NetworkNewsBreaks – Sugarmade Inc. (SGMD) Signs
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Posted On: 09/30/2020 3:41:19 PM
NetworkNewsBreaks – Sugarmade Inc. (SGMD) Signs Agreement for Property to Use for Planned Cannabis Cultivation
Sugarmade (SGMD) a leading, multidivisional/multiproduct/multisector supply company, has entered into a property lease agreement with LMK Capital LLC. The agreement includes five acres of cropland located in Northern California, which has been zoned for cannabis cultivation. Sugarmade plans to use the property to operate a licensed cannabis production business, which it anticipates may produce up to 3.6 million grams of high-quality cannabis flower annually. The company’s strategic plan calls for marketing the cannabis as both white-label and branded cannabis products through various distributors. Among those distributors will be BudCars Cannabis Delivery Service (“BudCars”), a cannabis delivery company that is seeing impressive growth. Sugarmade owns a 40% stake in BudCars, along with an option to acquire an additional 30%. “We believe we have all of the strategic pieces in place to capitalize on cultivation, with the market currently chronically undersupplied,” said Sugarmade chairman of the board, CEO, and CFO Jimmy Chan in the press release. “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.”
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 (SGMD) a leading, multidivisional/multiproduct/multisector supply company, has entered into a property lease agreement with LMK Capital LLC. The agreement includes five acres of cropland located in Northern California, which has been zoned for cannabis cultivation. Sugarmade plans to use the property to operate a licensed cannabis production business, which it anticipates may produce up to 3.6 million grams of high-quality cannabis flower annually. The company’s strategic plan calls for marketing the cannabis as both white-label and branded cannabis products through various distributors. Among those distributors will be BudCars Cannabis Delivery Service (“BudCars”), a cannabis delivery company that is seeing impressive growth. Sugarmade owns a 40% stake in BudCars, along with an option to acquire an additional 30%. “We believe we have all of the strategic pieces in place to capitalize on cultivation, with the market currently chronically undersupplied,” said Sugarmade chairman of the board, CEO, and CFO Jimmy Chan in the press release. “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.”
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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