Wuhan Closes Acquisition of Biodelta Nutraceuticals Assets
These assets will be part of our new operational facility located near Cape Town, South Africa ("Acquisition").
Wuhan General Group (China), Inc. (OTC
PINK: WUHN) (the "Company" and "Wuhan"), is pleased to announce
the closing of our previously announced Letter of Intent to acquire 49%
of Biodelta Nutraceuticals, Ltd. assets which
includes the land, the 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
("Acquisition"). Total consideration for the Acquisition is US$1.567
million paid in cash.
This transaction enables Wuhan to produce 36,000 kg of marijuana in
phase one (300k sq. ft), and 175,000 kg (1.3M sq. ft) in phase 2. In
addition, the facility will permit Wuhan to produce a very high-end
organic CBD, eliminating market shortage risk and guaranteeing supply.
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 process 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: [email protected]
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: [email protected]
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.
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