Wayland Group Corporation (CE) (MRRCF) News

Dip is back.

Dip over !! Back up to .04

Added this dip

Www.maricann.com Medical Marijuana

Brands include:
1. HighTide
2. NothernHarvest
3. Kiwi

Does Wayland group own canadelaar ?

CanAdelaar is a leading European producer of cannabis, with state-of-the-art production facilities.

CanAdelaar goes beyond industry standards, in order to ensure best quality products. Cultivating high-grade cannabis requires a precise approach. Everything from the quality of the soil to the level of humidity is fine-tuned, in order to meet the facilities’ strict requirements. Industrial cultivation means applying this precise approach on a grand scale.

Total Cultivation Area: c. 1,740,000 sq. ft.

Found this in yahoo finance

the new owner from wayland ( maricann) Ring International Holding AG

Some news from the Langton facility:
Langton, Canada
CANADELAAR 138

Currently operating on approx. 25,000 sq. ft. of greenhouse cultivation area, come 2021 Maricann will breathe new life into its purpose built sealed-greenhouse facility, initially adding an additional 35,000 sq. ft. of cultivation space. Blending cutting edge technology with a hands-on personalized plant growth approach, such expansion is to see Maricann’s cultivation capacity triple in 2021. Irrespective of this technological step-up, every product’s treatment and environment will continue to be fine-tuned by Maricann’s enthusiast growers at every stage of the cycle.

https://canadelaar.com/production/

Could this be a short squeeze story?

The cats out of the bag !! New Company, Big Money

Who the hell just bought!?

A bit of a painful news..of sort. Anyone that had shares of Maricann/Wayland Group..After tracing down IR from Ring Int.Holdings & Canadelaar..and speaking with a court monitor from PWC, he told me that basically the common shares are worthless..
Long process they went through and stuck it to shareholders and some other creditors...a shell company was created, in it went all the liabilities...and so they were able to sell the greenhouse and certain assets to Ring Int, which runs the facility now...
Cheers

I dont know if theres anything left as far as assets of Wayland since they have now sold Maricann Inc.

You mean to tell me the flagship EU-GMP facility in Langton sold along with licences to Ring for only $12.4M ?

Following the CCAA proceedings... and guess Ill learn a little bit about Canadian bankruptcy.

Wayland is Maricann... changes their name about a year ago.

Ring deal was for subsidiary of Wayland,.... Maricann Inc. Not for Wayland Group stock...MRRCF

Not sure what assets or liabilites were included or excluded.

MRRCF .0069 - deal closed:

https://www.pwc.com/ca/en/services/insolvency-assignments/wayland-group-ltd---nanoleaf-technologies-inc--and-maricann-inc.html

SPA scheduled to close by 11:59pm Wednesday, April 22, 2020.

RP Capital is dissolved; another win for Dan Byrnes your buddy and mentor.

Nice work, morons.

Status of File as of April 1, 2020

On March 31, 2020, the Court issued an order (the “Stay Extension Order”) extending the Stay Period until and including April 17, 2020.

https://www.pwc.com/ca/wayland

Update

On March 27, 2020, the Receiver filed its Fifth Report (the “Fifth Report”) with the Court to provide the Court with information concerning:

The activities of the Companies and the Monitor since the Fourth Report;
An update in respect of the SISP;
Companies’ actual cash flows for the 14-week period from the week ending December 20, 2019 through to the week ending March 20, 2020, as compared to the Full Case Projection; and
The Monitor’s views on the Companies' request for approval of an extension of the stay of proceedings to and including April 17, 2020.

On March 26, 2020, the Applicants filed a motion to extend the Stay Period until and including April 17, 2020.

The motion will be heard on March 31, 2020.

Bids due tomorrow...

It is anticipated that the deadline for initial qualified non-binding letters of interest will be February 21, 2020. Potential interested parties wishing to participate in the SISP should contact the Monitor for additional information using the contact information provided below.

