Wayland Group announced it has completed a definitive joint venture agreement with CBD Italian Factory S.S., a company of Group San Martino for the production of high quality cannabis products in Italy. The joint venture will marry the best of both entities with technology by Rockwell Automation paired with existing infrastructure in Piedmont, Italy, which includes agricultural expertise and biogas electricity. This will allow the sustainable production of quality CBD and THC products from a naturally derived fuel source. A key aspect of this joint venture is the relationship with the University of Eastern Piedmont, which will develop a research center for the betterment of cannabis products for humans and animals. Initial research will focus on producing high CBD content for medical purposes, which will lead to further studies into high THC content, and medical uses. This new joint venture is founded as an agricultural company for the production of cannabis sativa and the creation of CBD based products developed for the pharmaceutical, therapeutic, medical and veterinary sectors with the relative commercialization in a new market with enormous potential. Wayland Group will also license VESIsorb® technology to this new joint venture with immediate import of products that contain, leading predictable, consistent, rapid onset absorption. VESIsorb® has multiple applications in beverage, edibles, capsules and transdermal products.

The joint venture will be a split of 50.1% (Wayland)/49.9% (CBD Italian Factory) with Massimiliano Umberto Signorini assuming the role of CEO for the new company.