BARCELONA, Spain, Aug. 07, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Wuhan General Group, Inc. (OTC PINK: WUHN) (the "Company" and "Wuhan"), is pleased to announce a strategic reorganization that will better position the company to capitalize on the rapidly changing Medical Marijuana and Psilocybin Mushroom industries, while more closely aligning the business with the company’s three primary growth strategies: optimizing the value of the core; increasing health and well-being product lines, and accelerating distribution of new business models.
"Throughout his tenure as CEO, Mr. Kamaneh was instrumental in leading Wuhan in surpassing many milestones, and he has provided sound financial leadership to the Company," said Jeffrey Robinson, newly appointed CEO. Mr. Kamaneh’s transition as Chief Financial Officer within the company only strengthens managements with his more than fifteen years of experience in finance and various manufacturing industries. Ramy brings a rare combination of expertise leading both public companies and private companies through significant stages of growth. At Wuhan, he will support the company's next level of expansion by aligning corporate finance with all aspects of the business, from engineering and manufacturing to logistics and operations.
Mr. Robinson further comments: “The transformative joint-venture partnership between Wuhan and Biodelta served as a catalyst for us to re-examine how to best organize the company for increased emphasis on execution and profitable growth. This strategic reorganization focusing on each of our own core strengths, the integration of Wuhan and Biodelta, and long-term growth provide the right structure for us to optimize the value of our businesses today while creating future-oriented opportunities.”
"Mr. Robinson’s appointment and this transition are essential milestones in a succession plan that the board of directors has been working on for the past months," says Ramy Kamaneh. "Mr. Robinson’s people-focused leadership style, industry expertise, and market understanding will build on the success of the Company. Mr. Robinson is focused on the future and guiding Wuhan in achieving its long-term strategic goals.”
Additionally, Mr. Luka Marjanovic is joining the Wuhan team as Head of Product Development for the MJ MedTech division In South Africa. This new appointment solidifies Wuhan’s core business operations. Mr. Marjanovic is responsible for the development, implementation, enhancement and support of the Dr. AnnaRx™ and Medspresso™ products, and delivery channels. This includes conceptual stages through research, development, marketing, training, performance tracking and the entire product life cycle in support of Wuhan’s strategic goals and objectives.
Mr. Marjanovic is taking an integrative approach to build solutions and drive product development. “I’m excited to work with the team and to be given the opportunity to apply strategic practices that I’ve gained through my prior experience as we continue to improve our products, processes, and scaling of our operations. The speed, frequency, and timeline of product releases for the Dr. AnnaRx™ line are very impressive,” says Mr. Marjanovic. “We plan to have 30 products in the pipeline by year-end.”
About Luka Marjanovic, BSc., MSc.
Mr. Marjanovic holds a Bachelor’s in International Business from Denmark and a Master’s in International Management from ESADE Business & Law School. During his undergraduate studies, he founded his own consulting firm, providing services to local businesses in various sectors; as well as working as a research assistant in the field of Big Data. Prior to his education, he served in the Danish Royal Army as Second Sergeant, leading and managing a group of men, under extreme pressures and conditions. Luka has spent significant time abroad, living and working in six different countries, and is now responsible for designing business models and go-to-market strategies for Dr. AnnaRx™ and Medspresso™ products.
About Wuhan General Group, Inc.
Wuhan General Group, Inc. through its wholly-owned subsidiary MJ MedTech is a nutraceutical biotechnology company that researches, develops and commercializes a range of CBD-based products under the Dr. AnnaRx™ and Medspresso™ brands. In addition, its new wholly-owned division, M2Bio is researching and developing indications for new Psilocybin therapies that will help patients who suffer from mental illness, Alzheimer and Parkinson disease. Our mission is to advance botanical-based medicine to the forefront by deploying best-practice science and medicine, clinical research, and emerging technologies. Wuhan is listed and traded on the Over the Counter Bulletin Board under the trading symbol “WUHN”.
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.