Status of File as of February 12, 2020
On February 12, 2020, the Court issued the Approval and Vesting Order, which, among other things

Approved the Colmed SPA, the Termination Agreement and the Conveyance Agreement;
Approved the Colmed Transaction;
Approved the ICC transaction (the “ICC Transaction”) as contemplated in the Termination Agreement;
Authorized the postponement of Wayland’s annual meeting of shareholders until further order of the Court;
Approved the First Report, the Second Report, and the Third Report of the Monitor and the activities of the Monitor referred to therein; and
Approved the fees of the Monitor and its legal counsel as described in the Fourth Report.

Status of File as of February 10, 2020
On February 10, 2020, the Monitor filed its Fourth Report (the “Fourth Report”) with the Court to provide the Court with information concerning:

The activities of the Companies and the Monitor since the Third Report;
The Monitor's views on Wayland’s request for approval of the sale of the Wayland's shares of Colmed to the Colmed Buyers (the “Colmed Transaction”);
The Monitor's views on the Termination Agreement and the Conveyance Agreement;
Amendments made to the Amended DIP Commitment Letter (the “First Amendment to the Amended DIP Commitment Letter”);
An update in respect of the SISP;
Wayland’s actual cash flows for the seven-week period from the week ending December 20, 2019 through to the week ending January 31, 2020, as compared to the Full Case Projection; and
Approval of the Monitor's previous reports and the Monitor's and its legal counsel's professional fees and disbursements up to and including January 26, 2020.
The motion will be heard on February 12, 2020.

Thanks for alerting about the update.

I think there was another update on FEB 10 after you posted.

https://www.pwc.com/ca/en/services/insolvency-assignments/wayland-group-ltd---nanoleaf-technologies-inc--and-maricann-inc.html

Im no expert,,,but it sounds at least like this "restructuring" is going ok so far? Dont know if there will be any light at the end of the tunnel though?

Status of File as of February 7, 2020
On February 6, 2020, the Applicants filed a motion (the “Sale Approval Motion”) with the Court for an order (the “Approval and Vesting Order”) to, among other things:

Approve the share purchase agreement (the “Colmed SPA”) entered into on February 2, 2020 by Wayland, as seller, and RG5 Investments Inc. and Albert Sheeler, as buyer (collectively, the “Colmed Buyers”), with respect to the sale of the shares of Wayland’s Colombian subsidiary, Colmed Pharmaceuticals S.A.S. (“Colmed”);
Approve the transactions contemplated by the termination agreement made as of October 11, 2019 (the “Termination Agreement”) among Wayland, Maricann, Maricann B.V. and ICC International Cannabis Corp. (“ICC”) as well as the related Conveyance Agreement (as defined in the Sale Approval Motion);
Postpone Wayland’s annual meeting of shareholders until further order of the Court; and
Approve the fees and activities of the Monitor as described in the Fourth Report of the Monitor, to be filed.
The motion will be heard on February 12, 2020.

https://www.pwc.com/ca/en/services/insolvency-assignments/wayland-group-ltd---nanoleaf-technologies-inc--and-maricann-inc.html

Anyone else seeing .567 this morning in account?

Wayland Announces Court Approval of Sale Process
TORONTO, Jan. 13, 2020 (GLOBE NEWSWIRE) -- Wayland Group Corp. (CSE:WAYL) (“Wayland” or the “Company”) today announced that the Company, Maricann Inc. and NanoLeaf Technologies Inc. (collectively, the “Wayland Group”) have received an order (the “Order”) from the Ontario Superior Court of Justice (Commercial List) (the “Court”) that approves the Wayland Group’s proposed sale and investment solicitation process in respect of their business and assets (“SISP”) in connection with the Wayland Group’s ongoing Companies’ Creditors Arrangement Act (“CCAA”) proceedings.

