Maricann to rename itself as Wayland Group as it looks to widen its reach in cannabis

The Canadian medical marijuana group Maricann Group Inc (CSE:MARI, OTCQB:MRRCF) has unveiled plans to change its name to Wayland Group Corp and to begin trading under the ticker symbol WAYL starting tomorrow.

Maricann’s renaming to Wayland Group comes as part of its global expansion and the widening of its outreach efforts for both its medical and non-medical cannabis brands.

“The new name reflects the more expansive portfolio that we’ve built and the direction that we’re heading as a global cannabis company,” said CEO Ben Ward.

Headquartered in Burlington, Ontario and Munich, Germany, Maricann distributes marijuana for medical purposes, offering a variety of oil and flower products.

It has production facilities in Langton, Ontario, where it operates a medicinal cannabis cultivation, extraction and distribution business under a license from the Government of Canada. It also maintains production operations in Dresden, Saxon, Germany and Regensdorf, Switzerland.

Maricann’s proposed name change to Wayland is subject to the approval of its shareholders who are expected to vote on the proposal at a meeting later this year.

Maricann shares slipped 0.44% to C$2.24 in Monday’s afternoon session.

Story by ProactiveInvestors