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. The Company believes such a disclosure may be required under Regulation FD Disclosure.
On August 21, 2018, the Company issued a press release
announcing the following in part:
Inc. (OTC: SGMD), one of the largest publicly traded hydroponics supply companies, today announces a new corporate initiative in
the booming hemp market. Sugarmade is committing up to $1,0000,000 in capital over the next twelve months to invest
in Hempistry, Inc. a privately held Nevada corporation,...”
The press release announcement was an inadvertent error
with regards to the amount of money the Company is committing. The press release indicated an amount (that can be construed) as
ten million dollars ($1,0000,000). The amount the Company is committing in capital to Hempistry, Inc. is one million dollars ($1,000,000)
in capital over the next twelve (12) months.
Other than the amount of capital being corrected, there
are no other material information announced via press release dated August 21, 2018 that the Company finds necessary to correct