Wuhan General Group confirms
the cancelation of
60%
of its outstanding common shares
Montreal, QC -- September 14, 2018 -- InvestorsHub NewsWire Wuhan
General Group (China), Inc. (OTC
PINK: WUHN) (the "Company"), a Nevada investment company
focused on the industrial technology and other emerging market
space, is pleased to announce its completion of the first stage in
the reorganization of the Company's share structure. This
restructuring, consistent with the Company's strategic growth
plans, will serve to increase shareholder value and enhance the
Company's growth potential.
The company has reduced its outstanding common shares from 100
million to approx. 39.7 million. All canceled shares have been
returned to the company treasury to be used in future acquisitions
as well as to raise funds by means of private placements for
present and future projects. This action will allow the Company to
increase its cash flow without increasing the authorized number of
shares.
"We are excited about
achieving this milestone on our roadmap planned for 2018 and next
year." Said CEO, Ramy Kamaneh. "As we continue evaluating our
Company operations, we will continue building a strong foundation
to create a successful company that benefits all shareholders. We
are excited about achieving this goal and are in the process of
doing so with what is to come."
About Wuhan General Group (China) Inc
Wuhan General Group (China), Inc., based in Nevada is an investment
company focused in the areas of Cryptocurrency mining operations
and infrastructure. In addition to its strong commitment in
facilitating the development and adoption of cryptocurrency mining
operations, Wuhan continues to pursue distinct investment decisions
based on emerging markets that reflect the highest business,
technical, and legal standards.
Wuhan General Group (China), Inc.
Publicly traded company (OTC Pink:WUHN)
Website: www.wuhn.org
For further information contact:
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