Item 7.01 Regulation FD Disclosure
Sugarmade Inc., a Delaware corporation (the
“Company”) makes the following disclosures pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934,
generally referred to as Regulation FD Disclosure. Over the coming days, Sugarmade plans to discuss the below items with selected
shareholders and potential investors and is thus making these disclosures in advance of these discussions in order to ensure all
Company stakeholders are privy to this information.
On August 8, 2019, the Company
discloses material information concerning its proposed acquisition BZRTH, LLC (“BZRTH”) (the “BZRTH Acquisition”).
On July 25, 2019, the Company announced BZRTH had completed its audit and that such completion was material to the overall process
of closing on the BZRTH acquisition, with the closing of the audit being required for the closing of the BZRTH acquisition. As
of August 8, 2019, the Company is announcing it is now prepared to complete the first closing of the BZRTH Acquisition.
On August 8, 2019, the Company
announced its plans to call a Special Meeting of shareholders to elect new directors of the Company, including at least two independent
directors who have no “material relationship” to the Company, as defined by national stock exchanges. Chairman, Jimmy
Chan, in accordance with the Bylaws of the Company, plans to call for the Special Meeting to elect new directors in order to provide
the Company with requirements, including requirements for independent directors, as outlined by these national exchanges. Chairman
Chan and the board will inform shareholders of the date of the special meeting in a timely manner.
FORWARD-LOOKING STATEMENTS: This
filing 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. At this time there are no assurances the Company’s
acquisition efforts will be successful.