Wayland Provides Update on German Tender Process
TORONTO, April 17, 2019 (GLOBE NEWSWIRE) -- Wayland Group (CSE:WAYL) (FRANKFURT: 75M) (OTCQB:MRRCF) (“Wayland” or the “Company”) would like to address recent reports in the media about the selection process in Germany for domestic medical cannabis cultivation.
Earlier today, the German Federal Institute for Drugs and Medical Devices (“BfArM”) announced that 9 of the 13 cultivation licenses that were previously announced have been officially awarded. Wayland, through its joint venture with DEMECAN GmbH (“DEMECAN”), was originally selected by BfArM to receive three licenses to produce medical cannabis in Germany. Per the announcement, four licenses remain under review as they have been challenged by a third party.
Wayland’s quality concept received 60 out of 60 points for quality and 40 out of 40 points for price. The Company believes that their concept is clearly superior to that of the parties challenging the award to DEMECAN and do not believe there is merit to their complaints. Wayland fully expects that the award of three lots to DEMECAN will be confirmed.
More information will be provided once it becomes available.
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. 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.
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