Wuhan General Group Corporate Update

Rhea-AI Summary

Wuhan General Group, Inc. (WUHN) has announced significant updates amidst South Africa's transition to level 2 lockdown, enhancing supply chain operations. CEO Jeff Robinson and Head of Cannabis Production Willem Jonker plan to visit the Tsime Pharmaceuticals site in Lesotho for cannabis cultivation. Positive customer feedback has been received for their Medspresso CBD Coffee. The company is also launching a revamped website under M2Bio Science, aimed at better investor engagement and product information. Forward-looking statements highlight potential uncertainties ahead.

Positive

• Transition to level 2 lockdown in South Africa reduces supply chain disruptions.
• Plans to cultivate medicinal cannabis in Lesotho, enhancing production capabilities.
• Positive customer feedback on Medspresso CBD Coffee.
• Launch of a new corporate website for improved investor access.

Negative

• None.

CAPE TOWN, SA / ACCESSWIRE / August 21, 2020 / WUHAN GENERAL GROUP, INC. (OTC Pink:WUHN) ("Wuhan" or the "Company"), a bioceutical company focused on alternative plant-based cannabinoids and psilocybin medical research is delighted to share the following corporate update:

Supply Chain, Operations and Covid-19:

August 18th, South Africa transitioned from level 3 lockdown to level 2 with many restrictions being lifted amid its battle with coronavirus. This is great news for the Company and the country, as it enables more flexibility in managing supply chain risk and disruption. Coronavirus has had a colossal impact on almost all businesses in South Africa and around the world where supply chain challenges were felt from the global spread of COVID-19. With many restrictions being lifted, conditions should approach normalcy in the coming months.

Visits:

Wuhan CEO Jeff Robinson and Willem Jonker, Head of Wuhan Cannabis Production are scheduling a visit to the Tsime Pharmaceuticals site in Lesotho where the Company will cultivate 3 hectares of medicinal grade cannabis on a farm with a land area covering 32 hectares (or 80 acres). With its license, the Company will grow, extract and process medicinal cannabis on-site, a key element in driving Wuhan's medicinal cannabis research and the manufacturing of CBD by-products. Both Mr. Robinson and Mr. Jonker will be tested for Coronavirus and will need to test negative in order to make the 4-hour flight to the Kingdom of Lesotho from Cape Town.

Mr. Robinson and other Wuhan team members visited Edelweiss Laboratories on August 19th to finalize updated and go-to-market formulations for Dr. AnnaRx^tm Skincare, Haircare and Oral care Lines.

Mr. Robinson is scheduled to visit the beverage manufacturing partner CaffeLuxe in the coming weeks to place their first significant order for the Medspresso^TM range for sale through online e-commerce and select retail outlets.

Sales:

The company has been selling its Medspresso^TM Tanzanian Peaberry CBD Coffee online in Cape Town. Customer feedback has been extremely positive.

New Corporate Website:

The company is launching a brand new revamped website under the newly created corporate name M2Bio Science. The website offers quick and easy access to essential information and offers a more comprehensive understanding of the Company's vision, products and innovations. The website also has an extensive investor section with updated company news and events, financial and stock information, filings and corporate governance information. The new website is located at the new address: https://m2bio.co

YouTube Channel:

Please visit the M2Bio Sciences YouTube channel. The Company is using the following platform for business communication and to improve and augment their public relations efforts. Here are some elements posted and many more to come in the near future.

• Product videos
• Trade and industry videos
• Company executive interview videos
• New partnership videos

‘'Coronavirus slowed everybody down without a doubt. It did however give us lots of time to reflect, improve and plan much more efficiently and effectively. I look forward to sharing a boatload of rousing news in the near-term including our work to date in the psychedelics space. Stay tuned, we're just getting started!''

About Wuhan General Group, Inc./ M₂Bio Sciences, Inc

Wuhan General Group, 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 Dr. AnnaRx™ and Medspresso™ brands. In addition, its wholly-owned division, M₂Bio is researching and developing indications for psilocybin new therapies that will help patients who suffer from addiction, mental illness, Alzheimer's and Parkinson's. Our mission is to advance botanical-based medicine to the forefront by deploying best-practice science and medicine, clinical research and emerging technologies. Wuhan is listed and traded on the Over the Counter Bulletin Board of NASDAQ under the trading symbol "WUHN".

For further information:

Publicly traded company (OTC Pink: WUHN)
Website: https://m2bio.co
E-mail:info@m2bio.co
Follow us on Twitter: https://twitter.com/m2bio
Follow us on Facebook: http://www.facebook.com/M2BIO

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 to 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, Inc.

View source version on accesswire.com:
https://www.accesswire.com/602764/Wuhan-General-Group-Corporate-Update

FAQ

What recent updates has Wuhan General Group (WUHN) announced?

Wuhan announced updates about supply chain operations, a visit for cannabis cultivation, positive customer feedback on Medspresso CBD Coffee, and the launch of a new corporate website.

How is the COVID-19 situation affecting Wuhan General Group (WUHN)?

The transition to level 2 lockdown in South Africa is helping Wuhan manage supply chain risks more effectively.

What is the significance of the Lesotho cannabis cultivation site for WUHN?

Cultivating medicinal cannabis in Lesotho will enhance Wuhan's production capabilities and support its medicinal research initiatives.

What can investors expect from the new corporate website of WUHN?

The new website aims to offer better access to company news, financial data, and stock information, enhancing investor engagement.

What products does Wuhan General Group (WUHN) offer?

Wuhan offers CBD-based products under Dr. AnnaRx and Medspresso brands, focusing on alternative cannabinoids and psilocybin medical research.