Major supplier to the growing hydroponic cultivation and
hemp sectors Sugarmade (OTCQB: SGMD) this morning provided an update
on the status of its pending acquisition of hydronic cultivation supplier,
BZRTH, Inc., as well as the status of its investments in Kentucky-based hemp
cultivator, Hempistry, Inc. According to the update, BZRTH, a target
acquisition of the company, completed its audits for previous financial
periods. In addition, Sugarmade has completed the first round of closings
relative to its proposed investments of up to $1,000,000 in privately held
Hempistry, Inc. via its first tranche investment of $190,000. “The closing of
the BZRTH audit provides Sugarmade with several more options for growth and our
recently effective S-1 filing open doors for financing options,” SGMD CEO Jimmy
Chan said in the news release. “We are analyzing several of these options in order
to select the path for greatest shareholder maximization. We are also pleased
to report we have made an initial investment in hemp cultivator Hempistry where
Sugarmade will have a direct participation in the profits from this year’s hemp
crop. Operations in Kentucky are well underway.”
To view the full press release, visit http://ibn.fm/IApqD
About Sugarmade Inc.
Sugarmade, Inc. (OTCQB: SGMD) 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://ibn.fm/SUGAR
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