On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

Sugarmade Inc.’s (SGMD) Acquisition Strategy Moves Company Closer to Realizing Full Farm-to-Door Model

  • Most recently SGMD signed MOU to obtain three non-storefront California cannabis licenses.
  • Sugarmade plans to open three new Nug Avenue cannabis delivery hubs in the Los Angeles metro area.
  • In May, the company completed the acquisition of Lemon Glow Company Inc., along with all of its assets, interests, property and rights.

In a series of strategic acquisitions, Sugarmade Inc. (OTC: SGMD) has strengthened its position as a growing presence in the California cannabis sector. The company, which is currently a central player in the state’s expanding cannabis delivery space, is focused on developing a full farm-to-door vertically integrated cannabis business. 

In the company’s most recent move, Sugarmade signed a memorandum of understanding to obtain three non-storefront California cannabis licenses from the Los Angeles Department of Cannabis Regulation, along with corresponding licenses from the California Bureau of Cannabis Control (https://cnw.fm/rSPwN). Combined, the licenses provide the foundation for the opening of three new Nug Avenue cannabis delivery hubs in the Los Angeles metro area; Sugarmade currently owns a 70% stake in NUG Avenue, a cannabis delivery service based in southern California that offers hand-selected, top-shelf cannabis products.

“Our first Nug Avenue location has been a tremendous success, but we need to expand due to overwhelming demand,” said Sugarmade CEO Jimmy Chan. “Holding these licenses will provide an optimal solution to our current growth limitations. By using these licenses to cover manufacturing, distribution and delivery, we hope to further develop our fully vertical approach to the dynamic California cannabis delivery market. With this agreement, we gain the potential to manufacture and package our own cannabis products, distribute them to multiple Nug Avenue locations, and then deliver them right to the front door of our loyal customer base, driving both top-line and bottom-line growth potential as we expand our footprint in this rapidly growing space.”

Just a month earlier, in May, Sugarmade completed the acquisition of Lemon Glow Company Inc., along with all of 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 (https://cnw.fm/0MwS5). According to the company, 32 acres of the property have already been designated for outdoor cannabis cultivation, and the annual potential cultivation yield at the property is estimated to be approximately 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.

“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,” said 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.”

Sugarmade Inc. is a product and branding marketing company investing in operations and technologies with disruptive potential. In addition to its financial interest in the BudCars brand, SGMD’s brand portfolio includes NUG Avenue, CarryOutsupplies.com and SugarRush(TM). 

To learn more about Sugarmade, please visit 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/SGMD

About CannabisNewsWire

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 instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

Archives

Select A Month

Official NewsWire Relationships

Benzinga Cannabis Capital Conference Cannabis Business Summit & Expo 2019 Cannabis Drinks Expo Cannabis World Congress & Business Exposition MjMicro Conference New England Cannabis Network O'Cannabiz Conference & Expo USA CBD Expo

CannabisNewsWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Doge Coin

Dogecoin

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 303.498.7722