TORONTO, May 21, 2019 (GLOBE NEWSWIRE) -- Wayland Group Corp. (CSE:WAYL) (75M.F) (MRRCF) (“Wayland” or the “Company”) today announced that its joint venture DEMECAN GmbH (“DEMECAN”), of which it holds 50% with an option to increase to 60% has been awarded three lots of domestic cannabis production in Germany by the Federal Institute for Drugs and Medical Devices (“BfArM”), after the withdrawal of a competitor’s complaint following an oral court hearing.
DEMECAN is awarded three lots of thirteen total, which makes DEMECAN one of three companies globally to achieve a cannabis license for domestic production in Germany, out of 79 applicants.
DEMECAN will now begin production within Wayland’s Ebersbach facility, following completion of upgrades to quality and security systems.
Additionally, Wayland GmbH has received its narcotics license from the Bundesopiumstelle, the narcotics division of BfArM.
“We have worked hard to build our business to standards which exceed industry norms and are delighted to have been rewarded through this externally validated merit-based award to our joint venture partner DEMECAN in three lots of domestic cannabis production in Germany. In the most highly competitive process for a federal license in the world, to date, we have demonstrated that our team and our joint venture partners can be successful in the most competitive significant new markets. Additionally, receipt of our own narcotics license in Germany demonstrates further the high standards we live by as a company. We are proud to be 1 of 3 in Germany for domestic production, one of four globally for end to end EU-GMP certificated export from Canada and import to the EU, and 1 of 6 globally for EU-GMP certified cannabis production.” Stated Ben Ward – CEO.
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 licenses in Colombia and 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, 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. 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.
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
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Corporate Headquarters (Canada)
Wayland Group Corp. (Toronto)
2381 Bristol Circle, Suite 102
Oakville, Ontario, L6H 5S9
European Headquarters (Germany)
Max Joseph Str. 7