Item 8.01 Other Events.
On March 8, 2017, Directors of Sugarmade Inc., a Delaware
Corporation (the “Company”) approved the cancellation of 9,003,000 common shares in the Company.
Pursuant to a Share Cancellation Agreement dated March
8, 2017 between Mr. Scott Lantz, a former CEO of the Company, and the Company, effective on March 8, 2017, the Board of Directors
(the “Board”) authorized the cancellation of two million (2,259,229) common shares in the Company. Additionally, the
Board authorized the reissuance of 259,229 to Mr. Lantz, which are to be issued on a restricted basis and will be subject to normal
resale holding periods and restrictions.
On March 8, 2017, the Board also authorized the cancellation
of the below listed certificates. The Board has determined these certificates were improperly issued and are therefore cancelled
as of this date.
9536 for 1,500,000 common shares
9537 for 1,500,000 common shares
9538 for 3,000,000 common shares
9537 for 571,000 common shares
9562 for 432,000 common shares