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.
Ben Ward, CEO of the Maricann Group
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.