Wayland Group Receives EU-GMP Certification for German Facility
February 07 2019 - 7:30AM
InvestorsHub NewsWire
Wayland
Group Receives EU-GMP Certification for German
Facility
TORONTO, ON -- February 7, 2019 --
InvestorsHub NewsWire -- Wayland Group (CSE:WAYL) (FRANKFURT: 75M) (OTCQB:MRRCF) (“Wayland” or the
“Company”) is pleased to announce that it has received both Good
Manufacturing Practices and Good Distribution Practices
certifications from the European Medicines Agency (“EMA”) for the
Company’s Ebersbach facility in Germany. Specifically, these
certifications are for a 50,000 square foot area within Wayland’s
much larger facility located just outside of Dresden, Germany. This
marks Wayland’s second facility to receive the EU-GMP
certification, the highest standard of pharmaceutical production in
the
world.
These certifications provide Wayland
with the foundation to start selling product into the lucrative
German and other developing European markets with drastically
shorter lead times and greater margins. The Company will also now
be able to store bulk product in Germany for immediate sale into
the German market, which should serve to eliminate the lengthy
process involved in receiving individual export licenses. Selling
directly into Germany will allow the Company to capture higher
margins for their products as the market remains materially
undersupplied.
“We
have successfully developed a second EU-GMP facility that will
increase our presence and penetration of the market for medical
cannabis in Germany and throughout the rest of Europe. This
milestone makes Wayland the first Canadian licensed producer to
have organically achieved an end-to-end EU-GMP distribution and
production platform, furthering our competitive advantages at home
and abroad.” Stated Ben Ward, CEO of
Wayland.
About Wayland
Group
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 and, Allesandria, Piedmont, Italy. Wayland
will continue to pursue new opportunities globally, including the
consummation of its previously announced transactions in the United
Kingdom, Australia, Colombia, and Argentina, in its effort to
enhance lives through
cannabis.
Forward Looking
Information
This news release includes
forward-looking information and statements, which may 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 of the Company. Such statements include
statements regarding the Company's abilities to store and service
the German Market, as well as the Company’s improved margins.
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 the Company 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 the Company will be able to shorten
its lead times and improve its margins with such certifications.
Although the Company 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. Any forward-looking information and statements herein
are made as of the date hereof, and except as required by
applicable laws, the Company 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, 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 about Wayland,
please visit our website at www.waylandgroup.com
Contact
Information:
Investor
Relations
Graham
Farrell
VP,
Communications
Graham.Farrell@waylandgroup.com
647-643-7665
Media
Inquiries: media@waylandgroup.com
Corporate Headquarters
(Canada)
Wayland Group Corp.
(Toronto)
845 Harrington Court, Unit
3
Burlington Ontario L7N
3P3
Canada
289-288-6274
European Headquarters
(Germany)
MaricannGmbH
c/o Wayland
Max Joseph Str. 7
80333
Munich
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