CannabisNewsBreaks – Sugarmade Inc. (SGMD) Signs LOI to Acquire Cultivation Company
Sugarmade (OTC: SGMD) has signed a letter of intent (“LOI”) regarding the acquisition of California-based Lemon Glow Company Inc., along with all the company assets, interests, property and rights; included in the planned acquisition is 640 acres of property located in Lake County, outside of the Commercial Cannabis Cultivation Exclusion Zones. The LOI stipulates that 32 acres of the property have been designated for outdoor cannabis cultivation, with an annual potential cultivation yield of approximately 4,000 pounds of dry trimmed cannabis flower per acre, for a total estimated production of 128,000 pounds of dry trimmed cannabis flower per year. According…