Exercise Option to Acquire BZRTH,
LLC Further Expanding its Presence in
MONROVIA, CA -- February 6,
2019 -- InvestorsHub NewsWire -- Sugarmade, Inc. (OTCQB:
SGMD), a major supplier to the growing hydroponic cultivation
sector, today announces its exercise of an option to acquire
BZRTH, LLC. Under the terms of the
exercise and upon closing, all BZRTH revenues will be reported
through Sugarmade significantly further boosting
base. The acquisition is expected to
be highly accretive for common shareholders.
Mr. Jimmy Chan, CEO of
Sugarmade commented, "BZRTH is a sister company of
BizRight, LLC. During December of 2017,
Sugarmade and BizRight signed a Master Marketing
Agreement where BizRight's products would be sold by
Sugarmade. We recently modified that agreement to include
BZRTH. Our exercise of our option to
fully acquire these businesses will allow us to now realize full
revenue recognition, boosting our top line growth rate very
significantly. We will retain the entire staff of employees, who we
warmly welcome to the Sugarmade family."
This acquisition option
exercise comes on the heels of recent announcements that Sugarmade
would acquire Athena United, a specialist company providing
hydroponic supplies to large commercial cultivators, and the
announcement of its intention to acquire Washington state
hydroponic supplier Hydro4Less. Athena United is expected to
produce approximately $40 million in annual revenues and the single
Hydro4Less for location approximately $5 million annually. In
addition, relative the Hydro4Less acquisition, Sugarmade acquired
an option to acquire two additional locations, which are expected
to produce in excess of $20 million annually.
Mr. Chan commented further,
"Sugarmade plans to integrate these businesses fully as soon as is
possible, making us one of the larger suppliers to this growing
marketplace. Additionally, we are in process
of vetting other possible acquisitions to further enhanced of the
portfolio of hydroponic and cultivation supply products. We are
certainly excited about our prospects for the remaining part of
this year and into next year."
About Sugarmade, Inc. (OTCQB:
SGMD): Sugarmade, Inc. is a product and brand marketing company
investing in products and brands with disruptive potential.
CarryOutSupplies.com, and BudLife Cannabis Storage Solutions. For
more information on the Company's products, please visit
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
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officers and representatives from time to time. These
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current expectations or plans for our future operating and
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similar meaning in connection with a discussion of future operating
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include, among others, statements relating to future sales,
earnings, cash flows, results of operations, uses of cash and other
measures of financial performance.
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
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.
please contact Jimmy Chan at (888)982-1628 or