Wayland Group to Explore Strategic Alternatives to Maximize Shareholder Value Including the Spinout and/or European Listing of its International Assets
Wayland Group Corp. (CSE:WAYL; FWB:75M; OTCQB:MRRCF) (“Wayland” or the “Company”), a global, vertically integrated cultivator and processor of cannabis, today announced that its Board of Directors has initiated a process to explore a broad range of strategic alternatives, including, but not limited to assessing the potential spin-out and/or European listing of its international assets (the “International Assets”) in an effort to unlock the value of the Company’s vast international asset portfolio (a “Spinout Transaction”), as well as its underlying domestic Canadian assets. Any Spinout Transaction of the International Assets could include the Company’s European, Latin American, and Asia-Pacific operations.
The Company strongly believes in its current strategy; however, it does not believe its current share price accurately reflects the global portfolio Wayland has, and continues to create.
“We have demonstrated our capability in predicting future markets and working systematically to put supply chain in place, with some of the lowest transaction costs for international acquisitions in addition to organic growth and partnerships. Our exponential growth model has tremendous potential, as it is built on the solid foundation we have laid from five years of organizational learning as a licensed producer in Canada. This has allowed us to become one of five companies with EU-GMP certification on top of having all the requisite cultivation and processing licenses in Canada. It is time for us to capitalize on the largest future cannabis market in the world and focus our efforts in the wellness and medical markets to accomplish our vision of enhancing life through cannabis,” stated Ben Ward, CEO of Wayland.
Canaccord Genuity Corp. has been retained to serve as the Company’s financial advisor related to the strategic review process.
There can be no assurance the strategic review will result in the completion of any transaction or any other alternative. The Company has not set a timetable for completion of the review process, and it does not intend to comment further unless a specific transaction or alternative is approved by the Board of Directors, the review process is concluded, or it is otherwise determined that other disclosure is appropriate.
Paul Pathak, Chairman of the Board commented, “Our Board is committed to maximizing value for our shareholders. Our management team has done a terrific job of building a state of the art cultivation facility in Langton and securing significant distribution agreements with several of the Provinces, while at the same time assembling an impressive portfolio of international assets. Our end goal, however, is to translate that into value for our shareholders and we are confident that the results of our strategic review and potential spin-out of our international assets will be important steps to accomplish that.”
Wayland has several active initiatives in Germany that give the Company a distinct advantage in the German and European markets. The Company is the only organization in the world that has a facility ready for domestic cannabis cultivation. Located in Ebersbach, just outside of Dresden, the proposed facility gives Wayland 820,000 square feet of clean-room cultivation, processing, and extraction capabilities. It is currently being utilized to process industrial hemp from the Company’s adjacent 164-hectare hemp operation where the Company recently completed their first harvest yielding over 120,000 kg of dry hemp flowers. Once processed, the CBD distillate will be used for the Company’s recently launched nutraceutical business, MariPlant GmbH. Finally, the Company expects to receive their second EU-GMP certification for the Ebersbach facility in a matter of weeks, further strengthening Wayland’s medical production and distribution capabilities.
Wayland’s second European cultivation site is located in Regensdorf, Switzerland, a suburb of Zurich. The 60,000 square foot facility’s current production profile is approximately 2,000 kg of CBD flower per year. Wayland plans to upgrade this facility to bring it in line with the Company’s production standards from existing GACP standards and increase capacity to 14,000 kg per year with the goal of developing their own CBD products for sale throughout Switzerland and the rest of the European Union. Wayland will locate its Active Pharmaceutical Ingredients (API) manufacturing site for its global operations in Switzerland, taking advantage of existing phyto pharmaceutical talent in country.
Wayland has a definitive joint venture agreement with CBD Italian Factory S.S., a company of Group San Martino for the production of high quality cannabis products in Italy. The Company expects that the joint venture will marry the best of both entities with world-leading technology by Rockwell Automation paired with existing infrastructure in Piedmont, Italy, which includes agricultural expertise and biogas electricity. This will allow the sustainable production of quality CBD and THC products from a naturally derived fuel source. CBD Italian Factory S.S. and San Martino Group will bring mass-scale agricultural skills to the joint venture with a focus on local sustainable practices and expertise in Biomass Energy production. The Company holds 50.1 % of the joint venture while 49.9% is held by CBD Italian Factory, with Massimiliano Umberto Signorini assuming the role of CEO for the new company.
