MONTREAL, Dec. 19, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Wuhan General Group (China), Inc. (OTC PINK: WUHN) (the "Company" and "Wuhan"), announces today that the Company is successfully gaining a strong foothold in Canada, Europe, US and Australia through Cannabis regulatory compliance, either by obtaining or having access to the needed permits to cultivate, transform and sell cannabis products in the permitted location.
This will secure the proper supply chain to provide high quality cannabis products from all around the world that can be purchased at a retail store nearby as well as online. This alliance will also position Wuhan as a leader in curating the knowledge and clinical research to educate our consumers on the products provided and assist them in their purchases.
"With Canada having recently legalized cannabis, and being the second country in the world and the first G7 nation to fully implement legislation to permit a nationwide marijuana market, the barriers to achieving a global market are made clearer to those who wish to build a long-term business in the Cannabis industry," observes Wuhan CEO Ramy Kamaneh.
"In order to build a cannabis business in the Canadian market, a company must obtain a permit to grow and cultivate, a permit to process/transform and a permit to sell -- all of which are administered discretionarily by the city and the province in which the company wishes to operate. While Canada is not alone in doing so, this legislative barrier can only be penetrated by forming an alliance between different parties in the supply chain to maintain a profitable business in the long-term."
In essence, Wuhan is pursuing the same business model that airlines utilise to provide their travelers a wider reach globally without undertaking enormous operational costs. In a world and time of decentralized partnership, the strategic move is to create profitable and sustainable relationships that will provide us, and in consequence consumers with access to valuable clinical research and quality medicinal cannabis products formulated to address health problems such as cardiovascular diseases, diabetes, melanoma, depression and so much more.
Building these partnerships and establishing a worldwide alliance is the smartest path to securing a lasting profitable position in a hot market that is new at the moment. The most strategic move for us to expand globally and sustain our long-term growth would be to build partnerships through this alliance in order to break barriers to international entry.
For this reason, we are currently in negotiation with multiple parties involved in the cannabis space around the globe with different licences and products that we aim to import in 2019 to Canada's market first, and extend it to other adjacent country and so forth. This is a very exciting time as we are on the verge of partnering with cultivators, processing facilities, and clinical research centers which will enable us to offer a variety of CBD products in 2019 that aren't yet available in retail or online stores.
"Meanwhile, our team is making progress on the channels where customers can purchase our products. Our online store is designed and developed, ready to launch in early 2019 along with a rewards program that will drive customer loyalty and encourage sales through iOS and Android apps," says Ramy Kamaneh, CEO of Wuhan.
About Wuhan General Group (China), Inc.
Wuhan General Group is an alternative medicinal and botanicals company focused on the application of emerging technologies as well as the clinical research and health application of cannabidiol (CBD)-based medicine to the human and pet care industry for cancer, cardiovascular, mental disorders, chronic pain, and others in Canada, the United States, Europe, and Australia. We are committed to supplying medical grade CBD products, superior patient care while increasing shareholders ROI. We're on track to achieve a positive cash flow in the first quarter of 2019. According to a new estimate from cannabis industry analysts the Brightfield Group, the CBD market alone could hit $22 billion by 2022.
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Source: Wuhan General Group (China), Inc.