Sugarmade
Announces Corporate Strategy in Preparation
for
Uplist
to Major US Exchange
NEW
YORK, November
18,
2019 -- InvestorsHub NewsWire –
Sugarmade, Inc. (OTCQB:SGMD) ("Sugarmade", "SGMD", or the
"Company"), a major supplier to the hydroponic cultivation and hemp
sectors, is pleased to provide a
strategic update as the Company advances plans
to uplist
to a
major US exchange while moving toward another targeted
acquisition. Based
on the strategy the Company has laid out, management believes
Sugarmade will
be on track to reach excess of $65 million annualized
revenues.
"We
have an ambitious plan to create a viable path toward another major
acquisition while extending our stepwise climb onto a major US
exchange listing as we continue to expand operations in a rapidly
growing market," stated Jimmy Chan, CEO of Sugarmade. "The key
steps that will facilitate this evolutionary process are a 14C
filing and leveraging our superior market positioning in current
and forthcoming negotiations, both of which are readily accessible
and attainable ideas."
Management
notes that, in accordance with these plans, the Company has
submitted a Schedule 14C Filing for a reverse split of its equity
to establish SGMD stock above $4/share. Along with its aggressive
organic expansion and recent M&A activity, this combination
should qualify the Company for a Nasdaq listing.
Following
its acquisition of BZRTH, Inc. ("BZRTH") last month, the Company is
continuing to aggressively roll-up a dominant position in the $24
billion hydroponics space. Sugarmade is currently engaged in
negotiations involving another major acquisition. The
Company will
update shareholders and interested potential investors as events
transpire.
Mr.
Chan
continued,
"We understand
that reverse
stock splits are
usually
viewed
negatively because they generally happen in response to serious
problems with a publicly traded company. But they can also be part
of a strategic plan that is tethered to strong
future
growth and
expanding shareholder value. In
this case, we are dealing with the latter case. The move will
enable Sugarmade to generate immense
amount of
new shareholder value through both expanded operations and better
terms in accessing new investment
markets."
About
Sugarmade, Inc.
Sugarmade,
Inc. (OTCQB: SGMD) is a product and branding
marketing company investing in operations and technologies with
disruptive potential. The Company is becoming a leading supplier to
the growing hemp industry and is benefitting from the growth of the
hydroponic marketplace. The Company is in the process of acquiring
several leading hydroponic and agricultural supply companies that
are currently producing in excess of $70 million in annual
revenues. Sugarmade is also an investor in fast growing
Hempistry,
Inc., a Kentucky-based cultivator,
operates
Zenhydro.com
a leading supplier to the Online Hydroponic Market and
Carryoutsupplies.com
a leader provider to the quick service restaurant
industry.
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.
Corporate
Contact:
Jimmy
Chan
+1-(888)-982-1628
info@Sugarmade.com
Press &
Media Inquiries:
EHC Branding
Agency
Info@EHCBrandingAgency.Com
(626)
MJ-BRAND