NetworkNewsBreaks – Sugarmade Inc. (SGMD) Issues
Post# of 386
(Total Views: 291)
Posted On: 08/12/2021 4:37:26 PM
NetworkNewsBreaks – Sugarmade Inc. (SGMD) Issues Update on Recent Acquisition of Pivotal Asset
Sugarmade (OTC: SGMD), an emerging leader in the vertically integrated cannabis marketplace based in California, today provided current and prospective shareholders with an update on its recent acquisition, Lemon Glow Company Inc. The acquisition included all of Lemon Glow’s assets, interests, property, and rights, including 640 acres of real estate (the “property”) located in Lake County, California, outside of the Commercial Cannabis Cultivation Exclusion Zones. “We are pleased to report that we have been able to successfully comply with the requirements attached to this acquisition process,” said Sugarmade CEO Jimmy Chan. “Lemon Glow is a pivotal asset in our verticalization process because it represents a large-scale outdoor cannabis cultivation opportunity. The annual potential cultivation yield at the property has been approximated at 4,000 pounds of dry trimmed cannabis flower per acre, per year, which represents approximately 128,000 pounds, or 64 tons, of dry trimmed cannabis flower per year in total. We also stand to benefit from this acquisition because we gain very valuable personnel, including Lemon Glow’s executive team, who will stay on and become core management in our cannabis cultivation, which positions Sugarmade’s grow segment with a top management team with over 30 years of cannabis cultivation experience.”
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 emerging leader in the vertically integrated cannabis marketplace based in California, today provided current and prospective shareholders with an update on its recent acquisition, Lemon Glow Company Inc. The acquisition included all of Lemon Glow’s assets, interests, property, and rights, including 640 acres of real estate (the “property”) located in Lake County, California, outside of the Commercial Cannabis Cultivation Exclusion Zones. “We are pleased to report that we have been able to successfully comply with the requirements attached to this acquisition process,” said Sugarmade CEO Jimmy Chan. “Lemon Glow is a pivotal asset in our verticalization process because it represents a large-scale outdoor cannabis cultivation opportunity. The annual potential cultivation yield at the property has been approximated at 4,000 pounds of dry trimmed cannabis flower per acre, per year, which represents approximately 128,000 pounds, or 64 tons, of dry trimmed cannabis flower per year in total. We also stand to benefit from this acquisition because we gain very valuable personnel, including Lemon Glow’s executive team, who will stay on and become core management in our cannabis cultivation, which positions Sugarmade’s grow segment with a top management team with over 30 years of cannabis cultivation experience.”
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)Sugarmade Inc. (SGMD) Stock Research Links
Scroll down for more posts ▼