Wayland Signs Minimum 9,000 kilograms Supply Agreement with Cannamedical for Export of Product from Canada to Germany
TORONTO, Oct. 15, 2018 (GLOBE NEWSWIRE) -- Wayland Group (CSE:WAYL) (FRANKFURT: 75M) (OTCQB:MRRCF) ("Wayland" or the "Company) is pleased to announce that it has entered into an agreement to supply Cannamedical Pharma GmbH, a licensed, privately owned importer and distributor of cannabis in Germany to over 2,200 pharmacies with a minimum of 9,000 kilograms of EU-GMP certified cannabis flowers over a three year term. The companies have completed mandatory quality assurance and control audits and have scheduled the first shipment in December of 2018.
"The decision we made in early 2017 to move to EU-GMP standards for all production, including cannabis flowers, followed by certification in the spring of this year by the German Health Authorities, provides the Company with the opportunity to move a significant amount of product, in this case 9,000 kilograms to Germany. We're proud to be one of six companies worldwide out of thousands of cannabis producers who can say we pass the test and exceed EU-GMP standards for dry cannabis flowers. This agreement will provide meaningful revenue and profit to the Company over the next three years as we build a sustainable business," stated Ben Ward, CEO of Wayland.
"We are pleased to enter into this agreement with Wayland. Being able to meet the exponentially growing demand of our European client base strengthens our position as the largest independent and privately-owned cannabis distributor in Germany. Cannamedical will formally introduce its CannaSativa®, CannaIndica® and Cannahybrid® product lines during next week's German pain congress in Mannheim, Germany," stated David Henn, CEO of Cannamedical.
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 marijuana 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. Wayland is currently undertaking an expansion of its cultivation and support facilities in Canada in a 942,000 sq. ft. (87,515 sq. m) footprint upon full buildout and will continue to pursue new opportunities in Europe.
Cannamedical has been one of the first to specialize in highly efficient pharma distribution and marketing in accordance with the narcotics regulations in Germany. The privately-owned, GDP certified company holds all licenses required for medical cannabis import to Germany, distribution and export within the European Union. Serving a growing network of 2.200 German pharmacies from a centrally located, GMP certified storage facility, Cannamedical is well positioned to expand its footprint within European Union medical Cannabis market. For more information about Cannamedical, please visit our website at www.cannamedical.com
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 those relating to the potential revenue and profit of the Company. 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.
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