NetworkNewsBreaks – Sugarmade Inc. (SGMD) Announ
Post# of 386
(Total Views: 145)
Posted On: 07/26/2019 5:07:05 PM
NetworkNewsBreaks – Sugarmade Inc. (SGMD) Announces Completion of BZRTH Audit and Initial Investment in Hempistry
Major supplier to the growing hydroponic cultivation and hemp sectors Sugarmade (OTCQB: SGMD) this morning provided an update on the status of its pending acquisition of hydronic cultivation supplier, BZRTH, Inc., as well as the status of its investments in Kentucky-based hemp cultivator, Hempistry, Inc. According to the update, BZRTH, a target acquisition of the company, completed its audits for previous financial periods. In addition, Sugarmade has completed the first round of closings relative to its proposed investments of up to $1,000,000 in privately held Hempistry, Inc. via its first tranche investment of $190,000. "The closing of the BZRTH audit provides Sugarmade with several more options for growth and our recently effective S-1 filing open doors for financing options," SGMD CEO Jimmy Chan said in the news release. "We are analyzing several of these options in order to select the path for greatest shareholder maximization. We are also pleased to report we have made an initial investment in hemp cultivator Hempistry where Sugarmade will have a direct participation in the profits from this year's hemp crop. Operations in Kentucky are well underway."
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Major supplier to the growing hydroponic cultivation and hemp sectors Sugarmade (OTCQB: SGMD) this morning provided an update on the status of its pending acquisition of hydronic cultivation supplier, BZRTH, Inc., as well as the status of its investments in Kentucky-based hemp cultivator, Hempistry, Inc. According to the update, BZRTH, a target acquisition of the company, completed its audits for previous financial periods. In addition, Sugarmade has completed the first round of closings relative to its proposed investments of up to $1,000,000 in privately held Hempistry, Inc. via its first tranche investment of $190,000. "The closing of the BZRTH audit provides Sugarmade with several more options for growth and our recently effective S-1 filing open doors for financing options," SGMD CEO Jimmy Chan said in the news release. "We are analyzing several of these options in order to select the path for greatest shareholder maximization. We are also pleased to report we have made an initial investment in hemp cultivator Hempistry where Sugarmade will have a direct participation in the profits from this year's hemp crop. Operations in Kentucky are well underway."
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
(0)
(0)