Wayland is a vertically integrated producer and distributor of cannabis for medical purposes.  

Maricann Group Inc

Maricann Group, Inc. is a medical cannabis company, which engages in the distribution of marijuana for medical purposes. It offers a variety of oil and flower products. It operates a medical cannabis cultivation, extraction, and formulation business under federal license from the Government of Canada. The company was founded on December 19, 1996 and is headquartered in Burlington, Canada.

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  • Wayland Group to Explore Strategic Alternatives to Maximize Shareholder Value Including the Spinout and/or European Listing of its International Assets December 19, 2018
    Wayland Group (CSE:WAYL) (75M.F) (MRRCF) (“Wayland” or the “Company”), a global, vertically integrated cultivator and processor of cannabis, today announced that its Board of Directors has initiated a process to explore a broad range of strategic alternatives, including, but not limited to assessing the potential spin-out and/or European listing of its international assets (the “International […]
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    How Did Cannabis Stocks Perform Last Week? In this series, we’ll be looking at the stock performance of cannabis companies during week 50, which spans from December 10 to December 14. First, we’ll look at major events that took place during the week before moving to the companies’ stock performance in week 50.
  • RavenQuest Announces Significant Supply Agreement With Wayland Group December 18, 2018
    RavenQuest BioMed Inc. (the “Company” or “RavenQuest”) – (CSE: RQB  OTCQB: RVVQF  Frankfurt: 1IT) and Wayland Group (WAYL.CN) (75M.F) (MRRCF) (“Wayland”) are pleased to announce that they have entered into a supply agreement whereby Wayland will purchase up to 8,000 kg of dried flower cannabis from RavenQuest in 2019.  The total quantity will be shipped […]
  • Wayland Announces Significant Supply Agreement with RavenQuest BioMed December 18, 2018
    Wayland Group (CSE:WAYL) (75M.F) (MRRCF) (“Wayland” or the “Company”) and RavenQuest BioMed Inc. (“RavenQuest”) are pleased to announce the companies have entered into a supply agreement whereby Wayland will purchase up to 8,000 kg of dried flower cannabis from RavenQuest in 2019. As part of the supply agreement, Wayland will make an immediate one-time payment […]
  • REPEAT - Wayland Group Announces Strategic Acquisition in Argentina December 11, 2018
    Wayland Group (CSE:WAYL) (75M.F) (MRRCF) (“Wayland” or the “Company”) is pleased to announce it has entered into an agreement to purchase 819 hectares of existing developed agriculture land in San Juan Province in Argentina. San Juan Province is ideal for cannabis cultivation due to the province’s climate and altitude. The presence of a stable economy […]
  • Wayland Group Announces Strategic Acquisition in Argentina December 11, 2018
    Wayland Group (CSE:WAYL) (75M.F) (MRRCF) (“Wayland” or the “Company”) is pleased to announce it has entered into an agreement to purchase 819 hectares of existing developed agriculture land in San Juan Province in Argentina. San Juan Province is ideal for cannabis cultivation due to the province’s climate and altitude. The presence of a stable economy […]
  • iAnthus Capital Holdings’ Valuation as of November 30 December 3, 2018
    iAnthus Capital Holdings (ITHUF) is a leading company in the cannabis industry (SEED). This article compares iAnthus Capital’s valuation to those of its peers, including MPX Bioceutical (MPXEF), MariCann (MRRCF), and MedMen (MMNFF).
  • Wayland Enters the Asia-Pacific Market with Australian Acquisition December 3, 2018
    Wayland Group (CSE:WAYL) (75M.F) (MRRCF) (“Wayland” or the “Company”) is pleased to announce its expansion into Australia, through entering into an agreement to acquire 50.1% of Tropicann Pty Ltd. (“Tropicann”), a newly formed, privately owned Australian company located in Darwin, Northern Territory, to partner with industry leaders in Australia’s expanding cannabis industry. With this acquisition […]
  • Wayland Reports Q3 2018 Results November 28, 2018
    Wayland Group (CSE:WAYL) (75M.F) (MRRCF) (“Wayland” or the “Company”) has reported its financial and operating results for the third quarter ended September 30, 2018 and has filed the full report on SEDAR. "Consistent with previous guidance, we reserved product for European export and the recreational market in Canada, which legalized cannabis for adult use on […]
  • Curaleaf Holdings’ Valuation following Its Q3 Results November 28, 2018
    In this article, we’ll discuss Curaleaf Holdings’ (LDVTF) valuation as of November 27 and its comparison with its peers, including WeedMD (WDDMF), Trulieve (TCNNF), and Maricann (MRRCF).