Under the SISP, the Wayland Group, together with PricewaterhouseCoopers Inc., in its capacity as court-appointed monitor of the Wayland Group (the “Monitor”), will solicit proposals from potential interested parties for the acquisition of, or investment in, the Wayland Group or their respective businesses and assets, all in accordance with the process and timelines provided for in the Order. It is anticipated that the deadline for initial qualified non-binding letters of interest will be February 21, 2020. Potential interested parties wishing to participate in the SISP should contact the Monitor for additional information using the contact information provided below.

The Order also approved the Wayland Group’s key employee retention plan (“KERP”), which permits the Wayland Group to make retention payments to a maximum of up to five members of the Wayland Group’s management team with a view to retaining employees deemed essential to ensuring the stability of the business, to enhancing the effectiveness of the SISP, and/or to facilitating an efficient restructuring. The maximum aggregate amount that may be paid pursuant to the KERP is $500,000.00.

In addition, the Order extended the stay of proceedings against the Wayland Group until March 31, 2020. The stay extension will allow the Wayland Group to continue operating as a going concern as they conduct the SISP and pursue various restructuring options.

Wayland further announced that David Miller has been appointed as Chief Financial Officer of the Company. Mr. Miller’s appointment as CFO was effective as of January 6, 2020. Mr. Miller will be replacing Scott Langille who resigned as CFO of the Company effective as of December 31, 2019. Mr. Langille remains actively involved in other roles within the Wayland Group.

About Wayland Group Corp.

Wayland is a vertically integrated cultivator and processor of cannabis. Wayland 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. Wayland also has production operations in Dresden, Saxony, Germany, Regensdorf, Switzerland, and Allesandria, Piedmont, Italy.

Forward Looking Information

This news release includes forward-looking information and statements, which may generally be identified by the use of the words “will” and “anticipates” and variations or similar expressions which 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 including, without limitation, the SISP; the Company’s ability to solicit interested parties in connection with the SISP; the anticipated deadline for initial qualified non-binding letters of interest; the Company’s plans with respect to the identification and consideration of potential restructuring transactions under the SISP; the effect of the KERP and the Company’s ability to retain employees; and the effect of the CCAA protection and the stay of proceedings.

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 Wayland to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Such assumptions, risks, uncertainties and other factors include, but are not limited to, that Wayland will be able to solicit interested parties in connection with the SISP, that the terms of any potential letters of interest and/or binding offers received by Wayland pursuant to the SISP will be on timelines and terms satisfactory to Wayland and the Court or at all, that Wayland will be able to identify and consummate a reorganization transaction under the SISP on the timelines and terms anticipated by Wayland or at all; that the stay of proceedings will have the effect contemplated by Wayland in enabling it to continue operations as a going concern while it conducts the SISP and pursues various restructuring options; that the KERP will have the effect anticipated by Wayland and that Wayland will be able to retain key management employees deemed essential to the Company and/or the SISP; that changes in the CCAA proceedings, the SISP, the KERP, the restructuring process and Wayland’s ability to meet its obligations proceed on the basis anticipated by Wayland or at all. Although Wayland 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. In particular, Wayland can offer no assurance that it will be able to identify any interested parties in connection with the SISP and/or that it will receive any letters of interest and/or binding offers under the SISP, and/or that Wayland will be able to consummate any potential reorganization transaction under the SISP on terms satisfactory to Wayland and the Court or at all. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, Wayland 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, changes in the SISP, the KERP and/or the CCAA proceedings 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 regarding the Company’s CCAA Proceedings

Additional information about the SISP, as well as a copy of the Order and additional information regarding the Wayland Group’s CCAA proceedings, is available on the Monitor’s website at www.pwc.com/ca/wayland

Additional enquiries for the Monitor may be directed to:

PricewaterhouseCoopers Inc.

In its capacity as Court-appointed Monitor of Wayland Group Corp., Maricann Inc., and NanoLeaf Technologies Inc.

Telephone: 416-687-8534
Email: cmt_processing@ca.pwc.com
Contact: Tammy Muradova, PwC
For additional information concerning the SISP

Telephone: 416-815-5138
Contact: Wilson Kwan, PwC

Extended the Stay period to MAR 31 2020
https://www.pwc.com/ca/en/services/insolvency-assignments/wayland-group-ltd---nanoleaf-technologies-inc--and-maricann-inc.html

Key employee offered retainment money.
Company up for sale.

