- Formerly known as Maricann Group, Wayland has struggled with indoor crops damaged by a windstorm, and an Ontario Securities Commission investigation that resulted in charges laid against former CEO Ben Ward.
New Cannabis Ventures, Equity Guru, the Deep Dive
- In September, shareholders’ rights law firm Morganti & Co filed a class-action suit against Wayland, alleging mismanagement and dishonest reporting.
Financial Post, The Deep Dive
Ontario LP AgMedica Bioscience also applied for creditor protection. In its filing, there was a warning for the sector: “Many other licensed producers of cannabis in Canada face similar pressures due to capital market conditions that have challenged the cannabis industry in recent months.”
MJ Biz Daily
- AgMedica explained its reasons for seeking protection include “price competition with the illicit market, challenges with the roll-out of retail models across the country, and learning curves to adjust product mix to match consumer demands.”
- Edibles makers bemoaned the timing of 2.0 legalization that will prevent their products from making the holidays more endurable.