CAPE TOWN, SA / ACCESSWIRE / May 5, 2021 / 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:
The hemp and mycelium eco-friendly R&D division of M2Bio Sciences, has secured a laboratory facility near its Woodstock office in Cape Town, South Africa. This will enable the company to continue at greater scale the development of local, 100% bio-based, bio-sourced and biodegradable packaging solutions to replace single-use petroleum-based plastics.
The team of ambitious engineers and environmental scientists are developing and testing bio-based plastics from films to foams, including composites. They are using three-dimensional design and forming with hemp-infused PLA to create unique product molds for growing mycelium foam substitutes. The research will now be conducted in a dedicated eco-friendly lab, with a mission to achieve a zero-carbon footprint.
"Everyone is talking about the ‘60 000 uses of hemp' and the new mushroom economy - but not many are taking concrete steps to actually develop working products. Our laboratory is equipped with cutting-edge state of the art 3D printing hardware and software enabling our team to become leaders in the field of new alternative bio-materials" said Willem Jonker, COO of the M2Bio cannabis division.
The pilot project underway is a hemp and mycelium-based surfboard, the M2Bioboard, that's 100% plant-based and biodegradable. The research is being led by engineer Luke Colvin, a competitive world-class surfer. Born in Durban and having travelled much of the Southern African coastline, from Namibia to Mozambique in search of the perfect wave, now on a quest for nature's favorite surfboard.
About Wuhan General Group, Inc./ M2Bio Sciences, Inc
Wuhan General Group, Inc. (DBA M2bio Sciences), through its wholly-owned subsidiary MJ MedTech is a nutraceutical biotechnology company focused on alternative plant-based cannabinoids and psilocybin medical research that develops and commercializes a range of CBD and mushrooms-based products under Dr. AnnaRx™, Medspresso™, Liviana™ and Handcrafted Delights™ brands. In addition, our research and clinical trials with psilocybin are aimed at new therapies that will help patients who suffer from alcohol addiction, mental illness and cardiovascular diseases. Our mission is to advance botanical-based medicine to the forefront by deploying best-practice science and medicine, clinical research and emerging technologies. The Company is traded on the Over-the-Counter Bulletin Board of NASDAQ under the trading symbol "WUHN".
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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.