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Wayland Group provides Clarification on ICC Transaction

TORONTO, May 24, 2019 (GLOBE NEWSWIRE) -- Wayland Group Corp. (CSE:WAYL) (75M.F) (MRRCF) (“Wayland” or the “Company”) announced that management of both parties continue to work towards the closing of the previously announced acquisition by ICC International Cannabis Corp. of a 49.9% interest in Wayland’s international assets (the “Transaction”), however, the Transaction has not yet closed.  

The Company understands that ICC International Cannabis Corp. will retract the erroneous announcement on this subject that was made early today.

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

Contact Information:
Investor Relations
IR@waylandgroup.com

Media Inquiries: media@waylandgroup.com

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

European Headquarters (Germany)
MaricannGmbH
c/o Wayland
Max Joseph Str. 7
80333 Munich