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Sugarmade, Inc. (SGMD) Signs $40 Million Definitive Agreement to Acquire Sky Unlimited

  • Sugarmade invests in products and brands with considerable revenue potential
  • The company is moving ahead into the industrial hemp space
  • Sugarmade recently announced the signing of a binding Definitive Agreement to acquire Sky Unlimited, LLC

Sugarmade, Inc. (OTCQB: SGMD) is a product and brand marketing company based in Monrovia, California. It invests in products and brands with disruptive potential and focuses on growth via brand expansion and acquisition. The company has diverse business operations in varied marketplaces. These include packaging and paper goods for different industries, as well as agricultural supplies. The company’s brands include ZenHydro.com, CarryOutSupplies.com, BudLife, Cannabis Storage Solutions and Cali Grown Supplies.

Sugarmade is also a supplier of generic and custom printed products to the QSR (Quick Service Restaurant) sub-sector of the restaurant industry. However, its new primary focus is advancing into the industrial hemp space. The company’s main concentration is now on the supply of hydroponic and other cultivation systems, with a specific emphasis on the cannabis industry. Regarding industrial hemp and cannabidiol, Sugarmade is working to become a significant player in the cannabis cultivation market as a supplier.

BitCanna notes that the global spending forecast for legal cannabis is set to rise exponentially (http://cnw.fm/yiqX1). BitCanna states that, “Total spending throughout the industry in 2019 is predicted to be $24.4 billion. These numbers are set to rise to $29.5 billion in 2020, $35.8 billion in 2021, $43.3 billion in 2022, $52.5 billion in 2023, and $63.5 billion in 2024.” Nevertheless, concentrating on being a supplier, Sugarmade will not directly engage in the cultivation, processing, distribution or marketing of cannabis.

Sugarmade has its strategic investment in Hempistry, Inc. It has committed to provide investment capital of up to $1 million over a 12-month period to Hempistry (http://cnw.fm/Lx7CM). Hempistry’s operations center on the cultivation of an ultra-high cannabidiol industrial hemp strain that contains under 0.3 percent THC (tetrahydrocannabinol).

Sugarmade’s plan is to enter into a cultivation agreement with Hempistry to advance additional revenue opportunities. Sugarmade has started planting an ultra-high cannabidiol industrial hemp strain on over 100 acres in Kentucky. Moreover, the company has signed an exclusive agreement that guarantees its rights to premier farmland encompassing 23,000 acres to grow this valued crop.

Sugarmade has now announced the signing of a binding definitive agreement to acquire Sky Unlimited, LLC (http://cnw.fm/F8wtH). The company states that it expects this acquisition to be highly accretive to common shareholder value. It has increased its calendar 2019 revenue guidance from $30 million to $70 million. With this definitive agreement, Sugarmade will assume all operations, brand assets, customers and liabilities of Sky Unlimited. In addition, it will retain all employees.

Sky Unlimited, by way of its AthenaUnited.com operations and website, provides numerous hydroponic brands to a number of growing agricultural cultivation sectors. The majority of Sky Unlimited’s revenues come from the wholesale market and through commercial operations.

In a news release, Jimmy Chan, chief executive officer of Sugarmade, said, “Sky Unlimited and Athena are complementary to our existing business operations allowing us to not only increase our emphasis on brands, but also to diversify our revenue streams to now include the larger commercial cultivation operations.”

Sugarmade is one of the largest publicly traded hydroponics supply enterprises. It continues to focus on providing value for its stakeholders by using its expertise in acquiring and growing unique products and brands. Its value to its customers, employees and shareholders lies in its dedication to expanding its operations across cultivation sectors.

For more information, visit the company’s website at www.Sugarmade.com

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