MONTREAL, Jan. 22, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Wuhan General Group (China), Inc. (OTC PINK: WUHN) (the "Company" and "Wuhan"), announces today that the Company has successfully completed the acquisition of MJ MedTech, a nutraceutical biotechnology company that owns, develops and commercializes a range of CBD-based products under the International trademarked brand Dr. AnnaRx. 

With the closing of the acquisition, Jeff Robinson will continue in his role as CEO and President of MJ MedTech, and will be joining the Board of Directors of Wuhan. Also, Dr. Anna Leralta will be appointed Secretary and Treasurer of Wuhan, and will be joining the Board of Directors of Wuhan as well. The reorganization will take place in the coming days as we go through the transition.

"I'm very pleased and excited to have completed the MJ MedTech acquisition, as it represents a significant opportunity to take part in the ever-expanding cannabis sector. At the center of this decision was the value creation we promised to our investors and shareholders, as well as the sustainable success of the Wuhan General Group as a company," said CEO Mr. Kamaneh. "I look forward to integrating both Jeff and Anna into the leadership team of Wuhan."

''Dr. Anna and I are both very eager to begin executing and delivering for Wuhan shareholders. We look forward to sharing our 2019 roadmap and milestones in the very near future," said Jeff Robinson.

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.

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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 (China), Inc.