TORONTO, May 02, 2019 (GLOBE NEWSWIRE) -- Wayland
Group (CSE:WAYL) (75M.F) (MRRCF) (“Wayland†or the “Companyâ€) confirms that
any failure-to-file cease trade order (“FFCTOâ€) derived from the
Company’s delay in annual filings will not materially affect the
Company’s sale of a 49.9% interest in its international asset and
license portfolio to ICC International Cannabis Corp (the
“Transactionâ€).
Wayland is of the opinion that the Company’s delay in annual filings will not impede closing timeline of the Transaction.
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 and, Allesandria,
Piedmont, Italy. Wayland will continue to pursue new opportunities
globally, including the consummation of its previously announced
transactions in the United Kingdom, Australia, Colombia, and
Argentina, 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 abilities to store and service the German Market, as well as the Company’s improved margins. 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 Company will be able to shorten its lead times and improve its margins with such certifications. 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
[email protected]
647-643-7665
Media Inquiries: [email protected]
Corporate Headquarters (Canada)
Wayland Group Corp. (Toronto)
845 Harrington Court, Unit 3
Burlington Ontario L7N 3P3
Canada
289-288-6274
European Headquarters (Germany)
Wayland (Deutschland) GmbH
c/o Wayland
Max Joseph Str. 7
80333 Munich