MRRCF .0124 - moving easy now. Should have sale approval today...

Wayland Court motion hearing JAN 13 for extending the Stay to MAR 31 2020.

Also latest update JAN 9
https://www.pwc.com/ca/en/services/insolvency-assignments/wayland-group-ltd---nanoleaf-technologies-inc--and-maricann-inc.html

You and some others, along with a well written article about this stock and it's problems, warned us ALL about this stock. I did take that in consideration when placing my bet, so I thank you, and others for the heads up. Because of that, I walked away with some money to put into other high risk gambles!!!

OH Well, Wins some lose some, BUT ALWAYS LEARN the lesson that was meant to be taught.

LOL and my $$$$$ too!!! Up in smoke!!!

You must not read MY post, THERE IS VALUE. First position note holders and second position holders will be great AFTER the reorganization. Regular shareholders will probably get ZERO!!!

Are you convinced now that this stock was a SCAM, and a POS... No substance left

This article didn't age well
https://stockhouse.com/news/newswire/2018/03/06/embattled-cannabis-heavyweight-maricann-stands-firm

Gee Ben, where did that $70 mil go?

FAQ's

https://www.pwc.com/ca/en/car/wayland/assets/wayland-009_120319.pdf

Thank you.

Extended the Stay Period until and including December 16, 2019

https://www.pwc.com/ca/en/services/insolvency-assignments/wayland-group-ltd---nanoleaf-technologies-inc--and-maricann-inc.html

i wondered that as well.

all-bid post on the jshg board might be relevant here, since Ben Ward and others were part of that scam, allegedly.



from all bid,

"Joshua Gold (JSHG) is a scam. You would have to be an idiot to invest in this company. This is a scam to sell shares to the public and nothing else.

The list of share holders and insiders includes individuals and their families who have done this type of scam several times in the past all with total losses to the public shareholders and these same individuals have made millions of dollars in these scams.

Here is a list of shareholders

https://sec.report/Document/0001010412-18-000031/

Some key names here are Ben Ward and related companies. Mr. Ward was an executive of JSHG previously when a similar scam was run. Mr. Ward has also been an Executive of Sarissa Resources (SRSR) which had a similar scam where insiders sold millions of shares and pocketed millions of dollars. Mr. Ward has also been executive of Canadian Cannabis (CCAN) and Wayland Group (MRRCF) both of these firms are being investigated by the Ontario Securities Commision.

https://equity.guru/2019/09/13/ben-ward-wayland-group-fame-among-trio-named-osc-first-canadian-cannabis-fraud-case/

https://www.bnnbloomberg.ca/canadian-pot-firm-depleted-in-fraud-scheme-regulator-alleges-1.1316116

Also Associated with these scams are other key names on that JSHG shareholder list.

Scott Keevil and Sabine Frisch. This husband and wife duo were also involved in SRSR where Mr. Keevil was terminated for fraud. Mr. Keevil somehow then became executive of (CCAN)

(the wife and family members are used in these scams o obtain shares due their executive husbands and sell into the markets to avoid reporting requirements.

https://www.prnewswire.com/news-releases/sarissa-resources-inc-announces-termination-of-scott-keevil-594565581.html

Mr. Ben Fuschino – Was the CEO of Sarissa and its primary shareholder beginning in 2008. He than sold more than 30% of the outstanding shares without any disclosure of any kind. Mr. Fuschino was also involved in CCAN.

And here is the most important scammer on the JSHG shareholder list who is presently selling their shares. Currah Family. Penny, Andrew (they also use their now grown children) and Penny’s extended family the Ismindys.

