Business
International Cannabis to Acquire 49.9% of International Asset and Licence Portfolio From Wayland Group; Adds Licences in Germany, Switzerland, United Kingdom, Italy, Malta, Colombia, Argentina and Australia
International Cannabis to Acquire 49.9% of International Asset and Licence Portfolio From Wayland Group; Adds Licences in Germany, Switzerland, United Kingdom, Italy, Malta, Colombia, Argentina and Australia.
About this update from Wayland Group Corp
[{"type":"text","content":"\nVANCOUVER, British Columbia, Jan. 15, 2019 (GLOBE NEWSWIRE) -- ICC International Cannabis Corp. (CSE: WRLD.U) (FWB: 8K51) (OTC: KNHBF) (\"ICC\" or “International Cannabis” or the “Company”) is pleased to announce that it has entered into a Letter of Intent (the “LOI”), pursuant to which the companies will complete a Definitive Purchase Agreement (the “Definitive Agreement”) on or before March 1, 2019, to acquire 49.9% of Wayland Group Corp.’s (CSE: WAYL)(FWB: 75M)(OTCQB: MRRCF) (“Wayland”) international assets and licence portfolio, as further described below (the “Transaction”). Wayland’s international assets and licences will be held in a subsidiary (the “International Subsidiary”), owned by Wayland and International Cannabis. The International Subsidiary will include key management from Wayland.\n Upon closing of the Transaction, International Cannabis will acquire a 49.9% interest in the following operations, partnerships, licences and asset exposure: German Cannabis import license, indoor medical cannabis cultivation license application, 820,000 ft2 facility with 50,000 sq. ft. certified packaging/distribution center (replacement cost of 110M Euro), annual production of over 2,400 kg of CBD isolate, 165 hectares of CBD cultivation operations, as well as a three-year agreement to supply medical Cannabis to 2,200 pharmacies.The 820,000 ft2 Ebersbach Facility has a replacement cost of 110M Euro. Of the many applicants for German medical THC cultivation licenses, only two have a completed facility and of those that do, the largest is 14,000 sq. ft. or 1.7% the size of the Ebersbach Facility. Swiss cannabis cultivation operation, with 60,000 square foot cultivation facility, proprietary genetics portfolio available for export, THC distillate import capabilities and material revenues from Haxxon AG operations; Leading candidacy for one of seven medical cannabis licences to be issued by the Italian government, as well as an ownership interest in a joint venture to produce Cannabis products;  Maltese license to manufacture finished-dose medical Cannabis; Colombian licences for THC/CBD production, extraction and export and pending access to a EU-GMP certified API facility for Cannabis distillate processing; Leading c...