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NetworkNewsBreaks – Sugarmade, Inc. (SGMD) Announces Plans to Expand into Cannabis Cultivation in Verticalization of BudCars Model

Company: Sugarmade Inc. (SGMD)
Category: News

Sugarmade (OTCQB: SGMD), together with its BudCars Cannabis Delivery Service (“BudCars”), today announced that the Company is submitting an application to the California Bureau of Cannabis Control to expand into cannabis cultivation as part of a strategic plan to partially verticalize its BudCars model, a process that management strongly believes will further increase the Company’s gross profitability over the long-term and provide a rapid potential path to branded product development. According to the update, the Company has already secured a property containing a 5,000 square-foot indoor premium cannabis cultivation facility located in very close proximity to its Sacramento BudCars hub. “BudCars is a high margin, high-growth business. But it will still benefit from verticalization,” Sugarmade CEO Jimmy Chan said in the news release. “Because we have access to our end-market consumer directly and we have cultivation expertise and a premium grow facility, an expansion into cultivation to connect the dots is a clearly advantageous move. In addition, because BudCars is a rapidly growing distribution channel, we will have a clear edge in the marketplace in terms of the capacity to establish our own branded cannabis product line.”

To view the full press release, visit http://nnw.fm/53eCd

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Its Brand portfolio includes CarryOutsupplies.com, SugarRush(TM) and Budcars.com. For more information, please reference www.Sugarmade.com.

NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://nnw.fm/SUGAR

About NetworkNewsWire

NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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