In July of 2018, Wayland’s application to Malta Enterprise to set up a business in Malta to manufacture finished dose medical cannabis was approved. Malta will offer the Company a unique advantage as Wayland will have the ability to import, extract, manufacture finished dose products, and distribute cannabis for medical purposes within Malta and the entire European Union. Malta Enterprise allows the Company to develop a wide variety of pharmaceutical products and export them across the European Union, and as Malta is a member of the EU, certain VAT tax are inapplicable to Malta Enterprise.
The Company has entered into an agreement to acquire a 51% stake in U.K. based Theros Pharma Ltd. (“Theros”), an early stage company that has successfully imported cannabis to the U.K. for patients with a prescription for medical cannabis. The company expects to be able to import cannabis to patients in the UK as early as March 2019.
Latin American and Asia Pacific Assets
Wayland has entered into an agreement to purchase 819 hectares of existing developed agriculture land in San Juan Province in Argentina, which is the ideal micro climate for cultivation. The properly has existing mass scale irrigation, using runoff from the Andes Mountains, and produces 1,000,000 kg of wine juice, and 400,000 kg of olives per year. Existing on site agronomists and farmers will take their knowledge of horticulture and apply it to Wayland’s existing world class system of cannabis cultivation. Outdoor cultivation will take place in existing alfalfa fields, to supply Wayland with low cost inputs. Initial extraction will take place in Argentina.
The Company has entered into an agreement to acquire 100% of the outstanding shares of Colma Pharmaceutical SAS (“Colma”), a licensed producer of THC cannabis in Colombia, holding four licenses for cultivation and processing on a leased premise in Ibaque, Colombia. Wayland plans to cultivate THC cannabis outdoor and year-round with an infrastructure investment including 415,000 square feet of processing and clone and vegetation greenhouse facilities to support outdoor cannabis flower production of 125 hectares.
Wayland has entered into an agreement to acquire 50.1% of Tropicann Pty Ltd. (“Tropicann”), a privately owned Australian company located in Darwin, Northern Territory. It plans to build an outdoor grow facility to take advantage of the ideal cannabis cultivation climate with minimal environmental impact. The Company believes it can leverage a major port in Darwin that will provide access to major APAC markets.
The Company’s flagship facility is located in Langton, Ontario with cultivation, extraction, formulation, and distribution capabilities. The facility is a purpose-built cannabis production facility with an emphasis on automation and energy efficiencies. The Company partnered with Rockwell Automation to develop a fully automated system including the development of AI Data Grow, the Company’s artificially intelligent master grower. This allows Wayland to drastically reduce its cultivation labour needs by approximately 90% of the industry average while also mitigating risks associated with infecting crops. The facility will be completed in two phases, the first of which is approximately 225,000 square feet in size with 90,000 square feet of production and office space and approximately 135,000 square feet of grow space which will yield the Company approximately 65,000 kg of dried cannabis flower per year. Phase two will bring an additional 719,000 square feet of grow space online taking production capacity much greater than 100,000 kg per year.
Wayland’s Langton campus has been certified by the European Medicines Agency after receiving the certification of EU-Good Manufacturing Practices (“EU-GMP”). EU-GMP certification allowed Wayland to sign the largest ever medical cannabis export deal with Cannamedical of Germany, agreeing to provide the medical cannabis distributor with a minimum of 9,000 kg of product over a three-year period. Wayland is one of only five cannabis companies in the world to receive the EU-GMP designation which is another advantage the Company believes it has in the global medical cannabis arena as demonstrated by this large purchase order.
- Manitoba: Supply agreement with the Manitoba Liquor & Lotteries Corporation (“MBLL”) to make available for purchase by MBLL at least 550kg of various cannabis products during the first twelve months of the agreement.
- Alberta: Supply Agreement with the Alberta Gaming, Liquor & Cannabis Commission (“AGLC”) to allocate up to 3,375kg of cannabis product for the Alberta market within the first six months.
- British Columbia: Through a memorandum of understanding (“MOU”), Wayland is a preferred licensed producer to the BC Liquor Distribution Branch (“BCLDB”) to initially supply approximately 3,622kg of non-medical cannabis to BCLDB over the first 12 months following legalization.
- Ontario: Selected by The Ontario Cannabis Store (“OCS”) to supply a variety of safe, high quality cannabis products through its online store since launching October 17, 2018.
