TORONTO, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Wayland Group (CSE:WAYL) (FRANKFURT: 75M) (OTCQB:MRRCF) (“Wayland” or the “Company“) is pleased to provide the following update regarding the Company’s hemp operations in Germany.
Wayland has completed its hemp harvest in Germany, harvesting 135 of the 165 hectares planted. The amount of dry hemp flowers recovered and suitable for processing into resin totaled 120,615 kg, outperforming internal forecasts by a factor of almost two. The increase in yields is attributable to proprietary and customized harvesting equipment and new drying systems, complete with automatic sorting equipment [link to video here]. A total of 3,000 kg of dried hemp flowers have been extracted to date, from which 450 kg of resin has been produced for further distillation. Analytical results demonstrate 1.01 – 1.56% of CBD within the extracted resin. Current wholesale market price for CBD distillate in Europe is 9,000 - 12,000 EUR per kg. The Company expects to maintain stock for its differentiated VESIsorb® product line available at www.mariplant.de.
Maricann Group Inc., through its subsidiaries, is operating under the Wayland Group name. For further details see the press release dated September 24, 2018.
About Wayland Group
Wayland is a vertically integrated producer and distributor of marijuana 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 license from the Government of Canada. The Company also has production operations in Dresden, Saxony, Germany and Regensdorf, Switzerland.
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. 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
Graham Farrell
VP, Communications
Graham.farrell@waylandgroup.com
647-643-7665
Media Inquiries: media@waylandgroup.com
Corporate Headquarters (Canada)
Wayland Group Corp. (Toronto)
845 Harrington Court, Unit 3
Burlington Ontario L7N 3P3
Canada
289-288-6274
European Headquarters (Germany)
Maricann GmbH
Thierschstrasse 3, 80538 Munchen, Deutschland