Business
Wuhan General Group Closes Acquisition of Tsime Pharmaceuticals (PTY) Limited
Wuhan General Group Closes Acquisition of Tsime Pharmaceuticals (PTY) Limited.
About this update from Wuhan General Group (china), Inc.
[{"type":"text","content":"CAPE TOWN, SA / ACCESSWIRE / January 14, 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 effective today, it has executed and closed the Acquisition (the "Transaction") of Tsime Pharmaceuticals (Pty) Ltd ("Tsime"). Tsime will become a subsidiary of MJ Medtech Inc.The Tsime license grants the ability to cultivate, extract and process medicinal cannabis and sell the commodity for medicinal, scientific and any other legal purpose. Located in the Kingdom of Lesotho in Southern Africa, Tsime plans to cultivate up to 3 hectares of medicinal-grade cannabis on the farm with a land area covering 23 hectares (57 acres). With its license, the Company will grow, extract and process medicinal cannabis on-site, a key element in driving research and the manufacturing of cannabidiol (CBD) by-products. The project's first crop is scheduled for Q4 2021.Willem Jonker, COO of Wuhan General Group, said: "We are pleased to be moving ahead with our plans for Lesotho despite the pandemic. We have planned the physical roll-out of the cultivation facility which will now start in short order. We are excited to be able to invite the CEO, Jeff Robinson, to the site to inspect the progress. "About Wuhan General Group, Inc./ M2Bio Sciences, IncWuhan 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™ 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".For further information:Publicly traded company (OTC Pink: WUHN)Website: www.m2bio.coE...