Wuhan updates on Corporate,
Psilocybin and Cannabis Q3 2019 milestones
Cape
Town, South Africa -- July 2, 2019 -- InvestorsHub NewsWire
-- Wuhan General Group (China), Inc.
(OTC
PINK:
WUHN) (the "Company" and
"Wuhan"), is pleased to share the following statements and coming
milestones:
Statements
- The company
would
like to clarify for all past, current and
potential future shareholders that Wuhan General
Group is a
US-registered
corporation and has no dealings
with any Chinese parties as it relates to its
ongoing
business activities. To remove any
possible confusion with its current name and to better
reflect the nature of
the business, the Company
has retained the services
of a law firm to specifically take all necessary steps to
file a name
change with
FINRA. Once
approved, the company
will
issue a press release to inform shareholders.
- The
Company is currently investigating all options regarding an
up-listing
and
becoming a fully reporting
issuer. Wuhan will share more
information as it
becomes
available.
- The
Company last month closed on the purchase of 49% of Biodelta
Nutraceuticals, Ltd. ("Biodelta")
assets at a cost price of $USD1.567 Million
financed
by private funding. No shares have been issued for this
transaction. Biodelta
Nutraceuticals,
Ltd. assets
which
include the land,
buildings,
and the infrastructure as well as the specialized greenhouse and
drying ovens. These assets will be part of our new operational
facility located near Cape Town, South
Africa. This transaction
enables Wuhan to produce 36,000 kg of
Cannabis in phase one
(300k sq.
ft) which is ready to grow, and 175,000 kg
(1.3M sq.
ft) in phase 2, planned for later this year. The acquisition will
allow Wuhan
to
produce a very high-end
organic pharmaceutical grade CBD, eliminating the
risk of shortage as well as being cost-efficient.
Aerial
view of Wuhan Greenhouses in South Africa
Milestones
- Biodelta
Nutraceuticals has been contracted
to
support the Company's wholly-owned subsidiary, MJ MedTech Inc. to
develop, brand, market and commercialize its internationally
trademarked Dr. AnnaRx™. The Company is
planning to have its first Dr. AnnaRx™ line of CBD based products
in stores this month and expand across
South Africa in more than 1,000 pharmacies
in the
following weeks.
List of products this
month:
- Dr.AnnaRx
exclusive
line of CBD infused beauty and health products: Day
Cream, Night Cream,
Serum, Shampoo, Conditioner, UV Sun Protector.
-
Medspresso™, an exclusive line
of CBD infused espresso and coffee in capsule
format. The flavor
offered are Tanzanian Peaberry,
light, medium and dark roast, and decaf coffee.
- The
Company has retained the services of a law firm to work on
the cancellation of 19,844,398 shares
of WUHN
Common Stock held by Fame Good International Limited
previously issued
under past management.
Wuhan
strongly
believes that the shares were issued inappropriately and will
be canceled
and
returned
to the treasury. After cancellation, the
outstanding
shares count would be 22.4
million shares. A 47% reduction of
the current outstanding shares counts
of 42.2
million shares. Another positive step
in enhancing shareholder value.
- The
Company is delighted to witness US cities
decriminalizing
mushrooms
containing the psychedelic psilocybin, also known as
"magic mushrooms".
Wuhan
anticipates
this trend to continue
not only in the US but globally. M2BIO was
specifically set up to be
a leader in the field
of research and commercialization of medicines derived
from
mushrooms
containing psilocybin.
Wuhan
believes
the mushroom sector as it develops will have as much if not more
potential market size than the cannabis sector. More information
regarding international joint
venture
and partnership will be available once finalized.
- Wuhan, Biodelta,
and ARC are currently
working out the details for a comprehensive memorandum of
understanding (MOU) as it relates to cannabis and mushrooms.
The Agricultural Research Council
(ARC) is
the premier science institution in the southern hemisphere that
conducts research with
partners, develops human capital and fosters innovation to support
and develop the agricultural sector. Much more on this very
powerful partnership will be released via a Company press
release.
About Biodelta Nutraceuticals
Biodelta Nutraceuticals (ISO 22000 and organic certified)
is a Cape Town-based manufacturer and merchandiser of premium
health products to all pharmacy & health shop chains across
South Africa. For the past 12 years, Biodelta has developed,
designed and produced more than 1,000 products for these customers and is now
strategically positioned to launch CBD products through these
channels. In addition, Biodelta has license applications in
the progress for growing, extracting and product
development as well as dossiers for various CBD based
products.
For further information contact:
Website:
https://biodelta.net/
Public
Relations E-mail: info@biodelta.net
About Wuhan General Group (China), Inc.
Wuhan
General Group (China), Inc. through its wholly-owned subsidiary MJ
MedTech is a nutraceutical biotechnology company that researches,
develops and commercializes a range of
CBD-based products under the Dr. AnnaRx
brand. In
addition, its new division, M2BIO
aims to
explore and develop additional indications for psilocybin new
therapies that will help patients who suffer from mental illness.
Our mission is to advance botanical-based
medicine to the forefront by deploying best practice science and
medicine, clinical research and emerging technologies.
For further information
contact:
Publicly traded company (OTC
Pink: WUHN)
Website: www.wuhn.org
Public Relations E-mail: info@wuhn.org
Forward-Looking Statements:
Safe Harbour Statement - In addition to historical information,
this press release may contain statements that constitute
forward-looking statements within the meaning of the Securities Act
of 1933 and the Securities Exchange Act of 1934, as amended by the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements contained in this press release include the
intent, belief, or expectations of the Company and members of its
management team with respect to the Company's future business
operations and the assumptions upon which such statements are
based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future
performance, and involve risks and uncertainties and that actual
results may differ materially from those contemplated by such
forward-looking statements. Factors that could cause these
differences include, but are not limited to, failure to complete
anticipated sales under negotiations, lack of revenue growth,
client discontinuances, failure to realize improvements in
performance, efficiency and profitability, and adverse
developments with respect to litigation or increased litigation
costs, the operation or performance of the Company's business units
or the market price of its common stock. Additional factors that
could cause actual results to differ materially from those
contemplated within this press release can also be found on the
Company's website. The Company disclaims any responsibility to
update any forward-looking statements.
Source: Wuhan General Group (China), Inc.
Wuhan General (CE) (USOTC:WUHN)
Historical Stock Chart
From Nov 2024 to Dec 2024
Wuhan General (CE) (USOTC:WUHN)
Historical Stock Chart
From Dec 2023 to Dec 2024
