Wuhan General Group Financials Update

Rhea-AI Summary

Wuhan General Group, Inc. (OTC PINK: WUHN) has announced an update to its shareholders regarding its OTCMarket profile. The company has received access to OTCIQ and is in the process of updating its profile, with financial disclosures expected by December 8. Following this, Wuhan aims to achieve Current Information status by mid-December, enhancing operational flexibility for future initiatives. CEO Jeff Robinson highlighted the significance of these milestones for the company's strategy in alternative cannabinoid and psilocybin research.

Positive

• Access to OTCIQ allows for timely updates to company profile and financial disclosures.
• Anticipation of achieving Current Information status by mid-December, which could improve operational capabilities.

Negative

• None.

CAPE TOWN, SA / ACCESSWIRE / December 4, 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 pleased to announce the following update to its shareholders:

The Company is pleased to inform its shareholders that with OTCIQ having just granted access to the platform, it has started the process of updating its profile on OTCMarket. In addition, the Company is planning to post financials and information disclosure in the coming weeks. Our filings are currently being prepared and we anticipate all filings to be uploaded by December 8th. Once OTCMarket has reviewed our filings and approved them by moving us to Limited Information, we will proceed to file and upload the required opinion letter and have Current Information status tier by mid-December.

"This is a big first step in a series of very important milestones for Wuhan. Having a Current Status allows for much greater flexibility enabling us to execute some rather nifty deliverables." said Jeff Robinson, CEO of Wuhan General Group.

Our filings can be viewed on OTC Market' s website at the following link: https://www.otcmarkets.com/stock/WUHN/disclosure.

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™, Medspresso™ and Handcrafted Delights™ 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: www.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 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./M₂Bio Sciences, Inc.

View source version on accesswire.com:
https://www.accesswire.com/619511/Wuhan-General-Group-Financials-Update

FAQ

What is the latest update from Wuhan General Group regarding its OTCMarket profile?

Wuhan General Group has announced it has received access to OTCIQ and will update its OTCMarket profile, with financial disclosures expected by December 8.

When does Wuhan General Group expect to achieve Current Information status?

Wuhan General Group anticipates achieving Current Information status by mid-December.

What does the update mean for Wuhan General Group's shareholders?

The update indicates improved transparency and operational flexibility for Wuhan, which may benefit shareholders.

What is the significance of the OTCIQ access for Wuhan General Group?

Access to OTCIQ allows Wuhan to update its profile and share financial information, enhancing investor confidence.