Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Midas Letter (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Wayland Group (CNSX:WAYL) Enters Another Global Jurisdiction

% of readers think this story is Fact. Add your two cents.


Wayland Group (CNSX:WAYL) (FRA:75M) (OTCMKTS:MRRCF) is at it again—this time definitively entering another sovereign jurisdiction and burgeoning market.

Early this morning, the company announced it has entered into an agreement to acquire 51% of UK based Theros Pharma Ltd., an early stage company which has imported medical cannabis to patients in the UK previously. The United Kingdom has recently sanctioned the use of medical cannnabis countrywide, with product available at pharmacies via prescription. Medical physicians may now prescribe products containing cannabis, cannabis resin or cannabinol at their discretion.

Terms of the deal are stock compensation-based, however back-end loaded. Wayland Group has agreed to make an initial payment of 3,800,000GBP (approximately C$6.45 million) followed by a second payment of 24,000,000GBP (approximately C$41.5 million) following certain milestones being achieved. One key milestone includes the issuance of a license to cultivate cannabis in the UK or a license to import medical cannabis for use in the UK. Both common share payments are subject to then-current market prices, at a floor issue price of $1.65/share.

The big takeaway in this whole equation is Wayland Group’s aggressive and ongoing worldwide expansion taking place. It has more commonality with activities undertaken by Aurora Cannabis, Aphria and Canopy Growth than it does with anything arising in the junior cannabis space. With this foray into the UK, Wayland is now entrenched in at least five European Union countries, on top of its South American footprint announced earlier this month.

And there’s more coming: CEO Ben Ward told Midas Letter Founder James West recently that, “I think we’ll be looking at something there in the near future…” in terms of an international presence in Japan.

A mid-year report published by the Institute of Economic Affairs pegged the current black market in cannabis is worth £2.6 billion per annum, with 255 tonnes sold to three million users in 2016/17. It’s unclear what the true scale of a combined medical/recreational market is, as there’s clear cross-correlations between the two (i.e. self-medication).

What is clear is that Wayland Group is making a move to capitalize on the sanctioning of medical cannabis within its shores. Few Canadian licensed producers have established and tangible operation in the United Kingdom to date. Wayland Group’s salvo aims to establish an early presence in a market that has no clear front-runner.

WAYL is up marginally on the news, $0.04 to $1.46/share (↑2.82%).

Original article: Wayland Group (CNSX:WAYL) Enters Another Global Jurisdiction

©2018 Midas Letter. All Rights Reserved.


Source: https://midasletter.com/2018/11/wayland-group-cnsxwayl-enters-another-global-jurisdiction/


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.