Company management of Sugarmade (OTC: SGMD), a hydroponic supply company, this morning commented on its recent investment into the industrial hemp market as the pending Hemp Bill of 2018 appears to be on the verge of passage and enactment into federal law. The company believes the hemp portion of the farm bill will benefit Sugarmade and its shareholders if it passes. Sugarmade recently announced that it is committing capital to invest in Hempistry, Inc., a privately held Nevada corporation, which has started planting an ultra-high CBD industrial hemp strain in Kentucky. “Cultivation of hemp on the Kentucky site began in early July with even the recent heavy rains not hampering the growth. We are especially excited about the particular strain of hemp that was planted, which is expected to yield up to 14% CBD. Such a strain of product is in significant demand and it is expected that the entire crop will be sold prior to harvest. Our timing on our investment could not have been better considering the pending Farm and Hemp Bills and demand situation, which seems to get tighter almost every day,” Sugarmade CEO Jimmy Chan stated in the news release.
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About Sugarmade, Inc.
Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade’s brands include ZenHydro.com, CarryOutSupplies.com, and BudLife Cannabis Storage Solutions. For more information on the company’s products, please visit www.Sugarmade.com.
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