Sugarmade to Become The World's Largest
Publicly Traded Cannabis Industry Supply
Company
City of Industry, CA -- December 18, 2017 -- InvestorsHub
NewsWire -- Sugarmade, Inc. (OTCQB:SGMD)
is pleased to announce to its investors and to the growing cannabis
marketplace, the creation of the industry's largest publically
traded cannabis and hydroponics supply company. Sugarmade has
completed a master market agreement with industry leader, BizRight
Hydroponics, Inc., a highly successful manufacturer and distributor
to the hydroponics and cannabis markets. BizRight is expected to
produce in excess of $30 million in revenues during 2017, with
substantial growth expected for 2018. Sugarmade expects to provide
detailed revenue guidance to its investors over the coming
weeks.
"We plan to grow Sugarmade right along side the booming legal
cannabis sector and this agreement with BizRight, which has been
one of the fastest growing companies in this sector, moves
Sugarmade and its investors much closer to this goal," commented
Mr. Jimmy Chan, Sugarmade's CEO. "The implementation of this
agreement will easily make Sugarmade one of the largest players in
this growing marketplace. As California, and other state markets
open up, we see a major opportunity to substantially grow our
business operations."
As part of the agreement, Sugarmade will compensate the owners
of BizRight cash and Sugarmade common shares depending on revenue
gained through the master marketing agreement. The full "earn out"
of shares to be issued to the owners of BizRight will be obtain
based on annualized revenues from the agreement of $30 million.
Sugarmade is in process of significantly increasing its financial,
accounting and managerial staffs in order to manage the expected
significant increase in orders and transactions, and to manage
future acquisitions within the cannabis sector, which are currently
contemplated. Additionally, the Company will be acquiring
additional office and warehouse space to accommodate expected order
flow.
Mr. Chan continued, "It is an exciting time to be involved in
this industry and we are certainly looking forward to the opening
of California recreational marketplace, which should further boost
our business. With Sugarmade and BizRight both being located in San
Gabriel Valley, which is just outside of Los Angeles, we believe
there are many other opportunities for our companies to work
together. To this end, we have also acquired an option to buy the
entire BizRight operation in the future."
BizRight Hydroponic, Inc. is a leading marketer and manufacturer
of cannabis and hydroponic growth supplies, which offers a range
of hydroponics-related products including: HPS grow lights,
electronic ballasts, HPS Bulbs, nutrient mixes, environmental
control products, pH measurement and calibration solutions and
other cannabis-related grow and storage products. BizRight operates
the ZenHydro.com website and other e-commerce properties, and sells
various products to distributors and retailers.
Please reference the recent full disclosure regarding this
agreement recently filed by Sugarmade, which is available at
www.sec.gov. Additional information can be seen
at www.Sugarmade.com and www.Zenhydro.com
About Sugarmade, Inc. (OTCQB:SGMD)
Sugarmade, Inc. is a product and brand marketing company
investing in products and brands with disruptive potential.
Sugarmade's brands include BizRight, CarryOutSupplies.com, BudLife
Cannabis Storage Solutions, CaliGrownSupplies.com, and Sriracha
Seasoning Stix, a revolutionary culinary seasoning product. For
more information on the Company's products, please visit www.Sugarmade.com.
For inquiries please contact Jimmy Chan at (888) 982-1628 or
info@Sugarmade.com.
FORWARD-LOOKING STATEMENTS: This release contains
"forward-looking statements" within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements also may be included in other
publicly available documents issued by the Company and in oral
statements made by our officers and representatives from time to
time. These forward-looking statements are intended to provide
management's current expectations or plans for our future operating
and financial performance, based on assumptions currently believed
to be valid. They can be identified by the use of words such
as "anticipate," "intend," "plan," "goal," "seek," "believe,"
"project," "estimate," "expect," "strategy," "future," "likely,"
"may," "should," "would," "could," "will" and other words of
similar meaning in connection with a discussion of future operating
or financial performance. Examples of forward looking
statements include, among others, statements relating to future
sales, earnings, cash flows, results of operations, uses of cash
and other measures of financial performance.
Because forward-looking statements relate to the future, they
are subject to inherent risks, uncertainties and other factors that
may cause the Company's actual results and financial condition to
differ materially from those expressed or implied in the
forward-looking statements. Such risks, uncertainties and other
factors include, among others such as, but not limited
to economic conditions, changes in the laws or regulations,
demand for products and services of the company, the effects of
competition and other factors that could cause actual results to
differ materially from those projected or represented in the
forward looking statements.
Any forward-looking information provided in this release should
be considered with these factors in mind. We assume no obligation
to update any forward-looking statements contained in this
report.