Sugarmade and Budcars Expand Northern California Cannabis Delivery Reach
February 25 2020 - 8:30AM
InvestorsHub Cannabis NewsWire
Sugarmade
and
Budcars
Expand
Northern
California
Cannabis Delivery Reach
NEW
YORK, NY - February 25, 2020 - InvestorsHub NewsWire -
Sugarmade,
Inc. (OTCQB:SGMD)
("Sugarmade",
"SGMD", or the "Company") and Budcars
cannabis delivery
service, today announce a significant expansion of cannabis
delivery services within the Sacramento
metropolitan area with the communities of Granite Bay, Folsom,
Arden Arcade, Carmichael, Citrus Heights, Orangevale, and
Roseville/Rocklin being added this week.
Sugarmade
and
Budcars
believe several of
the communities that will now be served by
Budcars
are
especially lucrative opportunities due to
a
combination of near-ideal demographics, strong per capita income
growth and easy access to major thoroughfares. Additionally,
several of the wealthiest communities, such as Granite Bay,
Carmichael,
and Folsom are
underserved by other delivery operators. "Several of these new
delivery areas are among the most affluent areas of metropolitan
Sacramento and have some of the highest per capita incomes. We plan
to use these expanded services areas as jumping-off points to
even further expand this Company's delivery reach. We look forward
to supplying these communities with quality cannabis products
delivered directly to the consumer."
"Our
back office team and Budcars's
team
have been working together for the past few weeks
to prepare for the expansion ," commented Jimmy Chan, Chief
Executive Officer of Sugarmade.
Sugarmade
plans
to make 100% of the new investment into Budcars
for
the expansion of operations. In addition to geographic
expansion, Sugarmade
and
Budcars
plan
to enhance operations via strategic vertical integration that will
not only improve operating margins, but also ensure
Budcars
customer's
continue to receive the highest quality products at competitive
prices.
Mr.
Chan continued, "The investment in
Budcars
and
this geographic expansion are just the start of Sugarmade's
moves
into California's regulated cannabis marketplace. With the
significant turmoil in California's cannabis marketplace occurring
over the past year and the resulting industry shakeout,
we are seeing a host of very attractive investment opportunities.
We feel Sugarmade's
capital structure
is conducive to addressing these pending opportunities and we are
in the process of performing due diligence on several. We are
particularly
interested in the many cultivation and retail non-storefront
opportunities that now exist. We hope to soon make several other
investments in these areas."
About
Sugarmade,
Inc.
Sugarmade,
Inc. (OTCQB:
SGMD) is a product and branding marketing company investing in
operations and technologies with disruptive potential. Our Brand
portfolio includes CarryOutsupplies.com,
SugarRush™, and Budcars.com. For more
information please
reference
www.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.
Corporate
Contact:
Jimmy
Chan
+1-(888)-982-1628
info@Sugarmade.com
Corporate Communications:
NetworkWire
(NW)
New
York, New York
www.NetworkNewsWire.com
212.418.1217
Office
Editor@NetworkWire.com
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