Wayland Group Corp.

Wayland Group Corp. (CSE: WAYL, FSE: 75M, OTC: MRRCF)

Ontario Superior Court of Justice, Court File No.: CV-19-00000114-0000

Quebec Superior Court of Justice, Court File No.: 500-06-001020-193

Wayland Group Corp. (“Wayland”) was a Canadian cannabis producer which at all times relevant to this action was in the process of expanding its main production facility in Langton, Ontario (the “Langton Facility”). This shareholder class action relates to Wayland  conducting multiple offerings thereby raising tens of millions of dollars from investors, and making alleged misrepresentations concerning:

1. How the proceeds from those public offerings would be used;
2. Regarding when each phase of the expansion of the Langton Facility would be completed and how much each phase would cost;
3. That the expansion of the Langton Facility was fully-funded from prior public offerings; and
4. About the increase in the pro forma output and revenues that would be achieved from the additional cannabis that would be produced beginning in 2019 as a result of the expansion of the Langton Facility.

On May 4, 2022, the Quebec Court authorized the cause of action for Article 575(2) to be certified as a class action defined as all Québécois who acquired Wayland’s securities on or after January 24, 2018 through April 23, 2019, and held some or all of those securities until after the release of at least one of the Public Corrective Disclosures.

During April and May 2022, the Plaintiffs received disclosures (over a million pages of internal documents) from MNP LLP and Wayland. LORAX Litigation and Morganti & Co., P.C., are in the process of reviewing the disclosures and will be amending the Ontario and Quebec claims within the near future.