Licensed Cannabis Cultivation in Northern California
2020 -- InvestorsHub NewsWire – Sugarmade, Inc.
SGMD) [PLW1][NP2] ("Sugarmade"
or the "Company") is excited
signing of a
non-binding Letter of Intent (the "LOI") with LMK Capital, LLC
LMK have agreed to work toward the
negotiation of a definitive lease agreement for
access to as
much as 40 acres
of property in Northern California.
Company intends to use 5
operate a regulated and licensed cannabis cultivation
of the board,
and majority stockholder,
owner of LMK.
continue to take strategic steps toward broadening
our exposure to the growth trend in the cannabis market,"
see this as a secular growth trend that is still very much in its
early innings. And we
positioning in California puts us close to the current epicenter of
that trend. In addition, we are committed to increasing
verticalization of operations as a context for our
in the BudCars
delivery business. If
we are able to finalize the lease, we expect that this could
a substantial widening of margins on the growing volume of BudCars
40% stake in BudCars,
with the option to acquire an additional 30%. Because
rapidly growing distribution channel, Sugarmade
have a direct
the marketplace to establish its
branded cannabis product line,
which can then be distributed through multiple distribution
partners at premium pricing.
analysis suggests that control over 5
of this property carries the potential to yield as much as
more than 3,628,700
grams) of cannabis flower per year.
LOI is nonbinding on the parties and there can be no assurance the
parties will enter into a
main business areas: (i)
supply of consumable products to the quick service
restaurant subsector of the restaurant industry, and as an importer
of nonmedical personal protection equipment to business and
consumers, and (ii)
cannabis delivery service brand ("Budcars"
or the "Budcars
ownership and operation of Budcar's
operating location in Sacramento, California. For
more information, visit
STATEMENTS: This press
forward-looking statements within the meaning of the federal
securities laws that involve risks and uncertainties.
Forward-looking statements include statements the Company makes
concerning plans, objectives, goals, strategies, future events,
future revenues or performance, capital expenditures, financing
needs and other information that is not historical information.
When used herein, the words "estimates," "expects," "anticipates,"
"projects," "forecasts," "plans," "intends," "believes,"
"foresees," "seeks," "likely," "may," "might," "will," "should,"
"goal," "target" or "intends" and variations of these words or
similar expressions (or the negative versions of any such words)
are intended to identify forward-looking statements. All
forward-looking statements are based upon information available to
the Company on the date hereof. These forward-looking statements
are subject to risks, uncertainties and other factors, many of
which are outside of the Company's control, that could cause actual
results to differ materially from the results discussed in the
including, among other things, the matters discussed herein. All
forward-looking statements apply only as of the date of this
are expressly qualified in their entirety by the cautionary
statements included herein. The Company undertakes no obligation to
publicly update or revise forward-looking statements to reflect
events or circumstances after the date made or to reflect the
occurrence of unanticipated events, except as required by
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