Wuhan General Group, Inc.
Under the Symbol:
Wuhan General Group Signs Distribution Agreement with Medigrow for International Distribution Rights of Medical Cannabis Products
Wednesday, June 10, 2020 8:30 AM
MONTREAL, QC / ACCESSWIRE / June 10, 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 signing of a distribution agreement with Medigrow Africa ("Medigrow"), an African based medical cannabis company with a formal network of legal African cannabis growers producing international medical-grade cannabis products for global distribution.
Under the distribution agreement, Wuhan will receive commercial licenses and rights to Medigrow's portfolio of medical-grade cannabis and hemp products. In the terms, Wuhan is granted the rights and will be responsible for marketing, distribution, and sales of certain Medigrow proprietary natural hemp and cannabis-based products.
"We see many strategic business opportunities to expand our relationship with Medigrow and this Agreement is the first of many other significant associations going forward with our partner. The Medigrow portfolio of international-grade medical cannabis products is a very tactical addition to our range of products and it really strengthens our commitment to medical cannabis," said Jeff Robinson, CEO of Wuhan.
"Our product range has been developed using innovative research and specialized formulations in order to deliver valuable health benefits to the consumer. This partnership will reinforce our brands Dr. AnnaRx™ and Medspresso™ as well as raise awareness on the importance of high premium quality medical cannabis ingredients in our products," added Dr. Anna, CMO of Wuhan.
Medigrow founder and CEO Willem Jonker said; "This partnership is the first of many steps going forward with Jeff Robinson and the Wuhan team. We share a common vision and execution strategies that will enable us to build a very profitable global powerhouse. "
About Medigrow Africa
Medigrow Africa is a formal network of legal African cannabis growers producing international-grade medical cannabis products for global distribution. Medigrow Africa is the the largest collective of African cannabis businesses and it dominates the African medicinal cannabis industry. Medigrow benefits from lower labor, land, and regulatory costs. Also, Medigrow is in the lower quartile of production costs and the upper quartile of profitability globally.
Produce European-quality medicinal cannabis with an African cost base.
Our mission is to give as many people in the world access to medicine from the cannabis plant and to benefit as many Africans as possible through the establishment of a medicinal cannabis industry in Africa.
For our customers: Medigrow Africa brings exceptional African medicinal cannabis products to the global market by combining global best practice and technical resources with traditional local knowledge and Africa's favorable climate to grow the highest standard of cannabis.
Medigrow respects human rights, the rule of law, justice and equality. Therefore, we aim to fully align with the United Nations Agenda 2030 (the Sustainable Development Goals).
The Global Cannabis market is booming through legalization, declassification, research, entrepreneurship and broader social acceptance. Africa is no different, which is evident in the number of countries that have legalized medicinal cannabis production recently.
Medigrow envisions Africa as the "centre-court" of future cannabis cultivation. We can see the beginnings of a new legal/formal industry and consequently new means of income, especially in rural areas around Africa. In the longer term, we are convinced that the African Cannabis Industry can help bring steady income to many people that lack work today, assist in building up infrastructure, and blur social stigmas while providing world-class medicinal cannabis to the globe."
Our underlying environmental philosophy is continuing to investigate ways to reduce the environmental impact of our operations.
As part of Medigrow Africa's intent to maximize the return on every hectare of cannabis, we are particularly mindful of the possible impacts of our operations on the use of natural resources and strive to minimize our impacts through efficient use responsibly and sustainably and through committing ourselves to continuous improvement.
We strive to comply with all applicable in-country environmental regulations. Furthermore, we are investigating a range of initiatives to preserve ecosystem integrity, protect biodiversity and enhance agricultural sustainability.
About Wuhan General Group, 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 new 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)
Follow us on Twitter: https://twitter.com/WGG_Company
Follow us on Facebook: http://www.facebook.com/wuhn
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.