Business
Wayland Group Receives Receipt for Final Prospectus for Previously Announced Bought Deal Financing
Wayland Group Receives Receipt for Final Prospectus for Previously Announced Bought Deal Financing.
About this update from Wayland Group Corp
[{"type":"text","content":"\nTHIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.\n TORONTO, Oct. 25, 2018 (GLOBE NEWSWIRE) -- Wayland Group (CSE:WAYL) (FRANKFURT: 75M) (OTCQB:MRRCF) (“Wayland” or the “Company”) announced today that it has received a receipt for a final prospectus (the \"Prospectus\") of the Company from the securities regulators in each of the provinces of Canada (other than Quebec) with respect to its previously announced $50,000,000 bought deal offering of units of the Company (the \"Offering\"). The Offering is expected to close on October 31, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including approval of the Canadian Securities Exchange and applicable securities regulatory authorities.  The Company intends to use the net proceeds from the Offering for expansion of its facility at 138, 8th Concession Road in Langton, Ontario and for working capital and general corporate purposes. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. Maricann Group Inc., through its subsidiaries, is operating under the Wayland Group name. For further details see the press release dated September 24, 2018. About Wayland GroupWayland is a vertically integrated producer and distributor of marijuana for medical purposes. 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 medicinal cannabis cultivation, extraction, formulation and distribution business under federal licence from the Government of Canada. The Company also has production operations in Dresden, Saxony, Germany and Regensdorf, Switzerland. Forward Looking Informa...