First Andrew Currah and Penny Currah are convicted stock scammers.

https://www.insidehalton.com/news-story/2914540-osc-orders-10-year-trading-ban-on-former-public-school-trustee/

https://www.osc.gov.on.ca/en/Proceedings_set_20051028_dammj.htm

The Currah family was also along with Mr. Fuschino the majority shareholder of SRSR. The Currah family sold hundreds of millions of dollars in shares in the name of their children’s trust as well and millions and millions more in the name of Penny. Mr. Currah was heavily involved in SRSR and benefited greatly from many insider friendly dealings. This of course was all despite him being under a Ontarion Securities Commision 10 year ban!!

Andrew Currah is also operates as the Investors Hub (stock message board) “ alias” Suvorov” and is promoting JSHG stock on the message board.

There are many additional companies where the Currah family has been involved and every single one of them was a total failure to public shareholders.

Also note in the settlement of the OSC case there is another name. Warren Hawkins. Mr. Hawkins was involved and the Findore Minerals scam with Me. Currah and recently authored the Ni-$3 101 technical Report on JSHG. Coincidently Mr. Hawkins was also the qualified person (geologist) to SRSR and its Shining Tree subsidiary.

Now Mr. Currah and Mr. Keevil and Mr. Ward were also involved in a gold company Shining Tree Resources which was a subsidiary of SRSR. In this company they were playing the same gold scam as they are in JSHG. In addition these individuals were involved in a private placement in shining tree where they raised over $US100,000 from individuals in the US and Canada and never provided them any shares of Shining Tree which is no worthless.

Want to know who authored the geological reports for Shining Tree? None other than Fred Sharpley who coincidently is the person involved in JSHG?

There are significant allegations of wrong doing in Sarissa Resources that can be found in an ongoing lawsuit in Ontario Superior Court. The defendants include Fuchino, Keevil’s, Currah’s and many other names which also on are on the JSHG list of shareholders that are selling shares to the public right now!!!

So if you think this is all a coincidence and that JSHG is going to actually become a mining company I have a bridge to sell you. Please contact me ASAP!!!"

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=152713110

What's on the 16th? Can you post a link? Thank you!

Unfortunately a holder of shares of Wayland.

Waiting to see what news comes out DEC 16

yep. not surprised in the slightest. from one failure to another, then trying to resurrect this one in hopes that enough time has past that people wont notice what they are up to?

relevance to wayland board = jshg being where mr. ward cut his chops before taking over at wayland.

Yep I actually posted that a few days ago!!!

Hey Web,
Did you see that the "gang" tried to do a pump over there at Joshua Gold JSHG, failed Currah is over there trying to cheerlead as he and his family own quite a bit of shares.

Heading for sub-penny soon

In reality, not a total scam, (not saying Ben Ward and other are not CROOKS) just a scam on regular shareholders. Even the tricky wording on the release about the restructuring. They are careful not to say CHAPTER 11 BANKRUPTCY. Senior debt holders and juniors can make out nicely after the restructure, it all depends on the valuation the lawyers come up with for the company. Like I said when I first came here there is value in their assets, that is why no liquidation. The 50% stake in the Germany company could be worth a LOT if the company meets their goals. The cryto company is willing to loan them up to 25 million on their Canadian Assets says value also. BUT as a common shareholder the stock usually goes tozero and they issue the junior and senior HOLDERS the NEW shares. !!!

yep, Best lessons are bought!!! LOL Lucky enough to get some back to spin the wheel some place else!!!

I've been telling you this was a scam. Been Ward did this exact thing with Canadian cannabis, it was a mirror to this.

Wayland Seeks Creditor Protection to Pursue Restructuring Plan

The Wayland Group is in advanced discussions regarding potential arrangements for debtor-in-possession financing and it intends to continue its work with the monitor and its advisors in connection with these potential arrangements and in connection with its consideration of potential restructuring transactions.

A fancy name to keep all of us "unsophisticated" penny stock investors in the dark. I learned the equity holders during this time usually WILL NOT get ANY of the new stock!!!
Shameful that the market makers and the companies themselves stoop to this to trick people trying to "play". We seem to have better odds in Vegas than the O T C !!!

FILED BANKRUPT

Going SUB