NetworkNewsBreaks – Sugarmade, Inc. (SGMD) to Ex
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Posted On: 04/16/2020 4:13:03 PM
NetworkNewsBreaks – Sugarmade, Inc. (SGMD) to Expand BudCars into Southern California Marketplace Through Acquisition of Two Greater-LA Locations
Sugarmade (OTCQB: SGMD), together with its BudCars Cannabis Delivery Service, today announced the expansion of BudCars into the Southern California marketplace through the acquisition of two locations in the greater Los Angeles area. According to the update, the company’s Sacramento locations have been experiencing dramatic growth, with revenues consistently increasing 10% week-over-week, driven by exploding demand for contactless delivery of cannabis products due to the coronavirus lockdown. At these locations, the company now expects to surpass $30 million in annualized revenues. “Our Sacramento locations will pass the $10 million mark for annualized sales within the next 60-90 days,” Sugarmade CEO Jimmy Chan stated in the news release. “The growth has been so dramatic that we have had to drastically revise our expectations to the upside, which demands expansion, both in terms of staff and fleet in Sacramento, and in terms of regional expansion into Southern California. As a result, we are acquiring two distribution hub locations in the LA area with cannabis licenses included so we can hit the ground running.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Sugarmade (OTCQB: SGMD), together with its BudCars Cannabis Delivery Service, today announced the expansion of BudCars into the Southern California marketplace through the acquisition of two locations in the greater Los Angeles area. According to the update, the company’s Sacramento locations have been experiencing dramatic growth, with revenues consistently increasing 10% week-over-week, driven by exploding demand for contactless delivery of cannabis products due to the coronavirus lockdown. At these locations, the company now expects to surpass $30 million in annualized revenues. “Our Sacramento locations will pass the $10 million mark for annualized sales within the next 60-90 days,” Sugarmade CEO Jimmy Chan stated in the news release. “The growth has been so dramatic that we have had to drastically revise our expectations to the upside, which demands expansion, both in terms of staff and fleet in Sacramento, and in terms of regional expansion into Southern California. As a result, we are acquiring two distribution hub locations in the LA area with cannabis licenses included so we can hit the ground running.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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