Wayland is cultivating a portfolio of brands, capitalizing on global growth markets, and investing in technology.

Highlights for the quarter include:

  • Received Health Canada approval for cultivation in our state-of the-art, purpose built cannabis grow facility based in Langton, Ontario.
  • The Company received GMP certification for our Canadian operations, making Maricann 1 of only 5 companies in the world to be accredited with this recognition.
  • During the quarter we completed our acquisition of Haxxon AG, which provided access to the Swiss market and saw an increase in our European footprint.
  • Q2 saw the first seeds planted for our outdoor hemp operations. This crop will provide raw materials for our European nutraceutical business, MariPlant.
  • Entered into a Letter of Intent to acquire a license in Malta as requested by Malta Enterprise, the government entity responsible for issuing such licenses.
  • Expanded our management team with the hiring of Morten Brandt as our European General Manager. Pharmaceutical executive formerly with Norgine, Mr. Brandt has a wide range of experience within the Life Sciences sector and will be based in Germany.
  • Entered into a supply agreement with the Manitoba Liquor and Lotteries Committee, to provide quality products to Manitobans.
  • Subsequent to June 30, 2018, the Company acquired all of the outstanding shares of Proimaging AG (“Proimaging”), a corporation incorporated in Switzerland. Proimaging’s sole asset is a proposed clean-room cultivation, processing and extraction plant located in Ebersbach, Germany. The total purchase price paid was €3,000,000, which includes the assumption of all of the liabilities of Proimaging amounting to €1,016,463. As at June 30, 2018, the Company had paid a reservation fee and rent of €160,000 ($233,582) which were deducted from the total purchase price per the terms of the share purchase agreement. The remaining purchase price of €2,840,000 ($4,380,384) was paid subsequent to June 30, 2018.

At June 30, 2018, Maricann recognized revenue of $1,157,887 and $1,758,478 for the three and six months ended June 30, 2018, respectively, as compared to $661,602 and $1,804,769 during the same periods in 2017 an increase of $496,285 or 75% for the three months ended June 30, 2018 and a decrease of $46,291 or 3% for the six months ended June 30, 2018. The increase in revenue during the three months ended June 30, 2018 compared to June 30, 2017 is primarily related to two large bulk supply orders completed during Q2 2018.

For the six-months ended June 30, 2018, cash flow used in operating activities was $19,565,941 and the Company had used cash of $35,195,964 related to investing activities. Investing activities during the period relate to the Company’s new building in Langton and other facility upgrades and the purchase of production equipment, computers and furniture as well as advancements towards investments of the German subsidiary. Cash flows provided by financing activities for the six months ended June 30, 2018 were $38,581,031. The cash provided by financing activities is primarily due to an issuance of special warrants in January 2018 which resulted in proceeds, net of issuance costs, of $37,794,030, proceeds received on exercise of stock options and warrants of $1,850,529 and offset by interest payments of $988,131 on the Company’s convertible debentures and repayment of capital leases of $75,398. Subsequent to June 30, 2018, the Company closed a private placement offering of special warrants for aggregate gross proceeds of $37,401,760. See press release dated August 10, 2018.

The Company’s complete set of financial statements for the period ended June 30, 2018 and the corresponding management’s discussions and analysis have been filed on the SEDAR website at www.sedar.com.

About Maricann Group Inc.

Maricann is a vertically integrated producer and distributor of cannabis for medical purposes. 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 medicinal cannabis cultivation, extraction, formulation and distribution business under federal licence from the Government of Canada. The Company also has production operations in Dresden, Saxony, Germany and Regensdorf, Switzerland. Maricann is currently undertaking an expansion of its cultivation and support facilities in Canada in a 942,000 sq. ft. (87,515 sq. m) and will continue to pursue new opportunities in Europe.

Original press release

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