Sugarmade (OTCQB: SGMD), a major supplier to the hydroponic cultivation and hemp sectors, today provided a strategic update as it advances plans to uplist to a major U.S. exchange while moving toward another targeted acquisition. According to the update, Sugarmade management expects the company to be on track to reach in excess of $65 million in annualized revenues based on its strategy. “We have an ambitious plan to create a viable path toward another major acquisition while extending our stepwise climb onto a major U.S. exchange listing as we continue to expand operations in a rapidly growing market,” Sugarmade CEO Jimmy Chan said in the news release. “The key steps that will facilitate this evolutionary process are a 14C filing and leveraging our superior market positioning in current and forthcoming negotiations, both of which are readily accessible and attainable ideas.”
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About Sugarmade, Inc.
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 hydroponic 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 of industrial hemp, and operates Carryoutsupplies.com a leader provider to the quick service restaurant industry. For more information, visit the company’s website at www.Sugarmade.com.
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