The Company has taken a purposeful and consumer-centric approach to each of its brands/offerings, each validated and optimized with local consumer research. Strains within each portfolio will match brand positioning and satisfy target consumer needs and benefits.
- Solara C: Designed for the modern, active consumer who is looking to find solutions to help them live healthier/better without using stronger pharmaceutical alternatives. This brand will be CBD-only and create a wide range of products from beverages to topical creams with the expressed purpose of promoting a healthy, balanced lifestyle.
- Kiwi: Designed for light users who are new to the category and looking to better understand Cannabis and its effects. The brand will exist to simplify and make the cannabis experience more welcoming and approachable to the masses.
- Northern Harvest: Designed for light / medium users who enjoy Cannabis as part of their active and social lives. The brand will exist to promote a more natural and balanced approach to Cannabis with a focus on providing a fun and lighthearted experience.
- High Tide: Designed for medium to heavy users who enjoy the cerebral effects of Cannabis. This brand will produce high quality, high THC cannabis with the expressed purpose of pushing the limits of the THC experience.
- Lost at Seed: Designed for medium to heavy users who want only the best Cannabis money can buy. This brand will provide highly desirable and impossible to find strains only available on a limited assortment basis.
- Rare Dankness: This partner brand will be for experienced Cannabis users who are knowledgeable about strains, potencies and profiles. It will offer a wide selection of premium award-winning strains that users won’t be able to find anywhere else.
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 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, Allesandria, Piedmont, Italy, Ibague, Colombia, London, UK, Australia, and Argentina. Wayland will continue to pursue new opportunities globally 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 plans for its operations in all regions, proposed acquisitions, the Company’s continued global expansion, its effect on the Company’s global platform and the Spinout Transaction. 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 proposed transactions will be completed on the terms and timelines anticipated by the Company or at all, the effect that the proposed transactions, and Spinout Transaction if and when completed, will have on the Company’s global platform, that all necessary stock exchange, regulatory and other approvals will be received in connection with the proposed transactions and or the Spinout Transaction. 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.
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
Media Inquiries: email@example.com
Corporate Headquarters (Canada)
Wayland Group Corp. (Toronto)
845 Harrington Court, Unit 3
Burlington Ontario L7N 3P3
European Headquarters (Germany)
Thierschstrasse 3, 80538 Munchen, Deutschland
Ayurcann Holdings Corp. (CSE: AYUR) (the “Company” or “Ayurcann”) an integrated Canadian extraction company specializing in the processing of cannabis and hemp for the production of oils and various derivative products, announces the granting of stock options and restricted share units.
The Company has announced that it has granted incentive stock options to directors, officers, employees and consultants of the Company to purchase an aggregate of 1,000,100 common shares under the Company’s Stock Option Plan. Each option is exercisable at a price of $0.16 per common share, expires three years from the date of grant and vest six months from the date of the grant.
The Company has also granted restricted share unit grants, pursuant to the Company’s Restricted Share Unit plan, dated April 1, 2021, totaling 1,548,875 to certain eligible participants.
For further information, please contact:
Igal Sudman, Chairman, Chief Executive Officer and Corporate Secretary
Ayurcann Holdings Corp.
About Ayurcann Holdings Corp.:
Ayurcann is a leading post-harvest solution provider with a focus on providing and creating custom processes and pharma grade products for the adult use and medical cannabis industry in Canada. Ayurcann is focused on becoming the partner of choice for leading Canadian cannabis brands by providing best-in-class, proprietary services including ethanol extraction, formulation, product development and custom manufacturing.
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
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A planned business merger between two leading cannabis producers hit a small delay this week as a critical vote got moved.
Keep reading to find out more cannabis highlights from the past five days.
Tilray delays critical shareholder meeting
On Thursday (April 15), Tilray (NASDAQ:TLRY) announced it will be postponing its shareholder vote on the fate of its merger with Aphria (NASDAQ:APHA,TSX:APHA). It will take place on April 30 instead of April 16.
Neither cannabis company offered an explanation for the change. Tilray has asked shareholders to participate in this vote regardless of how many shares they may hold. “Tilray stockholders who have not already voted, or wish to change their vote, are strongly encouraged to do so,” the company said.
