TORONTO, Feb. 07, 2019 (GLOBE NEWSWIRE) -- Wayland Group (CSE:WAYL) (75M.F) (MRRCF) (“Wayland” or the “Company”) is pleased to announce that it has received both Good Manufacturing Practices and Good Distribution Practices certifications from the national authority in the State of Saxony for the Company’s Ebersbach facility in Germany. Specifically, these certifications are for a 50,000 square foot area within Wayland’s much larger facility located just outside of Dresden, Germany. This marks Wayland’s second facility to receive the EU-GMP certification, the highest standard of pharmaceutical production in the world.
These certifications provide Wayland with the foundation to start selling product into the lucrative German and other developing European markets with drastically shorter lead times and greater margins. The Company will also be able to store bulk product in Germany for sale into the German market, which should serve to eliminate the lengthy process involved in receiving individual export licenses. Selling directly into Germany will allow the Company to capture higher margins for their products as the market remains materially undersupplied.
“We have successfully developed a second EU-GMP facility that will increase our presence and penetration of the market for medical cannabis in Germany and throughout the rest of Europe. This milestone makes Wayland the first Canadian licensed producer to have organically achieved an end-to-end EU-GMP distribution and production platform, furthering our competitive advantages at home and abroad,” stated Ben Ward, CEO of Wayland.
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 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, Colombia, 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. Such statements include statements regarding the Company's abilities to store and service the German Market, as well as the Company’s improved margins. 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 Company will be able to shorten its lead times and improve its margins with such certifications. 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)
845 Harrington Court, Unit 3
Burlington Ontario L7N 3P3
European Headquarters (Germany)
Max Joseph Str. 7