Sugarmade in Acquisition
Discussions-Files Disclosure Statement Concerning Upcoming Special
Shareholder Meeting
Monrovia, CA -- August
28, 2018 --
InvestorsHub NewsWire -- via NetworkWire Sugarmade, Inc. (SGMD), one of the largest publicly traded
hydroponics supply companies, today announces the filing
of a disclosure statement
with the Securities & Exchange Commission concerning possible
acquisitions by the Company. Sugarmade has begun formal acquisition
negotiations with two
companies that provide online and retail hydroponic and other
agricultural cultivation supplies.
Mr.
Jimmy Chan, CEO of Sugarmade commented, "The hydroponic supply sector is still
highly fragmented with many of the larger players not
likely to reach public
company liquidity events for the original entrepreneurial teams. We
have entered into talks with at least two of these companies for
acquisition, which we believe will be highly accretive for
common Sugarmade shareholders and
additive to our
already robust top line growth rate. We wanted to publicly disclose
these discussions to ensure that all shareholders have equal access
to our direction, thus our recent public filing."
On
August 21, 2018, the Company filed Schedule 14-A with the
Commission calling for a special shareholder meeting at 750 Royal
Oaks Drive, Monrovia, CA 91016, on October 10, 2018 at 8:00 a.m.,
Pacific Time. The purpose of the meeting is to: 1. To approve an
amendment to the Articles of Incorporation to increase
our authorized capital
300,000,000 common shares to 2,000,000,000 common shares 2.To
approve the adjournment of the Special Meeting, if necessary or
appropriate, to solicit additional proxies; an 3.To transact such
other business as may properly come before the meeting, or any
postponement or adjournment thereof. Management of the Company
believes this shareholder vote is important as a vote in favor of
the increase will allow the Company to facilitate the possible
transactions outlined above.
Sugarmade's filing, referenced above,
can be view at www.sec.gov.
About
Sugarmade, Inc.
(OTC:SGMD):
Sugarmade, Inc. is a product and
brand marketing company investing in products and brands with
disruptive potential. Sugarmade's brands include ZenHydro.com, CarryOutSupplies.com, and BudLife Cannabis Storage Solutions. For more
information on the Company's products, please
visit http://www.Sugarmade.com.
For
inquiries please contact Jimmy Chan at (888) 982-1628
or info@Sugarmade.com.
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.