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Wayland Announces Filing of Final Short Form Prospectus in Connection with Special Warrant Offering
Wayland Announces Filing of Final Short Form Prospectus in Connection with Special Warrant Offering.
About this update from Wayland Group Corp
[{"type":"text","content":"\nTORONTO, Oct. 02, 2018 (GLOBE NEWSWIRE) -- \n Not for dissemination or distribution in the United States or through U.S. newswire services Wayland Group (CSE:WAYL) (FRANKFURT: 75M) (OTCQB:MRRCF) (“Wayland” or the “Company\") is pleased to announce that it has filed a final short form prospectus (“Prospectus”) in each of the provinces of British Columbia, Alberta and Ontario to qualify the distribution of 23,376,100 units of the Company (“Units”) and the common shares and warrants underlying such Units issuable for no additional consideration upon the exercise or deemed exercise of 23,376,100 special warrants of the Company (“Special Warrants”). The Special Warrants were issued in connection with the previously announced private placement offering (the “Offering”) which closed on August 10, 2018. The Special Warrants were sold at a price of $1.60 per Special Warrant (the “Issue Price”), for aggregate gross proceeds of approximately $37.4 million. Pursuant to the terms of the Agency Agreement, the Company agreed to use its best efforts to obtain a receipt for a final short form prospectus qualifying the distribution of the Units upon exercise of the Special Warrants (the “Qualification Condition”) on or before October 4, 2018 (the “Qualification Deadline”). The Qualification Condition was satisfied prior to the Qualification Deadline. Pursuant to special warrant indenture dated August 10, 2018 between the Company and TSX Trust Company, each Special Warrant is exercisable, without payment of any additional consideration, on the third business day after the date on which a Final Passport System Decision Document (the “Prospectus Receipt”) is received by the Company from the Ontario Securities Commission. As the Prospectus Receipt was received by the Company on October 2, 2018, the Company expects that the deemed exercise of the Special Warrants will occur on or about October 5, 2018. For more information on the Offering, please refer to the Prospectus, as well as the Company’s news releases, dated July 30, 2018, August 1, 2018, August 10, 2018, and August 22, 2018, available on the Company’s profile on SEDAR at www.sedar.com. Maricann Group Inc., through its subsidiaries, is operating under the Wayland Grou...