ThreeD Capital To Make Largest Investment Into Psychedelics Industry With US$450,000 Investment Into Wuhan General Group (China) Inc.
TORONTO, Dec. 30, 2020 (GLOBE NEWSWIRE) -- ThreeD Capital Inc. (“ThreeD” or the “Company”) (CSE:IDK) (OTCQB:IDKFF), a Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors, is pleased to announce a US$450,000 investment in Wuhan General Group (China) Inc. (OTC PINK:WUHN) (“Wuhan”), a bioceutical company focused on alternative plant-based cannabinoids and psilocybin medical research.
The Company will acquire 1,500,000 units (the “Units”) at a price of US$0.30 per Unit. Each Unit will consist of one (1) common share of Wuhan (a “Common Share”) and one Common Share purchase warrant (a “Warrant”) exercisable at US$0.30 per Warrant. The Warrants will expire three (3) years from the date of issuance. The closing date for the private placement will be at the latest on January 31, 2021.
Sheldon Inwentash, Chairman and CEO of ThreeD Capital stated, “The investment thesis of ThreeD Capital is that psychedelics are going to experience a paradigm shifting and parabolic growth stage over this decade, leading to a critical role in the treatment of anxiety, depression, addiction and other mental health issues that traditional pharmaceuticals have not been able to adequately solve. Though we have made other smaller investments in the space, our investment in Wuhan General Group (China) represents our largest investment to date in a psychedelics company. We are investing in Wuhan General Group (China) because of the deep expertise and scientific knowledge this company has in psychedelics.”
This Press Release is available on the ThreeD Capital verified forum on AGORACOM. The forum is live and can be found at
About Wuhan General Group (China) Inc.
Wuhan General Group (China) Inc., through its wholly-owned subsidiary MJ MedTech is a nutraceutical biotechnology company focused on alternative plant-based cannabinoids and psilocybin medical research that develops and commercializes a range of CBD and mushrooms-based products under Dr. AnnaRx™, Medspresso™ and Handcrafted Delights™ brands. In addition, our research and clinical trials with psilocybin are aimed at new therapies that will help patients who suffer from alcohol addiction, mental illness and cardiovascular diseases. Our mission is to advance botanical-based medicine to the forefront by deploying best-practice science and medicine, clinical research and emerging technologies. The Company is traded on the Over-the-Counter Bulletin Board of NASDAQ under the trading symbol "WUHN".
About ThreeD Capital Inc.
ThreeD is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors. ThreeD’s investment strategy is to invest in multiple private and public companies across a variety of sectors globally. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services and access to the Company’s ecosystem.
| For further information: |
| Gerry Feldman, CPA, CA |
| Chief Financial Officer and Corporate Secretary |
| Phone: 416-941-8900 ext 106 |
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Forward-Looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of Canadian securities laws including, without limitation, statements with respect to the future investments by the Company. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. Although the Company believes that the expectations reflected in the forward looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the Company's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
