Wayland Group Corporation Stock (OTC: MRRCF) (CSE: WAYL) - Investor Dashboard
|Employees:||68 as of 12/31/17|
|Dried Flower:||Production and Sale|
|Extracts:||Production and Sale|
|Number of Patients:||>3000|
|Cash on hand:||$8.3 million|
|Fixed Investment:||$57.6 million|
|Shareholders’ Equity:||$98.5 million|
|Revenues – Last Quarter:||$1.16 million|
|Adj. Gross Margin :||-53.1%|
Capital Structure (08/24/18)
|Last Financing:||23.38mm Units at $1.60|
|Basic Shares:||162.5 million|
|Diluted Shares:||228.0 million|
Wayland Group Corporation, formerly Maricann, was founded in 2013 and is based in a well-established agricultural region in southwestern Ontario, Canada. In March of 2014 Wayland earned a Health Canada license to cultivate plants and in December earned a license from Health Canada to sell dried flower.
The company sold $1.97mm dried cannabis in 2015. In 2016, the company purchased 97.5 contiguous acres while earning a license to sell cannabis extracts. Wayland is partnered with Evolab, its Colorado-based extraction technology partner, to access its leading technology and processes.
Wayland grows all-natural plants in its energy-efficient greenhouse, while maintaining secure and consistent supply, as it has focused on eight profitable and proven strains and is aiming for production costs of $1.34 per gram.
Wayland is currently expanding domestic and international capacity and distribution channels. In Germany, the company has commenced a retrofit of a 500,000 square-foot cultivation facility and is preparing to cultivate all-natural plants in a portion of the facility in Dresden. The company raised $40mm by way of private placement in 2018.
Expanding in Mature Markets
Wayland’s GMP-compliant clean-room cultivation facility in Dresden, Germany leaves it very well positioned for growth in a large market.
German Parliamentarians voted unanimously in January 2017 in favor of the new “Cannabis as Medicine” law, which will create a large market with insurance coverage and pharmacy distribution and will allow the company to expand throughout the European Union.
- Licensed by Health Canada since 2014
- Focus on both medical and lifestyle cannabis
- Management team experienced in cultivation, pharmaceuticals, distribution, and healthcare
- Selling dried flower, oils, resin and clones
- Raised $40mm in 2018
- Forecasting strong production and sales growth following facilities expansion
- Brand portfolio including Kiwi, Rare Darkness, High Tide, Northern Harvest, Lost at Seed, and Solara C
- Expanding Langton, Ontario greenhouse in three phases
- 820,000 square feet of cleanroom cultivation available once the Ebersbach facility in Germany is completed
- Virtual pharmacies in physical locations and seminars and education offered by Synergy Health Clinics
- Acquired biotech company NanoLeaf Technologies and Swiss company Haxxon AG
- Memorandum of understanding with British Columbia to supply 3,621,900 grams of non-medicinal cannabis
- 550,000-gram supply agreement with Manitoba
- Allocating approximately 3,375 kilograms of product for the Alberta market
- 9,000-kg supply agreement with Cannamedical for export to Germany
- Focus on energy efficiency using glass greenhouse
- Intending to apply for a German cultivation license
- Focus on eight proven and profitable strains
- Canada-wide pharmacy partnership
- Joint venture with Evolab, a leading Colorado extraction technology partner
- Exclusive provider of medical cannabis to Lovell Drugs
- Supply agreements with Alberta Gaming, Liquor and Cannabis Commission and the Ontario Cannabis Store
- License to manufacture medical cannabis in Malta
Ben Ward, CEO at medical marijuana company Wayland Group, discusses the opportunity for growth in Germany, now that the country has legalized the drug for health reasons. We talk about Attorney General Jeff Sessions’ stance on the drug and why investment opportunities may be slowing under the Trump Administration. Now that Germany has expanded into medicinal cannabis, Ward estimates that the rest of Europe will soon follow.
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