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Wayland Group (CNSX:WAYL) CEO Ben Ward on ICC Sale Agreement
Wayland Group (CNSX:WAYL) (FRA:75M) (OTCMKTS:MRRCF) CEO Ben Ward explains the company’s LOI with ICC International Cannabis Corp (CNSX:WRLD.U). Under the terms of the agreement, Wayland will sell 49.9 percent of its international assets (valued at USD $258 million), to International Cannabis Corp and will receive 300 million shares in ICC. Ward explains that the deal completes Wayland’s vertical integration strategy and gives the company broad distribution. As part of the agreement, Wayland will supply Cosmos Holdings with 10,000 kilograms of EU GMP-certified product per year. Crucially, Wayland now has access to over 27,000 pharmacies in Western Europe, which reach an estimated 390 million people. By pairing assets with ICC, Wayland has achieved a distribution footprint other LPs have achieved through outright purchase, but at a fraction of the cost.