NetworkNewsBreaks – Sugarmade Inc. (SGMD) Secure
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Posted On: 02/12/2021 3:33:04 PM
NetworkNewsBreaks – Sugarmade Inc. (SGMD) Secures 70% Stake in Nug Avenue, Enters Burgeoning Los Angeles Cannabis Delivery Market
Sugarmade (OTCQB: SGMD), an innovator in the dynamic California cannabis scene, today announced that it is launching a new business initiative for the licensed delivery of cannabis products to consumers in the Los Angeles metropolitan area. Through a definitive agreement that closed on Feb. 8, 2021, the company has acquired a 70% stake in the Lynwood, California, operations of Nug Avenue, a California corporation. “We strongly believe the LA delivery market is the prime spot for expansion of our business,” said Sugarmade CEO Jimmy Chan. “California is the world’s sixth-largest economy, and LA County is by far the most significant driver, with over 25% of the state’s population. The Lynwood, California, site is optimal, as it is located along one of the major distribution freeways, allowing drivers to efficiently reach the more than 15 million consumers that live within a 30-mile radius of the new location. We plan to make a big impact on the LA cannabis delivery marketplace.”
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), an innovator in the dynamic California cannabis scene, today announced that it is launching a new business initiative for the licensed delivery of cannabis products to consumers in the Los Angeles metropolitan area. Through a definitive agreement that closed on Feb. 8, 2021, the company has acquired a 70% stake in the Lynwood, California, operations of Nug Avenue, a California corporation. “We strongly believe the LA delivery market is the prime spot for expansion of our business,” said Sugarmade CEO Jimmy Chan. “California is the world’s sixth-largest economy, and LA County is by far the most significant driver, with over 25% of the state’s population. The Lynwood, California, site is optimal, as it is located along one of the major distribution freeways, allowing drivers to efficiently reach the more than 15 million consumers that live within a 30-mile radius of the new location. We plan to make a big impact on the LA cannabis delivery marketplace.”
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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