NetworkNewsBreaks – Sugarmade Inc. (SGMD) Announ
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Posted On: 03/30/2022 4:02:48 PM
NetworkNewsBreaks – Sugarmade Inc. (SGMD) Announces Expansion of Cannabis Delivery Business, New Distribution Model with Dining Partnership
Sugarmade (OTC: SGMD), an emerging leader in the vertically integrated cannabis marketplace based in California, has signed two definitive agreements designed to expand the company’s footprint. One of the agreements establishes SGMD’s majority ownership in a fully licensed new Hollywood cannabis delivery hub on Strip as well as a minority stake in an expanding reservation-only restaurant brand that offers a private event space that allows cannabis consumption. The announcement also noted that SGMD will have majority ownership in a brand-new cannabis retail distribution hub offering delivery in the affluent neighborhoods of the West Hollywood Hills. Sugarmade also inked a deal with Boulevard Hospitality Group (“BHG”), which operates Yamashiro, a well-known century-old Hollywood Hills restaurant; the agreement notes that Sugarmade will be its first-choice cannabis provider of cannabis for planned expansion into cannabis-only venues.“This investment lands us on the ground floor of a new concept for cannabis distribution in the world’s biggest cannabis marketplace,” said Sugarmade CEO Jimmy Chan in the press release. “Through these agreements, we are simultaneously adding a new cannabis end market with future growth potential, doubling our delivery coverage in the LA metro area, and creating a new and more diversified revenue profile. We believe all of these steps represent strong potential drivers for shareholder value.”
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, has signed two definitive agreements designed to expand the company’s footprint. One of the agreements establishes SGMD’s majority ownership in a fully licensed new Hollywood cannabis delivery hub on Strip as well as a minority stake in an expanding reservation-only restaurant brand that offers a private event space that allows cannabis consumption. The announcement also noted that SGMD will have majority ownership in a brand-new cannabis retail distribution hub offering delivery in the affluent neighborhoods of the West Hollywood Hills. Sugarmade also inked a deal with Boulevard Hospitality Group (“BHG”), which operates Yamashiro, a well-known century-old Hollywood Hills restaurant; the agreement notes that Sugarmade will be its first-choice cannabis provider of cannabis for planned expansion into cannabis-only venues.“This investment lands us on the ground floor of a new concept for cannabis distribution in the world’s biggest cannabis marketplace,” said Sugarmade CEO Jimmy Chan in the press release. “Through these agreements, we are simultaneously adding a new cannabis end market with future growth potential, doubling our delivery coverage in the LA metro area, and creating a new and more diversified revenue profile. We believe all of these steps represent strong potential drivers for shareholder value.”
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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