Cannin Group
Posted by Cannin Group on Nov 8, 2018 1:00:00 PM

Wayland Group Expands into South America through Colombian Acquisition

 

Wayland Group (OTCQB: MRRCF) announced on November 6th that the company has entered into the South American market through a successful transactional agreement in Colombia. The agreement with Colma Pharmaceutical SAS (Colma) is for 100% of Colma’s outstanding common shares in exchange for 11 million shares issued by Wayland at approximately $1.53 per share (CAD$2). The entirety of the Colma’s operation in Colombia includes cultivation areas within processing facilities, clone greenhouses, and vegetation greenhouses across 415,000 sq. ft. of space. The near half-million sq. ft. of indoor facility space supports the property’s 125 hectares of outdoor cannabis cultivation that occurs year-round.

Maricann Group Inc., while through its subsidiaries as Wayland Group, will establish a first phase extraction protocol at the Colombian facility that will be followed by a secondary extraction to further refine the cannabinoid isolates at Wayland’s Active Pharmaceutical Ingredient (API) facilities that are located in Germany. The company announced its intent to operate under the Wayland Group name on September 24th of this year. Ben Ward, Chief Executive Officer of Wayland Group, said, “Our roots in medical cannabis establish us as leaders on the world stage and the tremendous work our team has done building our production facilities, entering into provincial supply agreements and cultivating European partnerships has put us in this extraordinary position that we’re in today.” He went on to say that the company’s name change is to better represent the company’s wide portfolio of products and its direction towards a cannabis company with a global reach.

Tags: Expansion

Investor Access