MONTREAL, Dec. 19, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Wuhan General Group (China), Inc. (OTC PINK: WUHN) (the "Company" and "Wuhan"), announces today that the Company is successfully gaining a strong foothold in Canada, Europe, US and Australia through Cannabis regulatory compliance, either by obtaining or having access to the needed permits to cultivate, transform and sell cannabis products in the permitted location.
This will secure the proper supply chain to provide high quality cannabis products from all around the world that can be purchased at a retail store nearby as well as online. This alliance will also position Wuhan as a leader in curating the knowledge and clinical research to educate our consumers on the products provided and assist them in their purchases.
"With Canada having recently legalized cannabis, and being the second country in the world and the first G7 nation to fully implement legislation to permit a nationwide marijuana market, the barriers to achieving a global market are made clearer to those who wish to build a long-term business in the Cannabis industry," observes Wuhan CEO Ramy Kamaneh.
"In order to build a cannabis business in the Canadian market, a company must obtain a permit to grow and cultivate, a permit to process/transform and a permit to sell -- all of which are administered discretionarily by the city and the province in which the company wishes to operate. While Canada is not alone in doing so, this legislative barrier can only be penetrated by forming an alliance between different parties in the supply chain to maintain a profitable business in the long-term."
In essence, Wuhan is pursuing the same business model that airlines utilise to provide their travelers a wider reach globally without undertaking enormous operational costs. In a world and time of decentralized partnership, the strategic move is to create profitable and sustainable relationships that will provide us, and in consequence consumers with access to valuable clinical research and quality medicinal cannabis products formulated to address health problems such as cardiovascular diseases, diabetes, melanoma, depression and so much more.
Building these partnerships and establishing a worldwide alliance is the smartest path to securing a lasting profitable position in a hot market that is new at the moment. The most strategic move for us to expand globally and sustain our long-term growth would be to build partnerships through this alliance in order to break barriers to international entry.
For this reason, we are currently in negotiation with multiple parties involved in the cannabis space around the globe with different licences and products that we aim to import in 2019 to Canada's market first, and extend it to other adjacent country and so forth. This is a very exciting time as we are on the verge of partnering with cultivators, processing facilities, and clinical research centers which will enable us to offer a variety of CBD products in 2019 that aren't yet available in retail or online stores.
"Meanwhile, our team is making progress on the channels where customers can purchase our products. Our online store is designed and developed, ready to launch in early 2019 along with a rewards program that will drive customer loyalty and encourage sales through iOS and Android apps," says Ramy Kamaneh, CEO of Wuhan.
About Wuhan General Group (China), Inc.
Wuhan General Group is an alternative medicinal and botanicals company focused on the application of emerging technologies as well as the clinical research and health application of cannabidiol (CBD)-based medicine to the human and pet care industry for cancer, cardiovascular, mental disorders, chronic pain, and others in Canada, the United States, Europe, and Australia. We are committed to supplying medical grade CBD products, superior patient care while increasing shareholders ROI. We're on track to achieve a positive cash flow in the first quarter of 2019. According to a new estimate from cannabis industry analysts the Brightfield Group, the CBD market alone could hit $22 billion by 2022.
For further information, contact:
Public Relations
E-mail: info@wuhn.org
Publicly traded company (OTC Pink: WUHN)
Website: www.wuhn.org
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 (China), Inc.