This news came days after Aphria shareholders overwhelmingly voted in favor of the business transaction, with a total of 99.38 percent of shareholders voting for the deal to continue. Confirmation from Aphria Chairman and CEO Irwin Simon indicated the partnership was en route to being complete.
This past week Aphria also released financial results for the third quarter of its 2021 fiscal year, in which the firm highlights the overall direction of the company with the Tilray deal.
“We expect to have a tremendous runway for long-term sustainable growth as we build upon our existing foundation in Canada and internationally by increasing the scale of our global operations,” Simon said in a statement.
Cannabis retailer celebrates digital trend
Bidding for the piece, named “Non-Fungible Toke“ started at a price of C$4.20. The retailer plans to donate the proceeds to two charities, Second Harvest and Less.
The latter is designed to counter the carbon footprint of blockchain technology, a common criticism drawn against the rise of NFTs and other novel technologies.
As of 11:00 a.m. EST on Friday (April 16), the NFT bid was up to C$169.11.
Cannabis company news
- The Valens Company (TSX:VLNS,OTCQX:VLNCF) issued its financial report for the first quarter of its 2021 fiscal year. In its results, the company highlights a net revenue uptick of 24.7 percent from the previous quarter, resulting in C$20 million for the period.
- Trulieve Cannabis (CSE:TRUL,OTCQX:TCNNF) closed a public offering of 5 million subordinate voting shares at a price of C$50 each for total gross proceeds of C$287.5 million. The company celebrated its financial position after an offering in January, which will lead to the pursuit of merger and acquisition targets.
- Australis Capital (CSE:AUSA,OTCQB:AUSAF) appointed Jason Dyck as its new chief science officer and chairman of the firm’s scientific advisory board. Dyck previously served as an executive at Aurora Cannabis (NASDAQ:ACB,TSX:ACB), leading the scientific efforts for the cannabis producer. “I look forward to providing AUSA with advice and direction in its scientific efforts towards bringing innovations to market with immediate and significant commercial appeal,” Dyck said.
- Truss Beverage, a cannabis drinks venture co-owned by Molson Coors Beverage Company (NYSE:TAP,TSX:TPX) and HEXO (NYSE:HEXO,TSX:HEXO), released the details of its new lineup of infused beverages. Six new drinks will become available around the summer and are intended to pair with the season.
Don’t forget to follow us @INN_Cannabis for real-time updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Partnerships with Minardi Law , Minorities for Medical Marijuana, CultivatED, and the Georgia Justice Project will include clinics and virtual events across Florida , Georgia , and Massachusetts
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today a series of expungment clinics located throughout south and central Florida as well as virtual events in Georgia and Massachusetts . The clinics are part of the Company’s celebration of the 50 th anniversary of 420.
During the month of April, Minardi Law has hosted expungment clinics and will be hosting two more as follows:
- Releaf Patient Appreciation Day, April 17 th ( Valrico )
- First Annual 4/20 Event ( St. Petersburg Beach )
At these clinics, an attorney will be present to review records and see if someone is eligible for a sealing or expungment of their records. As part of the events, Trulieve will be helping cover the costs for finger prints, legal fees, and court costs.
Trulieve is working with Minorities for Medical Marijuana (“M4MM”) to host a 4/20 Expungement Clinic, part of M4MM’s Project Clean Slate. This event will take place on Saturday, April 24, 2021 , from 9:30am – 4:30pm at Riviera Beach City Hall. Anyone seeking to take place in this event is required to register in advance at http://trulieve.cc/expungementpreregistration .
In addition, Trulieve is sponsoring the First Friday Series , a weekly virtual event from the Georgia Justice Project to help Georgia citizens with record restrictions, and is also sponsoring the Fellowship Presentation and Expungement Clinic being offered through CultivateEd and GBLS on Friday, April 23 from 3:00pm – 4:00pm . You can register for the Massachusetts expungement clinic in advance here: HTTPS://BIT.LY/2Q655KK
“Our mission as a company has always been to improve people’s lives,” said Trulieve CEO Kim Rivers . “We’ve always been dedicated to improving the communities we call home. Partnering with Minardi Law , Minorities for Medical Marijuana, Georgia Justice Project and CultivatED on these clinics was a simple decision for us; we encourage anyone seeking help with the expungement process to attend one of these clinics in your own state to start the process.”
For more information about Trulieve and the April expungment clinics, please visit www.Trulieve.com .
