Wuhan General Group has signed a letter of intent (LOI) with Biodeolts.
According to the company, the LOI calls for the purchase by Wuhan of 49% of the land, buildings, and infrastructure including the specialized greenhouse and drying ovens. A full agreement between the parties is expected to be reached in 45 days, the company says. The assets to be acquired include but are not limited to:
- 1.3 million square feet of cultivation space of which 300,000 square feet is ready to go as necessary permits are approved and issued. The additional 1,000,000 sq ft. will be built out and readied for early 2021.
- Specialized processing factory ISO 22000
- 8 Industrial GMP compliant dryers
- Water rights
"When we visited Biodelta in South Africa last month and saw first-hand the opportunity and possibilities we knew this was a deal that had to be made. This puts Wuhan on the global stage immediately in terms of sheer size and cannabis production capacity. Preliminary forecasts would see Wuhan produce 36,000 kg in phase one (300k sq. ft), and 175,000 kg (1.3M sq. ft) at full capacity," said MJ Medtech CEO Jeff Robinson.
For more information:
Wuhan General Corp
407-644-4256, ext. 131
[email protected]
wuhn.org