Psilocybin Mushrooms Decriminalized in Denver

Wuhan Provides Update on its Medicinal Mushrooms Division M2BIO

BARCELONA, Spain -- May 9, 2019 -- InvestorsHub NewsWire -- Wuhan General Group (China), Inc. (OTC PINK: WUHN) (the "Company" and "Wuhan"), and M2BIO is delighted to share the voting results of Initiative 301 held in Denver last night. Denver will become the first US city to effectively decriminalize mushrooms containing the psychedelic psilocybin, also known as "magic mushrooms."

"This is a big step forward for medicine and research into medicinal mushrooms. No different than how marijuana laws loosened up over time, the same will happen with mushrooms creating huge opportunities," said Dr. Anna, Medical Doctor, CMO of Wuhan.

This type of pioneering vote isn't new for Denver or Colorado as a whole. In 2012, Colorado's and Washington's state became the first two states to legalize marijuana for recreational use. Oregon and California, are considering measures to change their laws regarding psilocybin as well.

"The Denver vote and results are truly groundbreaking news for Wuhan and M2BIO. We are really looking forward to sharing very soon in details our medicinal mushroom roadmap in South Africa with our partner BioDelta," said Jeff Robinson, MJ MedTech CEO.

Leon Giese, Biodelta CEO added: "BioDelta has deep experience in producing medicinal plants under ISO 9001 certification and we are eager to be working with Wuhan to grow and commercialize medicinal mushrooms into our existing supply chain."

About M2BIO

M2BIO aims to develop new therapies that will help patients who suffer from mental illness and ease the burden on healthcare systems globally. This division will be exploring additional indications for psilocybin, with the goal of bringing new therapies to market.

Psilocybin mushrooms (AKA magic mushrooms, or shrooms) is the name given to fungi that contain psilocybin, a naturally occurring psychedelic compound. Psilocybin mushrooms have been used in therapeutic settings to treat a wide variety of ailments and disorders including cluster headaches, obsessive-compulsive disorders, anxiety, depression, and addiction.

About Wuhan General Group (China), Inc.

Wuhan General Group (China), Inc. through its wholly-owned subsidiary MJ MedTech is a nutraceutical biotechnology company that research, develops and commercializes a range of CBD-based products under the Dr. AnnaRx brand. In addition, its new division, M2BIO aims to explore and develop additional indications for psilocybin new therapies that will help patients who suffer from mental illness. Our mission is to advance botanical-based medicine to the forefront by deploying best practice science and medicine, clinical research and emerging technologies.

For further information contact:

Publicly traded company (OTC Pink: 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.

Wuhan General (CE) (USOTC:WUHN)
Historical Stock Chart
From Nov 2024 to Dec 2024