Trulieve is primarily a vertically integrated “seed-to-sale” company in the U.S. and is the first and largest fully licensed medical cannabis company in the State of Florida . Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout the State of Florida , as well as directly to patients via home delivery. Trulieve also has operations in California , Massachusetts , Connecticut and Pennsylvania. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF.
To learn more about Trulieve, visit www.Trulieve.com .
SOURCE Trulieve Cannabis Corp.
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Seth Rogen’s New Cannabis Brand are Now Available at Apothecarium Dispensaries in San Francisco , Berkeley and Capitola
The Apothecarium is offering cannabis from Houseplant, the cannabis lifestyle brand founded by Seth Rogen and Evan Goldberg at its five California dispensaries. The Apothecarium has three San Francisco locations (Castro, SOMA and Marina ) and one each in Berkeley and Capitola (outside of Santa Cruz ).
“With the vast number of dispensaries in California , we put a lot of effort into identifying the right ones that align with Houseplant’s values,” said Seth Rogen , Co-Founder of Houseplant. “The Apothecarium shares the same commitment to creating a strong consumer experience that we pride ourselves on and we are thrilled to bring our three initial strains to their stores in the Bay Area.”
Houseplant is launching with three flower strains, all of which will be available at The Apothecarium, including: Diablo Wind (sativa), Pancake Ice (sativa) and Pink Moon (indica). Like their founder’s groundbreaking film “Pineapple Express”, Houseplant strains are named after weather phenomena. Each strain will be sold in a custom tin.
“We are so proud to be one of the very first dispensaries in California to offer Houseplant to our customers,” said Ryan Hudson , CEO and co-founder of The Apothecarium. “Seth, Evan and everyone at Houseplant love and respect cannabis as much as we do. We simply cannot wait to share their beautiful and delicious flowers with our guests.”
“We’ve been working with the Houseplant team for more than a year and are grateful to have a partner that shares so many of our values, including an emphasis on cannabis education, quality, reform of cannabis laws and beautifully designed, recyclable packaging.”
“Seth has been hands-on during the process, spending time with our store managers to make sure they know the products and how much care has gone into vetting and selecting the best strains. We think our guests are going to love Houseplant.”
About The Apothecarium
The Apothecarium is recognized as one of the nation’s premier cannabis dispensaries, with an emphasis on education via in-depth one-on-one consultations from highly trained cannabis consultants. The company was founded by three first cousins and two family friends in 2011. Our dispensaries are known for providing educational events that are open to the public at no cost — and for welcoming seniors, first-time dispensary visitors, and people with serious medical conditions. The Apothecarium’s flagship San Francisco dispensary was named the best-designed dispensary in the country by Architectural Digest . Patients and customers may order at our dispensaries or online for pickup or delivery at apothecarium.com [apothecarium.com] .
The Apothecarium is committed to giving back to the communities we serve. We have donated more than $400,000 in cash to community groups and nonprofits — plus more than $300,000 worth of in-kind donations.
All Apothecarium dispensaries continue to implement safety measures to protect guests and team members. Protocols include strict social distancing inside and outside the dispensaries, a mask requirement for everyone inside the dispensaries, no contact check-in procedures and ongoing sanitizing throughout the day.
CA Licenses: C10-0000523-LIC; C10-0000522-LIC; C10-0000515-LIC, C10-0000738-LIC, C10-0000706-LIC
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MISSISSAUGA, Ontario TheNewswire – April 16, 2021 Sire Bioscience Inc. (CSE:SIRE) (OTC:BLLXF) (FSE:BR1B) (CNSX:SIRE.CN) (“SIRE” or the “Company”) announces that Brian Nugent has resigned as a member of the Company’s board of directors (the “ Board ”). It has been a pleasure and a blessing to have worked with Brian Nugent over the past few years, his business acumen and tremendous experience will certainly be missed, SIRE wishes him nothing but the best in all his future endeavors.
About Sire Bioscience
SIRE is headquartered in Mississauga, Ontario with its wholly owned subsidiary PLANTFUEL® based in Denver, Colorado. SIRE is managed by a group of successful entrepreneurs who have extensive experience in the areas of consumer-packaged goods, manufacturing, logistics, and distribution. SIRE is a CPG life science company focused on the plant-based foods and supplements industry.
For additional information contact:
Sire Bioscience Inc.
Copyright (c) 2021 TheNewswire – All rights reserved.
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