NetworkNewsBreaks – Sugarmade Inc. (SGMD) Moves
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Posted On: 07/30/2021 6:05:29 PM
NetworkNewsBreaks – Sugarmade Inc. (SGMD) Moves Closer to Vertically Integrated Cannabis Model
Sugarmade (OTC: SGMD), an innovator in the dynamic California cannabis sector, has made a series of strategic acquisitions to strengthen its positioning in the industry. The company, already a central player in California’s expanding cannabis delivery space, is focused on developing a full farm-to-door vertically integrated cannabis business model. As part of this effort, Sugarmade recently signed a memorandum of understanding to obtain three non-storefront California cannabis licenses from the Los Angeles Department of Cannabis Regulation, as well as corresponding licenses from the California Bureau of Cannabis Control. The combined licenses provide the foundation for the opening of three new Nug Avenue cannabis delivery hubs in the Los Angeles metro area. In addition, Sugarmade recently acquired Lemon Glow Company Inc., along with its assets, interests, property and rights; a key piece of the acquisition included 640 acres of Lake County real estate located outside of the commercial cannabis cultivation exclusion zones. “This step brings us closer to closing the loop on what we believe to be one of the most promising vertically integrated cannabis models in the thriving California market,” a recent article quoted Sugarmade CEO Jimmy Chan. “We are setting the stage to improve margins while expanding end-market access, and to grow, refine, produce, distribute, sell, and home-deliver top cannabis products in the largest and fastest growing cannabis market on the planet. This acquisition positions us to achieve that objective with a significant capacity to scale as demand for our products and services grows over time.”
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 (OTC: SGMD), an innovator in the dynamic California cannabis sector, has made a series of strategic acquisitions to strengthen its positioning in the industry. The company, already a central player in California’s expanding cannabis delivery space, is focused on developing a full farm-to-door vertically integrated cannabis business model. As part of this effort, Sugarmade recently signed a memorandum of understanding to obtain three non-storefront California cannabis licenses from the Los Angeles Department of Cannabis Regulation, as well as corresponding licenses from the California Bureau of Cannabis Control. The combined licenses provide the foundation for the opening of three new Nug Avenue cannabis delivery hubs in the Los Angeles metro area. In addition, Sugarmade recently acquired Lemon Glow Company Inc., along with its assets, interests, property and rights; a key piece of the acquisition included 640 acres of Lake County real estate located outside of the commercial cannabis cultivation exclusion zones. “This step brings us closer to closing the loop on what we believe to be one of the most promising vertically integrated cannabis models in the thriving California market,” a recent article quoted Sugarmade CEO Jimmy Chan. “We are setting the stage to improve margins while expanding end-market access, and to grow, refine, produce, distribute, sell, and home-deliver top cannabis products in the largest and fastest growing cannabis market on the planet. This acquisition positions us to achieve that objective with a significant capacity to scale as demand for our products and services grows over time.”
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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