While the huge increase in U.S. consumer demand from hemp extracts and hemp product is largely credited as the reason for the boom in the number of hemp acres under cultivation, there is a significant additional part of the hemp-growth story to tell.
With a pending acquisition in the cultivation supply market, Sugarmade Inc. (OTCQB: SGMD) (SGMD Profile) appears to be well poised to become a strong pick-and-shovel provider to the hemp industry. Even the large cultivators and suppliers are now getting in the hemp market. One of the first companies of the larger players to make the move into hemp cultivation was Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), which just a few days ago announced that it would invest $300 million to enter the hemp market. Not to be outdone in the hemp gold rush, Greenlane Holdings Inc. (NASDAQ: GNLN), which began trading on the NASDAQ, and The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF) (TGOD Profile) have both entered the fray. KushCo Holdings Inc. (OTCQX: KSHB), another industry supplier, is also seeming to benefit for the strong growth in the hemp marketplace.
To view the full editorial, visit http://cnw.fm/qB903
About Sugarmade Inc.
Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company is becoming a leading supplier to the growing hemp and cannabis industries as a non-plant touching provider of cultivation and processing supplies to industry players. The company is in the process of acquiring several leading hemp and cannabis supply companies that are currently producing in excess of $70 million in annual revenues. Sugarmade is also an investor in fast growing Hempistry, Inc., a Kentucky-based cultivator and processor of industrial hemp and hemp distillates and isolates, and operates Carryoutsupplies.com a leader provider to the quick service restaurant industry. For more information, visit the company’s website at www.Sugarmade.com.
NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SUGAR
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.CannabisNewsWire.com
Do you have questions or are you interested in working with CNW? Ask our Editor
CannabisNewsWire is part of the InvestorBrandNetwork.