Wayland Group Announces Strategic Acquisition in Argentina
TORONTO, ON, December 11, 2018 – 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 provinces’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 compromised 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 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 Wayland, please visit our website at www.waylandgroup.com
Contact Information: Investor Relations Graham Farrell VP, Communications Graham.Farrell@waylandgroup.com 647-643-7665
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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