TORONTO, ON --
December 11, 2018 -- InvestorsHub NewsWire -- Wayland
Group (CSE:WAYL) (FRANKFURT: 75M) (OTCQB:MRRCF) (“Wayland” or the
“Company”) is pleased to announce it has entered into an agreement
to purchase 819 hectares of existing developed agriculture land in
San Juan Province in Argentina.
San Juan Province is ideal
for cannabis cultivation due to the province’s climate and
altitude. The presence of a stable economy and infrastructure to
support business development is another contributing factor for the
Company’s interest in the country. Recent construction of 120 MW of
hydroelectricity production, new roads and a highly skilled labour
pool, with a rich history of agricultural production and further
processing capabilities make San Juan an ideal choice for
development for Wayland.
"We have been welcomed
warmly by the government of San Juan and the people of
Argentina. We look forward to developing this major global
project which will directly impact and benefit the local community,
state and country. We are committed to long term economic
development that supports our global plan, to enhance lives through
cannabis." Stated Ben Ward, Wayland Group CEO.
Wayland has developed and
is implementing a long-term growth strategy based on centres of
efficiency from international operations which will result in
greater long-term profitability. The Company continues to see the
rapid global expansion of the regulated market for cannabis,
replacing unregulated “black” markets. The Company is dedicated to
providing safer products, and innovative delivery forms to patients
and consumers. Following the legalization of cannabis in
Canada, Wayland maintains its commitment to the medical market
internationally, and building a truly global business focused on
enhancing lives through cannabis.
“The medical cannabis
industry is one of the fastest growing areas of business in the
world, both for what it implies in the health sector and for the
high economic performance per hectare. Wayland found in our
province an ideal place because of the climate, the stable economy
and the infrastructure that San Juan provides. The government of
San Juan has been very cautious on this matter since we were
looking for the establishment of serious pharmaceutical-grade
companies to implement the new Medicinal Cannabis Law. As Governor
I am proud to welcome a project of such magnitude to our Province.”
– Stated Sergio Uñac, Governor of San Juan
Province.
Total purchase price for
the acquisition is USD$8.5MM comprised of USD$4MM in stock
(3,225,806 shares based on a $1.65 stock price) and USD$4.5MM in
cash. The payment in common shares is conditional on receipt of
stock exchange and any other applicable
approvals.
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 cultivator and processor of
cannabis. 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 cannabis
cultivation, extraction, formulation, and distribution business
under federal licenses from the Government of Canada. The Company
also has production operations in Dresden, Saxony, Germany,
Regensdorf, Switzerland, Allesandria, Piedmont, Italy, Ibague,
Colombia, London, UK and now Argentina. Wayland will continue to
pursue new opportunities globally in its effort to enhance lives
through cannabis.
Forward Looking
Information
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 Company's plans for its operations
in Argentina, and the Company’s continued global expansion,
including with respect to the terms of the proposed transaction,
its effect on the Company’s global platform and the number and
price at which Common Shares are expected to be issued.
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.
Such assumptions, risks, uncertainties and other factors include,
but are not limited to, that the proposed transaction will be
completed on the terms and timelines anticipated by the Company or
at all, the effect that the proposed acquisition, when completed,
will have on the Company’s global platform, that all necessary
stock exchange, regulatory and other approvals will be received in
connection with the proposed or potential issuances of Common
Shares under the proposed transaction on the timelines anticipated
or at all and that all other conditions to closing will be
satisfied in the manner anticipated. 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
Wayland, 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