Sugarmade (OTCQB: SGMD), a leading, multidivisional/multiproduct/multisector supply company, recently entered into an agreement to lease five acres of land in Northern California (https://cnw.fm/adC1Q). SGMD intends to use the property, which is zoned for cannabis cultivation, to establish and operate licensed production with the capacity to produce as much as 3.6 million grams of high-quality cannabis flower per year. “We believe we have all of the strategic pieces in place to capitalize on cultivation, with the market currently chronically undersupplied,” Sugarmade chairman of the board, CEO and CFO Jimmy Chan said in an update. “We also have relationships in place, especially through our BudCars investment, to hit the ground running on the branded products side, driving strong margins up and down the chain.”
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About Sugarmade Inc.
Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. More information on Sugarmade can be accessed at: www.Sugarmade.com. Sugarmade sees opportunities in business operations that combine the best areas of on-demand consumer distribution with certain areas of synergistic manufacturing and packaging to create a business model that capitalizes on the many changes in the cannabis industry. The company has made agreements with several market participants, which will be announced in 2020. The company views these opportunities as scalable and capable of producing strong revenue growth.
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