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Wayland Group Notified of Proposed Securities Class Action Proceedings

TORONTO, Sept. 11, 2019 (GLOBE NEWSWIRE) -- Wayland Group Corp. (CSE:WAYL) (“Wayland” or the “Company”) announced today that it has been made aware that a statement of claim in a proposed securities class proceeding was issued in Ontario against the Company, the former CEO of the Company and two investment banking firms engaged by the Company in connection with certain capital markets transactions in 2018. In commenting on a newspaper account by lawyers making a promotional announcement, Wayland observed that no claim of this nature has been served on the Company. If the proposed matter proceeds, the Company intends to defend the claim vigorously. 

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 “proposed”, “if” 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 commenced of proposed securities class action proceedings and the parties thereto and the Company’s intent to defend such claim vigorously.  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 class action proceedings will be validly served on the Company and that any proposed proceedings that result, including the Company’s defence of any such proceedings, will proceed in the manner anticipated. 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
IR@waylandgroup.com

Media Inquiries: media@waylandgroup.com

Corporate Headquarters (Canada)
Wayland Group Corp. (Toronto)
2381 Bristol Circle
Door D, Suite 102
Oakville, Ontario
Canada L6H 5S9
289-288-6274

European Headquarters (Germany)
MaricannGmbH
c/o Wayland
Moritzburger Weg 1
01561 EBersbach, Germany