Wuhan Announces Disposal

About this update from Wuhan General Group (china), Inc.

Wuhan General Group (China) Inc Announces DisposalCape Town, South Africa July 18, 2022Wuhan General Group (China), Inc (WUHN) (“Wuhan”) announces the disposal of its four operating companies to Institute of Biomedical Research Corp (MRES), a diversified biomedical company, for cash.The four acquired companies and their focus areas are:M2Bio Sciences Food and Beverage Proprietary Limited has a range of nutritional food and beverage products that are stocked by more than 100 stores in South Africa. M2Bio Sciences also conducts research into sustainable products using primarily hemp and mycelium, and is developing various cosmetics and complementary medicines using plant-based active ingredients;Neurai Life Sciences Proprietary Limited focuses on research into the application of plant-based and other non-invasive therapies to treat depression, addiction and other major afflictions of the 21st century;Tsime Pharmaceutical and Medical Supplies (Proprietary) Limited has a licence to cultivate, process and export cannabis for medicinal, scientific and any other legal use;MJMedtech Inc is registered in Canada and currently dormant.Wuhan will utilise the cash to negotiate the settlement of its debts.  Shareholders will be informed in due course of the outcome of the transaction, the negotiations with creditors and the future of Wuhan General Group (China), Inc.About Wuhan General Group, Inc.Wuhan General Group, Inc., 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 Liviana™ 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".Publicly traded company (OTC Pink: WUHN)Visit WebsiteAbout: Institute of Biomedical Research CorporationThe Institute of Biomedical Research is a biomedically ambitious business venture whose activ...

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