Sugarmade
and
Hempistry
Commence Hemp Cultivation in Kentucky
MONROVIA,
CA -- August 1, 2019 -- InvestorsHub NewsWire
-- Sugarmade,
Inc. (OTCQB:
SGMD), a major supplier to the growing
hydroponic
cultivation and hemp sectors, today announces commencement of hemp
cultivation in conjunction with
Hempistry,
Inc., of Madisonville, Kentucky. Sugarmade
recently
announced is
had
begun
to exercise its investment option in the Kentucky hemp
cultivator. The hemp being cultivated this year by
Hempistry
is
a
fast
growing strain that is especially rich in cannabidiol
(CBD).
The farm is located in Madison
County,
Kentucky.
Sugaramade
is not
only directly investing in the Hempistry
operation,
but
it
is
also increasing its commitment to become a leading supplier to hemp
cultivators across the country. Nowhere
is
this commitment stronger than within the state of Kentucky,
which now
leads the nation
in the number of acres under cultivation.
A major component of this expanding commitment is the pending
acquisition of leading cultivation supplier BZRTH.
Sugarmade
announced
earlier this week that
BZRTH
had
completed its audits
for
previous financial periods, which was a major requirement for
acquisition closure.
"Our
investment
in Hempistry,
our
commencement
to the
state of Kentucky and
our pending acquisition of BZRTH provide
Sugarmade
with
multiple
options for
growth, while our recently effective S-1 filing expands our
ability
to finance the many initiatives in front of the Company,"
commented
Company CEO, Jimmy
Chan. "We
wish Hempistry
well
in their efforts this season."
About
Sugarmade,
Inc.
(OTC:
SGMD): Sugarmade, Inc. (OTCQB:
SGMD) is a product and branding marketing company investing in
operations and technologies with disruptive potential. The Company
is becoming a leading supplier to the growing hemp industry and is
benefitting from the growth of the cannabis marketplace.
The Company is in the process of acquiring several leading
hydroponic and
agricultural supply companies that are
currently producing in excess of $70 million in annual
revenues. Sugarmade is also an investor in fast
growing Hempistry, Inc., a Kentucky-based
cultivator and processor of industrial hemp and hemp distillates
and isolates, and operates Carryoutsupplies.com a leader provider
to the quick service restaurant industry.
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.
For inquiries, please
contact:
Jimmy
Chan
+1-(888)-982-1628
info@Sugarmade.com