Maricann Group Inc (OTCMKTS:MRRCF) is officially operating under a new name, Wayland Group. Just recently, Wayland announced the acquisition of new licenses for additional grow rooms. According to a news release, the new grow rooms complete the first phase of the firm’s cannabis production facility.
New facility already in place
In particular, the purpose-built production facility is one of the strategic moves the firm is undertaking to exploit the market. According to the firm, there is a lot of demand for cannabis products especially across Canada.
With the new facility, Maricann Group will be able to grow the more than 20,000 plants. According to the firm, some part of the facility will specifically focus on perpetuation of the grow rooms. The other part will only grow a single cycle of flower.
Ben Ward, CEO of Wayland, insists the acquisition of the new facilities will bolster their commitment to their core objectives. In particular, the objectives include setting a high standard for quality, and products customers can trust. According to Ward, the newly acquired facility is an important step towards achieving that goal.
Stock splitting scrapped to maintain current momentum
Interestingly, the firm is employing advanced IT to help in cultivation of the crops. Using AI Data Grow platform, Maricann / Wayland can monitor the subtle processes of the growth process of cannabis.
“Full control of all aspects of cultivation from lighting, fertigation, nutrient cycles, temperature, humidity, and airflow is now in place, making quality of supply consistent and predictable,” said Ward.
Meanwhile, the firm offered an update regarding a reverse stock split announced earlier. As per the update, the company scrapped the stock split. According to Mr. Ward, they wouldn’t want to disrupt the momentum the firm is in right now. In particular, the company is on course to achieving a substantial part of its objectives.
However, the company’s strategic review will go on as planned. This way, Wayland will be in a good position to take advantage of the expected market growth for the coming years.
