TORONTO, Sept. 24, 2018 (GLOBE NEWSWIRE) -- Maricann Group Inc. (CSE: MARI) (OTCQB: MRRCF) (FRANKFURT:75M) (“Maricann” or the "Company") today announced that it intends to change its name to Wayland Group Corp. In the interim, the Company expects to commence operating through its subsidiaries under the business name “Wayland Group”. In anticipation of the proposed name change, the Company has also announced that, effective September 25, 2018, its ticker symbol on the Canadian Securities Exchange will be “WAYL”.
The corporate renaming to Wayland Group supports the Company’s ongoing global expansion and development of both medical and non-medical consumer brands. The Company’s leadership team remains committed to foundational values of superior quality and world-class innovation at this milestone for the organization.
“Our roots in medical cannabis establish us as leaders on the world stage and the tremendous work our team has done building our production facilities, entering into provincial supply agreements and cultivating European partnerships has put us in this extraordinary position that we’re in today,” said Ben Ward, CEO of the Company. “The new name reflects the more expansive portfolio that we’ve built and the direction that we’re heading as a global cannabis company.”
The Company’s innovations include their purpose-built, high-tech production facilities in Langton, Ontario and licensing of product technologies such as VESIsorb®, a cannabidiol absorption technology. The Company’s recently launched recreational cannabis brand, Kiwi solidifies its customer needs-driven philosophy.
The proposed change in name to Wayland Group Corp. is subject to certain conditions, including approval of the Company’s shareholders, which the Company intends to seek at its next meeting of shareholders expected to be held later this year.
About Maricann Group Inc.
The Company is a vertically integrated producer and distributor of cannabis currently for medical purposes. The Company plans to produce and distribute recreational cannabis products in Canada once legalization occurs. Maricann was founded as Maricann in 2013 and is based in Burlington, Ontario, Canada and Munich, Germany. The Company has production facilities in Langton, Ontario where it operates a medicinal cannabis cultivation, extraction, formulation and distribution business under federal licence from the Government of Canada. Maricann also has production operations in Dresden, Saxony, Germany and Regensdorf, Switzerland and is undertaking an expansion of its cultivation and support facilities in Canada in a 942,000 sq. ft. (87,515 sq. m) facility and will continue to pursue new opportunities in Europe.
Forward Looking Statements
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 anticipated timeline for holding the Company’s next meeting of shareholders and other matters in connection with its proposed name change and the approval thereof and the use of the Wayland Group business name. Such statements may not prove to be accurate if the Company does not receive the require approvals for its proposed name change. 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, including receipt of shareholder approval for the proposed name change and the satisfaction of all other conditions to the name change and use of the Wayland Group business name, 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.
CONTACT INFORMATION
Investor Relations
Graham Farrell
VP, Communications
graham@maricann.com
647-643-7665
Corporate Headquarters (Canada)
Maricann Group Inc. (Toronto)
845 Harrington Court, Unit 3
Burlington Ontario L7N 3P3
Canada
289-288-6274
European Headquarters (Germany)
Maricann GmbH
Thierschstrasse 3, 80538 Munchen, Deutschland