Hydroponic supply company Sugarmade, Inc. (OTC: SGMD) this
morning announced the filing of a disclosure statement with the Securities
& Exchange Commission concerning multiple possible acquisitions. Per the
update, Sugarmade has entered into formal acquisition negotiations with two
companies that provide online and retail hydroponic and other agricultural
cultivation supplies. “The hydroponic supply sector is still highly fragmented
with many of the larger players not likely to reach public company liquidity
events for the original entrepreneurial teams,” Jimmy Chan, CEO of Sugarmade,
stated in the news release. “We have entered into talks with at least two of
these companies for acquisition, which we believe will be highly accretive for
common Sugarmade shareholders and additive to our already robust top line
growth rate. We wanted to publicly disclose these discussions to ensure that
all shareholders have equal access to our direction, thus our recent public
filing.”
To view the full press release, visit http://ibn.fm/Linfi
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, CarryOutSupplies.com and BudLife Cannabis Storage
Solutions. For more information, visit the company’s website at www.Sugarmade.com
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