Sugarmade
CEO: The On-Demand Economy is Headed to the Cannabis Sector - It's
Where We Want to Play
NEW YORK, NY -- January 29, 2020 -- InvestorsHub NewsWire
-- Sugarmade,
Inc. (OTCQB:SGMD)
("Sugarmade", "SGMD", or the "Company"), today announces a new and
bold shift in its business strategy toward the virtualization of
the cannabis sector as part of the major shift in the U.S. business
model toward an on-demand economy. Sugarmade will be making
several strategic moves over the coming weeks as it launches
on-demand and related business operations via internally developed
initiatives and via new relationships with proven sector business
operators.
The on-demand economy is shifting power from business toward
consumers, who are increasingly demanding goods and services on
their own terms with a growing expectation for near-term
gratification. No longer are consumers reliant on the
traditional supply chain model, but instead are able to order
numerous products and services with delivery in a matter of
hours. This desire for instant access to products and
services is now reaching the regulated cannabis market sector and
many expect the sector to never be the same. In a radical
shift in its business model, Sugarmade will be part of the
on-demand revolution sweeping the regulated cannabis
industry.
"Things are changing in society and in the economy as
virtualization proliferates. Many of the most dynamic and
innovative growth companies are part of this on-demand revolution
and it is our goal to ensure Sugarmade is an important component of
these trends. We see the acceleration of on-demand services
within the cannabis sector and we believe it is the most lucrative
area for us to pursue," commented Jimmy Chan, CEO of
Sugarmade. "We have radically changed our business model via
internally developed initiatives and through upcoming relationships
with established sector participants. Our investors should
stay tuned for our new business model to develop over the coming
weeks."
For the past year, Sugarmade has observed numerous changes in the
cannabis industry, many of which have been painful for sector
participants. Several subsectors have
collapsed and the Company believes several others are headed into
troubled waters. Sugarmade plans to capitalize on its
observations and on its staff's extensive industry contacts to
evolve the corporate business operation to not only survive the
current industry turmoil but to also thrive. Targeting the
on-demand
trend in the regulated cannabis sector will be a major component of
the Company's future.
Sugarmade sees opportunities in business operations that combine
the best areas of on-demand consumer distribution with certain
areas of synergistic manufacturing and packaging to create a
business model that capitalizes on the many changes in the cannabis
industry. The Company has made agreements with several market
participants, which will be announced over the coming weeks.
The Company views these opportunities as very scalable and capable
of producing strong revenue growth for the Company.
Mr. Chan continued, "The opportunities we have negotiated are with
established operations, which will allow us to begin revenue
generation over the short term. Additionally, we have several
internally developed programs that will add a new and unique spin
to the existing cannabis distribution model. We plan to
inform our investors of these actions over the coming weeks as we
solidify these opportunities."
About Sugarmade, Inc.
Sugarmade, Inc. (OTCQB:
SGMD) is a product and branding marketing company investing in
operations and technologies with disruptive potential. More
information on Sugarmade can accessed at
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:
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