Sugarmade (OTC: SGMD), an emerging leader in the licensed cannabis sector, last year completed the acquisition of Lemon Glow. The move, according to Sugarmade CEO Jimmy Chan, was part of the company’s efforts to set the stage to improve margins, expand end-market access, and grow, refine, produce, and distribute in the largest and fastest-growing cannabis market on the planet. “The acquisition was designed to position the company to achieve that objective with a significant capacity to scale as demand for California-grown cannabis is expected to increase when federal legalization takes place,” a recent article reads. For the 2022 cannabis cultivation season, Sugarmade is embarking on a new and bold strategy to enter contract arrangements with local Lake County cultivators that have decided not to engage in their own cultivation. This strategy is aimed at offering the company immediate access to the marketplace based on an advantageous cost model. “Invoking this dynamic short-term strategy, while continuing to develop the company’s longer-term strategy to develop the large Lemon Glow property for cultivation, will allow Sugarmade to significantly advance the timeframe for gaining market share in this industry based on a cost model that will allow the company to produce strong margins this cultivation season.”
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About Sugarmade Inc.
Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s portfolio includes CarryOutsupplies.com, SugarRush, NUG Avenue, Lemon Glow and Budcars. For more information, please visit www.Sugarmade.com.
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