TORONTO, Aug. 31, 2019 (GLOBE NEWSWIRE) -- Wayland Group Corp. (CSE:WAYL) (“Wayland” or the “Company”) confirmed today that it has been delayed in filing its interim financial statements for the quarter ended June 30, 2019, together with the related management’s discussion and analysis or the certificates of its CEO and CFO, with Canadian securities regulators.
Wayland and its auditors, NVS Chartered Accountants, continue to work diligently to complete the audit of Wayland’s 2018 annual financial statements as quickly as possible. Wayland intends to file the Company’s 2018 audited annual financial statements together with the Company’s first and second quarter interim financial statements and all associated materials concurrently, and to make an application to have the failure-to-file cease trade order issued on May 6, 2019 lifted at the relevant time.
About Wayland Group
Wayland is a vertically integrated cultivator and processor of cannabis. The Company was founded in 2013 and is based in Oakville, 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 in Argentina and Colombia, in its effort to enhance lives through cannabis.
Forward Looking Information
This news release includes forward-looking information and statements, which may generally be identified by the use of the words “will”, “continues” and “intends” and variations or similar expressions which 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 including, without limitation, the ability of Wayland and its auditors to complete the work and enquiries in connection with the Company’s 2018 audited annual financial statements and Q1 and Q2 2019 interim financial statements and all related filings by any particular time, or at all, the timeline for making an application for the lifting of the failure-to-file cease trade order and the anticipated outcome of that application.
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 Wayland and its auditor will complete the work and enquiries in connection with the Company’s 2018 audited annual financial statements and related filings, the Q1 and Q2 2019 financial statements and related filings and other associated materials in the manner and on the timelines anticipated or at all and that Wayland’s application to have the failure-to-file case trade order lifted is successful and is obtained on the timelines and terms anticipated by Wayland or at all. 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
Door D, Suite 102
Canada L6H 5S9
European Headquarters (Germany)
Moritzburger Weg 1
01561 Ebersbach, Germany