Wayland Group Corp.

INVESTORS MAY SUBMIT A CLAIM TO PARTICIPATE IN THE SETTLEMENT AT OUR SECURED CLAIMS ADMINISTRATION WEBSITE

CUSIP: 944204 and 566724100

ISIN: CA5667241007

NOTICE OF SETTLEMENT APPROVAL

WAYLAND GROUP CORP., formerly known as MARICANN GROUP INC.

SECURITIES CLASS ACTION SECURITIES CLASS ACTION

READ THIS NOTICE CAREFULLY AS IT MAY AFFECT YOUR RIGHTS

This Notice is directed to all persons and entities, other than Excluded Persons, wherever they may reside or be domiciled, who purchased or otherwise acquired common shares, units and warrants of Wayland Group Corp. and Maricann Group Corp. on or after December 13, 2017 and held some or all of said securities as of the close of trading on August 2, 2019 (the “Class” or “Class Members”)

PURPOSE OF THIS NOTICE

Class actions brought on behalf of Class Members have been settled. The Settlement has been approved by the Ontario Superior Court of Justice (the “Court”). This Notice provides Class Members with information about how to submit a Claim Form to the Administrator in order to participate in the distribution of the Net Settlement Amount.

THE ACTIONS

This Notice concerns the following three shareholder class actions which were commenced in the Court: (i) Marco Stajic, Mordecai Bobrowsky, and Kyle Yamamura v. Wayland Group Corp. and Benjamin Ward, Court File No. CV-21-00665194-00CP (the “Wayland Action”); (ii) Marko Stajic v. Scott Langille, Gerhard Muller, Paul Pathak, Eric Silver, Michael Stein, and John Does 1-3, Court File No. CV-22-00687490-00CP (the “Stajic Action”); and (iii) Michaël Bordeleau-Tassile v. Canaccord Genuity Corp., and GMP Securities L.P., Court File No. CV-23-00693650-00CP (the “Bordeleau-Tassile Action” and collectively with the Wayland Action and the Stajic Action, the “Actions”).

The Plaintiffs in the Actions allege that the Defendants made misrepresentations or failed to disclose a material change or material fact concerning Wayland, its operations and/or financial status, including in connection with its production facility located in Langton, Ontario, and/or its Chief Executive Officer, Benjamin Ward, during the period of December 13, 2017 to August 2, 2019. The Defendants in the Stajic Action, the Defendants in the Bordeleau-Tassile Action, and with the Defendant Wayland, through its Litigation Guardian, in the Wayland Action (together, the “Settling Defendants”) deny the allegations and deny any wrongdoing or liability.

The settlement of the Actions was approved by the Honourable Justice Edward Morgan on March 19, 2026. This notice summarizes the Settlement.

SUMMARY OF THE SETTLEMENT TERMS

The Settling Defendants will cause CAD $8 million (the “Settlement Amount”) to be paid, in full and final settlement of all claims against it in the Action. Class Counsel Fees, including out-of-pocket expenses and taxes, were approved by the Court in the amount of $2,400,000, plus disbursements plus taxes. The settlement for the Class, less the Class Counsel Fees and disbursements, administrator’s expenses, and taxes, will be distributed to the Class in accordance with the Court-approved Plan of Allocation. The Settlement Agreement and Plan of Allocation may be viewed at www.bergermontague.com/cases/wayland-group-corp/.

HOW TO MAKE A CLAIM FOR COMPENSATION

Each Class Member must submit a completed Claim Form on or before August 20, 2026, in order to participate in the settlement.

The Court appointed Berger Montague (Canada) PC as the Administrator of the settlement to, among other things: (i) receive and process Claim Forms; (ii) decide eligibility for compensation; and (iii) distribute the net Settlement Amount to eligible Class Members.

The Claim Form should be submitted to the Administrator by using the secure Online Claims System.

QUESTIONS

Questions for the Class Members’ lawyers may be directed to:

Berger Montague (Canada) PC
330 Bay Street, Suite 505
Toronto, ON M5H 2S8
Tel: (647) 576-7840
Email: Canadainfo@bergermontague.com

INTERPRETATION

If there is a conflict between the provisions of this Notice and the Settlement Agreement, the terms of the Settlement Agreement will prevail.

This notice has been approved by the Court.  Questions about matters in this notice should be directed to Berger Montague (Canada) PC and NOT be directed to the Court.

BACKGROUND

Wayland was a Canadian cannabis producer that, 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:

• How the proceeds from those public offerings would be used;
• Regarding when each phase of the expansion of the Langton Facility would be completed and how much each phase would cost;
• That the expansion of the Langton Facility was fully funded from prior public offerings; and
• 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.

The investors allege that, in a series of storm-warning-type public corrections, Wayland released information about its business, operations, and finances that conflicted with its prior statements. MNP LLP, the auditor, agreed and refused to sign off on Wayland’s F/2018 financial statements.

On May 6, 2019, Wayland’s securities in Canada were subject to a halt-trading order issued by the Securities Commission. The securities never traded again, and investors holding the shares suffered a complete loss.

On August 2, 2019, Wayland announced that MNP LLP was resigning as its auditor, effective immediately, and that it was unable to complete the audit of its F/2018 financial statements, and by extension its 1Q and 2Q 2019 financial statements and MD&A because Mr. Ward had hindered MNP’s ability to conduct an audit. 

Subsequently, Wayland applied for and obtained an order for protection under the Companies’ Creditors Arrangement Act (“CCAA”). Wayland’s securities became worthless.

Marko Stajic. v. Mariana Marijana Bracic,CV-24-00717509-00CP.

By Order dated March 10, 2026, the Ontario Superior Court of Justice has approved the without prejudice discontinuance of the class proceeding in Marko Stajic. v. Mariana Marijana Bracic, CV-24-00717509-00CP.

The discontinuance is effective as of March 10, 2026.

This action has not been certified as a class proceeding. The effect of the discontinuance is that this uncertified lawsuit is concluded: it will not proceed to certification motions or trial, and there will be no judgment or settlement in favour of the class. Limitation periods, which were suspended in favour of members of the proposed class in the action, by virtue of s. 28(1) of the Class Proceedings Act will commence running again from March 10, 2026. Members of the proposed classes who still wish to pursue other forms of legal proceedings regarding the allegations in these lawsuits should seek legal advice as soon as possible.