$SGMD "to significantly increase cultivation operations for the 2019 planting season"
https://finance.yahoo.com/news/sugarmade-eyes...00315.html
Sugarmade Eyes Strong Revenue Growth Resulting From Hemp Provisions of U.S. Farm Bill
PR Newswire PR NewswireDecember 19, 2018
MONROVIA, California, December 19, 2018 /PRNewswire/ --
Sugarmade, Inc. (SGMD) believes the passage of the U.S. Farm Bill, which includes specific hemp cultivation and legalization provisions creates additional revenue and investment opportunities for the Company as farmers across the country announce plans to begin or expand the cultivation of hemp. Sugarmade provides multiple products for the cultivators and processors and is in process of bringing additional products into this marketplace.
The markets for industrial hemp, CBD oils and other hemp products are widely expected to explode upon implementation of the hemp provisions in the Farm Bill. Several analysts are now forecasting that the market for hemp and CBD will exceed even the size of the booming THC marijuana market.
"Our vast experience in the supply of cultivation, harvesting and processing products places Sugarmade in a strong position to increase its revenue and profit outlooks as dozens of new operations prepare to come online," commented Jimmy Chan, CEO of Sugarmade. "Many of our current products apply directly to the industrial hemp market, which is now opening up. Additionally, we will be marketing other products directly to this emerging market, particularly relating to post-harvest processing. We see this an important market in which we plan to be involved."
In addition to sales of hemp market related supplies, Sugarmade also holds an option to invest up to $1 million in Kentucky hemp operation, Hempistry, Inc., which recently successfully harvested its first 100 acre test crop. Plans are currently underway to significantly increase cultivation operations for the 2019 planting season.
Mr. Chan continued, "We are especially pleased with the specific provisions in the Farm Bill that include legalization of cannabidiol products. We think the inclusion of CBD into foods, beverages and other consumer products will continue to grow, creating additional markets for participants in the North American hemp industrial complex. We believe Sugarmade is very well prepared to capitalize on these booming markets."
About Sugarmade, Inc. (OTCQB: SGMD)
Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade's online stores include ZenHydro.com and CarryOutSupplies.com. For more information on the Company's products please visit http://www.Sugarmade.com.
STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements.
Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
For inquiries please call (888)-982-1628 or info@Sugarmade.com.
https://finance.yahoo.com/news/sugarmade-eyes...00315.html
Sugarmade Eyes Strong Revenue Growth Resulting From Hemp Provisions of U.S. Farm Bill
PR Newswire PR NewswireDecember 19, 2018
MONROVIA, California, December 19, 2018 /PRNewswire/ --
Sugarmade, Inc. (SGMD) believes the passage of the U.S. Farm Bill, which includes specific hemp cultivation and legalization provisions creates additional revenue and investment opportunities for the Company as farmers across the country announce plans to begin or expand the cultivation of hemp. Sugarmade provides multiple products for the cultivators and processors and is in process of bringing additional products into this marketplace.
The markets for industrial hemp, CBD oils and other hemp products are widely expected to explode upon implementation of the hemp provisions in the Farm Bill. Several analysts are now forecasting that the market for hemp and CBD will exceed even the size of the booming THC marijuana market.
"Our vast experience in the supply of cultivation, harvesting and processing products places Sugarmade in a strong position to increase its revenue and profit outlooks as dozens of new operations prepare to come online," commented Jimmy Chan, CEO of Sugarmade. "Many of our current products apply directly to the industrial hemp market, which is now opening up. Additionally, we will be marketing other products directly to this emerging market, particularly relating to post-harvest processing. We see this an important market in which we plan to be involved."
In addition to sales of hemp market related supplies, Sugarmade also holds an option to invest up to $1 million in Kentucky hemp operation, Hempistry, Inc., which recently successfully harvested its first 100 acre test crop. Plans are currently underway to significantly increase cultivation operations for the 2019 planting season.
Mr. Chan continued, "We are especially pleased with the specific provisions in the Farm Bill that include legalization of cannabidiol products. We think the inclusion of CBD into foods, beverages and other consumer products will continue to grow, creating additional markets for participants in the North American hemp industrial complex. We believe Sugarmade is very well prepared to capitalize on these booming markets."
About Sugarmade, Inc. (OTCQB: SGMD)
Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade's online stores include ZenHydro.com and CarryOutSupplies.com. For more information on the Company's products please visit http://www.Sugarmade.com.
STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements.
Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
For inquiries please call (888)-982-1628 or info@Sugarmade.com.
