Save the date: Canna East Summit March 12-13, 2019
Wayland Group, a global, vertically integrated cultivator and processor of cannabis, recently announced that its Board of Directors had 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 in an effort to unlock the value of the Company’s vast international asset portfolio, as well as its underlying domestic Canadian assets. Any Spinout Transaction of the International Assets could include the Company’s European, Latin American, and Asia-Pacific operations.
The Company strongly believes in its current strategy; however, it does not believe its current share price accurately reflects the global portfolio Wayland has, and continues to create.
“We have demonstrated our capability in predicting future markets and working systematically to put supply chain in place, with some of the lowest transaction costs for international acquisitions in addition to organic growth and partnerships. Our exponential growth model has tremendous potential, as it is built on the solid foundation we have laid from five years of organizational learning as a licensed producer in Canada. This has allowed us to become one of five companies with EU-GMP certification on top of having all the requisite cultivation and processing licenses in Canada. It is time for us to capitalize on the largest future cannabis market in the world and focus our efforts in the wellness and medical markets to accomplish our vision of enhancing life through cannabis,” stated Ben Ward, CEO of Wayland.
Canaccord Genuity Corp. had been retained to serve as the Company’s financial advisor related to the strategic review process.
There can be no assurance the strategic review will result in the completion of any transaction or any other alternative. The Company has not set a timetable for completion of the review process, and it does not intend to comment further unless a specific transaction or alternative is approved by the Board of Directors, the review process is concluded, or it is otherwise determined that other disclosure is appropriate.
Paul Pathak, Chairman of the Board commented, “Our Board is committed to maximizing value for our shareholders. Our management team has done a terrific job of building a state of the art cultivation facility in Langton and securing significant distribution agreements with several of the Provinces, while at the same time assembling an impressive portfolio of international assets. Our end goal, however, is to translate that into value for our shareholders and we are confident that the results of our strategic review and potential spin-out of our international assets will be important steps to accomplish that.”
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