
uncertainties and should not place undue reliance upon such
forward-looking information and statements. Any forward-looking
information and statements herein are made as of the date hereof,
and except as required by applicable laws, the Company assumes no
obligation and disclaims any intention to update or revise any
forward-looking information and statements herein or to update the
reasons that actual events or results could or do differ from those
projected in any forward looking information and statements herein,
whether as a result of new information, future events or results,
or otherwise, except as required by applicable
laws.
The Canadian
Securities Exchange has not reviewed, approved or disapproved the
content of this news release.
For more information about
Maricann, please visit our website at www.waylandgroup.com
CONTACT
INFORMATION
Investor Relations
Graham Farrell
VP, Communications
Graham.Farrell@waylandgroup.com
647-643-7665
Media
Inquiries: media@waylandgroup.com
Corporate Headquarters
(Canada)
Wayland Group Corp. (Toronto)
845 Harrington Court, Unit 3
Burlington Ontario L7N 3P3
Canada
289-288-6274
European Headquarters (Germany)
Maricann GmbH
Thierschstrasse 3, 80538 Munchen, Deutschland