Wayland Group Sells Half its International Business for $126 Million

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While most cannabis companies are competing amongst each other for premium mergers and acquisition opportunities, some are appearing to pursue an opposite strategy. Wayland Group (CSE: WAYL) announced today that the company is planning to sell 49.9 percent of their international portfolio of assets to International Cannabis Corp. In exchange, Wayland would receive 300 million shares of ICC (CSE: WRLD.U) at a price of USD $0.43 per share.



The agreement would see company shareholders with an influx of capital in a valuation well above the total market capitalization of the company on the CSE. The agreement will stipulate that Wayland would supply ICC with 10,000kg of EU-GMP certified cannabis a year. At the same time, ICC will receive access to Wayland’s European advisory board that will assist with production, distribution, branding, and other efforts. At the same time, ICC shares will not be distributed to Wayland shareholders for at least six months.

The proposed transaction would provide Wayland and our shareholders with exposure to an unparalleled portfolio of international assets to address the ever-expanding global legalization of medical cannabis with operations in countries with a total population of just over 390 million people and access to international markets that exceed a billion people,” said Wayland CEO Ben Ward. “This transaction ascribes value to our international assets that is in line with our expectations as the value of our international assets is now greater than the entire company’s present market capitalization. The transaction also provides an opportunity at the appropriate time to fully integrate our international operations with ICC’s to cover all aspects of the value chain, including medical plan production extraction, active pharmaceutical ingredient isolation, finished dose manufacturing, and distribution.”

Other significant assets acquired by ICC will include an 820,000 square foot facility with a 50,000 square foot packaging/distribution center (otherwise appraised at 110 million Euros). ICC will also acquire a German cannabis import license, a 60,000 square foot swiss cannabis operation, candidacy for one of seven medical marijuana licenses to be issued by the Italian government, as well as a slew of other existing or potential licenses in the upcoming future.

“This is a watershed acquisition for International Cannabis; adding cannabis operations in a variety of high profile jurisdictions, all while increasing exposure to high growth marketplaces including Germany and the Asia Pacific theatre,added ICC CEO Eugene Beukman. “This acquisition will solidify ICC as a global Cannabis leader, with exposure to a broader range of countries than any competitor to date. ICC will have the most robust portfolio of international cannabis assets to date and is well on its way to accomplishing its mandate to be the largest vertically integrated Cannabis Company in the world.

According to this valuation, the total price for Wayland’s international holdings would be around USD $258 million. Additionally, the current offer would value the international assets at an 11.3 percent premium to the current market cap of the company’s global businesses.




Wayland Group Company Profile

Wayland is a vertically integrated cultivator and processor of cannabis. 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 cannabis cultivation, extraction, formulation, and distribution business under federal licenses from the Government of Canada. The Company also has production operations in Dresden, Saxony, Germany, Regensdorf, Switzerland, Allesandria, Piedmont, Italy and Ibague, Colombia. Wayland will continue to pursue new opportunities globally, including the consummation of its previously announced transactions in the United Kingdom, Australia and Argentina, in its effort to enhance lives through cannabis. – Wayland Group

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