Sugarmade (OTC: SGMD) subsidiary SugarRush has signed a management services agreement (“MSA”) with Canndis Inc., a California cannabis micro-license holder. The MSA outlines an expansion for the company’s manufacturing and distribution operations based on Canndis’ license, which includes delivery, manufacturing, distribution and cultivation capabilities. The MSA calls for Sugarmade to take over cannabis product manufacturing, distribution, delivery licensing and facility management ahead of Canndis’s first harvest at its Jerusalem Grade Farm; the farm is licensed for 43,560 square feet of outdoor canopy area and is growing at full capacity this season. According to the announcement, the MSA provides for the establishment of a new strategically located manufacturing and distribution hub. Sugarmade is an emerging leader in the licensed cannabis sector. “This deal will provide us with a new income stream as we apply our expertise and experience to mobilize Canndis’ assets and market positioning,” said Sugarmade CEO Jimmy Chan in the press release. “But it also has substantial strategic value because it lays a foundation for a significantly expanded manufacturing and distribution infrastructure under our control when we harvest our first crop in two months.”
To view the full press release, visit https://ibn.fm/SHuhL
About Sugarmade Inc.
Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s brand portfolio includes CarryOutsupplies.com, SugarRush(TM), NUG Avenue, J Grade Farm, Lemon Glow and Budcars. For more information about the company, 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://ibn.fm/SUGAR
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