LOS ANGELES, Jan. 30, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Wuhan General Group (China), Inc. (USOTC: WUHN) (the "Company" and "Wuhan"), announced today that its wholly-owned subsidiary MJ MedTech, Inc. (MJ MedTech) and Biodelta Nutraceuticals, Ltd. (Biodelta) have entered into a joint venture to develop, brand, market and commercialize the internationally trademarked Dr. AnnaRx.
The joint venture calls for an initial pilot whereby the Dr. AnnaRx line of CBD based products will be sold (as regulations allow) across South Africa in more than 1,000 pharmacies. The data Biodelta collects on the pilot will enable them to ensure the Dr. AnnaRx brand will deliver the highest possible ROI when introduced internationally.
This partnership marks a very strong start to 2019 for MJ MedTech as the Company expects to have product on the shelves by Q2/3 of 2019.
Dr. Anna Leralta, CMO of Wuhan, commented, "I'm thrilled to be working with the very strong scientific team at Biodelta. They have proven for many years their outstanding track record and expertise in the field of science-backed nutraceuticals. They are an ideal partner to help support our vision of developing effective CBD products backed by sound science."
Under the terms of the Agreement, Biodelta will exclusively develop, distribute and merchandise all products sold under the Dr. AnnaRx brand in South Africa and 8 additional African countries across the African continent.
Leon Giese, CEO of Biodelta, added, "There is a growing demand for CBD products in the South African market. Retailers and consumers want a brand they can trust, and we believe Dr. AnnaRx is a perfect fit."
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: info@biodelta.net
About Wuhan General Group (China), Inc.
Wuhan General Group (China), Inc. through its wholly-owned subsidiary MJ MedTech is a nutraceutical biotechnology company that owns, develops and commercializes a range of CBD-based products. At Wuhan, our mission is to advance CBD-based medicine to the forefront by deploying best practice science and medicine, clinical research and emerging technologies.
For further information contact:
Publicly traded company (USOTC: WUHN)
Website: www.wuhn.org
Public Relations E-mail: info@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.