8K - $SGMD $30 Million Acquisition and/or Mergers
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Posted On: 10/27/2017 1:19:10 PM
8K - $SGMD $30 Million Acquisition and/or Mergers
https://www.sec.gov/Archives/edgar/data/91917...027_8k.htm
The Company is currently in late stage negotiations to acquire or to merge with two entities, which will further the Company’s strategic product goals and its movement toward e-commerce marketing:
Major Hydroponic Goods Distributor. Sugarmade is in late stage acquisition negotiations with a major distributor of hydroponic and agricultural supplies. Under the framework of the current negotiations, Sugarmade would acquire this privately held entity through a combination of cash and Company common shares, with Sugarmade being the surviving entity. This distributor is currently producing in excess of $30 million per year in revenues, is growing rapidly, and is profitable. Company management believes the resulting entity would be one of the largest publicly traded hydroponic and cannabis related operations and that such a combination would be highly accretive and beneficial to Sugarmade shareholders. Sugarmade plans to maintain its corporate policy of doing business in only the non-plant areas of the growing cannabis sector, although this is subject to change.
https://www.sec.gov/Archives/edgar/data/91917...027_8k.htm
The Company is currently in late stage negotiations to acquire or to merge with two entities, which will further the Company’s strategic product goals and its movement toward e-commerce marketing:
Major Hydroponic Goods Distributor. Sugarmade is in late stage acquisition negotiations with a major distributor of hydroponic and agricultural supplies. Under the framework of the current negotiations, Sugarmade would acquire this privately held entity through a combination of cash and Company common shares, with Sugarmade being the surviving entity. This distributor is currently producing in excess of $30 million per year in revenues, is growing rapidly, and is profitable. Company management believes the resulting entity would be one of the largest publicly traded hydroponic and cannabis related operations and that such a combination would be highly accretive and beneficial to Sugarmade shareholders. Sugarmade plans to maintain its corporate policy of doing business in only the non-plant areas of the growing cannabis sector, although this is subject to change.
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It's only $, play at ur own risk.
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