Wayland Group Announces Closing of Over-Allotment Option for Additional Gross Proceeds of $7.5 Million
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
TORONTO, ON, November 8, 2018 – Wayland Group (CSE:WAYL) (FRANKFURT: 75M) (OTCQB:MRRCF) (“Wayland” or the “Company”) announced today that, further to its press release dated October 31, 2018 and in connection with its previously announced bought deal financing, it has issued an additional 4,552,500 Units (the “Units”) at a price of $1.65 per Unit (the “Offering Price”) for total gross proceeds of $7,511,625, pursuant to the exercise in full of the Underwriters’ over-allotment option. The aggregate gross proceeds of the Offering, including the over-allotment option, total $57,589,125 (the “Offering”).
The Offering was completed by a syndicate of underwriters led by Canaccord Genuity Corp. and including Haywood Securities Inc., AltaCorp Capital Inc., and GMP Securities L.P. (collectively, the “Underwriters”).
The securities offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
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.