TORONTO, April 23, 2019 (GLOBE NEWSWIRE) — Wayland Group (CSE:WAYL) (FRANKFURT: 75M) (OTCQB:MRRCF) (“Wayland” or the “Company”) is admiring to advertise that the Aggregation has active a absolute acceding to advertise a 49.9% absorption in Wayland’s all-embracing portfolio of assets to ICC All-embracing Cannabis Corp. (CSE:WRLD.u) (FW8:8K51) (OTC:WLDCF) (“ICC”). The acceding of the absolute acceding are constant with the Letter of Intent that was appear on January 15, 2019. Wayland will accept 300,000,000 shares of ICC beneath the agreement, apery about 35% of the accepted outstanding ICC shares on a absolutely adulterated basis. Wayland is additionally admiring to advertise that Matthew McLeod, the accepted General Counsel and Vice President Operations and Compliance, has been appointed as President able immediately.
In addition, beneath the proposed transaction Wayland will affirmation a three-year accumulation acceding with ICC that will accumulation ICC with 10,000kg of EU-GMP certified artefact per year, for a absolute of 30,000kg during the term.
Prior to closing, Wayland’s all-embracing business will be reorganized and captivated in a accessory which will be appropriately endemic by Wayland and ICC. Wayland will absorb the appropriate to accredit the lath of admiral and administration of the Wayland all-embracing subsidiary.
Ben Ward, CEO of Wayland commented, “The proposed transaction with ICC will advice Wayland to assassinate on the eyes and belvedere accustomed over the accomplished two-and-a-half years to accompany medical cannabis to evolving all-around markets. From our antecedent one-hectare armpit in Langton, Ontario, Canada, we accept adapted the aggregation into a all-around baton with a acceptability for quality, evidently authentic by three federal Licenses from Health Canada, acceptable an antecedent allocation for our collective adventure DEMECAN GmbH in Germany from BfArM and end to end export/import EU-GMP acceptance for both Canadian and German facilities.”
The Aggregation expects this transaction to access Wayland’s acknowledgment to an all-embracing brand that the Aggregation believes provides above abeyant opportunities. It additionally creates an befalling for synergies with ICC, architecture on the aboriginal enactment congenital by ICC and by Wayland in assorted European countries with basal overlap. Wayland has congenital an absorbing all-embracing portfolio of assets and the Aggregation intends to coact with ICC to advance mutually benign assembly and administration strategies, branding campaigns, as able-bodied as strategies for the connected assimilation of new cannabis and CBD markets and verticals.
Wayland’s ahead appear cardinal analysis continues to analyze options to aerate the amount of Wayland’s all-embracing and Canadian businesses for the account of its shareholders and added stakeholders, and such options may accommodate affairs with added third parties.
Internationally, Wayland expects to abide to assignment to analyze opportunities to alleviate and actualize added amount for its shareholders from its all-embracing footprint. In Canada, accountable to developments in the cardinal review, Wayland will abide to serve its bigoted ally and absolute accommodating base. Shipments from Wayland’s advanced EU-GMP appointed ability in Langton, Ontario to Cannamedical in Germany accept additionally begun. Wayland believes this currently represents the better all-embracing consign arrangement in the industry.
The proposed transaction with ICC charcoal accountable to altitude to closing, including cancellation of any applicative third party, securityholder and authoritative consents and approvals, the achievement of a about-face of Wayland’s all-embracing business and the cancellation by anniversary of Wayland and ICC of candor opinions from their corresponding banking admiral and added accepted altitude to closing a transaction of this nature. A archetype of the absolute acceding will be filed beneath Wayland’s contour on SEDAR at www.sedar.com.
About Wayland GroupWayland is a angular chip agriculturalist and processor of cannabis. The Aggregation was founded in 2013 and is based in Burlington, Ontario, Canada and Munich, Germany, with assembly accessories in Langton, Ontario area it operates a cannabis cultivation, extraction, formulation, and administration business beneath federal licenses from the Government of Canada. The Aggregation additionally has assembly operations in Dresden, Saxony, Germany, Regensdorf, Switzerland and, Allesandria, Piedmont, Italy. Wayland will abide to accompany new opportunities globally, including the cleanup of its ahead appear affairs in the United Kingdom, Australia, Colombia, and Argentina, in its accomplishment to enhance lives through cannabis.
Forward Attractive Information
This account absolution includes advanced advice and statements, which may include, but are not bound to, advice and statements apropos or answer the approaching business, operations, banking performance, prospects, and added plans, intentions, expectations, estimates, and behavior of the Company. Such statements accommodate statements apropos the Company’s abilities to abundance and account the German Market, as able-bodied as the Company’s bigger margins. Advanced advice and statements absorb and are accountable to assumptions and accepted and alien risks, uncertainties, and added factors which may account absolute events, results, performance, or achievements of the Aggregation to be materially altered from approaching events, results, performance, and achievements bidding or adumbrated by advanced advice and statements herein. Such assumptions, risks, uncertainties and added factors include, but are not bound to, that the Aggregation will be able to abbreviate its advance times and advance its margins with such certifications. Although the Aggregation believes that any advanced advice and statements herein are reasonable, in ablaze of the use of assumptions and the cogent risks and uncertainties inherent in such advice and statements, there can be no affirmation that any such advanced advice and statements will prove to be accurate, and appropriately readers are brash to await on their own appraisal of such risks and uncertainties and should not abode disproportionate assurance aloft such advanced advice and statements. Any advanced advice and statements herein are fabricated as of the date hereof, and except as appropriate by applicative laws, the Aggregation assumes no obligation and disclaims any ambition to amend or alter any advanced advice and statements herein or to amend the affidavit that absolute contest or after-effects could or do alter from those projected in any advanced attractive advice and statements herein, whether as a aftereffect of new information, approaching contest or results, or otherwise, except as appropriate by applicative laws.
The Canadian Securities Exchange has not reviewed, accustomed or banned the agreeable of this account release
For added advice about Wayland, amuse appointment our website at www.waylandgroup.com
Contact Information:Investor Relations Graham Farrell VP, [email protected] 647-643-7665
Media Inquiries: [email protected]
Corporate Headquarters (Canada)Wayland Group Corp. (Toronto)845 Harrington Court, Unit 3Burlington Ontario L7N 3P3Canada289-288-6274
European Headquarters (Germany)Wayland (Deutschland) GmbHc/o WaylandMax Joseph Str. 780333 Munich
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