Sugarmade (OTCQB: SGMD), a major supplier to the growing
hydroponic cultivation sector, is expected to profit from cannabis banking
legislation if it is approved by Congress. A recent article discussing the
legislation reads, “The lack of banking services has led the cannabis
enterprises to transact finances, including corporate taxes, in sometimes large
sums of cash that can’t be legally mailed and have to be carried to their
destinations, creating fears of heightened criminal vulnerability as the cash
is moved. However, the new Congressional measures would block federal agencies
from being able to ‘prohibit, penalize, or otherwise discourage a depository
institution from providing financial services to a cannabis-related legitimate
business or service provider or to a State, political subdivision of a State,
or Indian Tribe that exercises jurisdiction over cannabis-related legitimate
businesses,’ if the bills are approved (http://ibn.fm/ynznc). . . . Such a law would allow growers
to establish secured lines of credit, use electronic cards and become better
business partners — all without having to worry about safeguarding cash
transfers with every company with which they do business.”
To view the full article, visit http://ibn.fm/jvx3H
About Sugarmade Inc.
Sugarmade Inc. is a product and brand marketing company
investing in products and brands with disruptive potential. Sugarmade’s brands
include Zenhydro.com, AthenaUnited.com, CarryOutSupplies.com and
BudLife Cannabis Storage Solutions. 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://ibn.fm/SUGAR
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www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
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