Sugarmade Secures Cultivation Facility Worth Up to $1.6M in Additional Monthly BudCars Cannabis Delivery Sales
NEW YORK, NY -- June
-- InvestorsHub NewsWire -- Sugarmade,
("Sugarmade", "SGMD", or the "Company"),
Cannabis Delivery Service ("BudCars"), is
excited to announce that
Company is submitting an
Bureau of Cannabis Control to
expand into cannabis cultivation as
part of a strategic plan to partially
process that management strongly believes will
further increase the Company's gross profitability over the
provide a rapid potential
to branded product development.
The Company has already secured a property containing a
indoor premium cannabis cultivation facility located
proximity to its Sacramento BudCars hub.
Jimmy Chan, CEO of Sugarmade,
noted, "BudCars is a high margin, high-growth business. But it will
still benefit from verticalization.
Because we have access to our end-market consumer directly and we
have cultivation expertise and a premium grow facility, an
expansion into cultivation to connect the dots is
clearly advantageous move. In
addition, because BudCars is a rapidly growing distribution
channel, we will have a clear
edge in the marketplace in terms of the capacity
our own branded
cannabis product line."
Based on Company research, the indoor
up to 250 high-quality LED lights, suggesting production
much as 250
premium dried cannabis flower per month.
Based on current data, premium cannabis sells
on average in the
suggesting that the new facility will have the capacity to produce
total output worth as much as $1.6
in new BudCars sales to end-market consumers per
month (over and above current BudCars sales activity), and at a
margin on a per unit basis, given cost savings associated with
vertical farm-to-door operations.
facility is in a 'sweet spot' when it comes to cultivation license
application approvals. We look forward to providing our current and
prospective shareholders with more details on this project,
including an anticipated timeline to initial harvest, in the very
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
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