Sugarmade, Inc. (OTC: SGMD) today announces the purchase of international paper contracts from Bao Coc International Paper and Plastics Limited, located in Vietnam. Under the terms of the asset purchase agreement, Sugarmade will assume contracts for international paper products bound for delivery into the U.S. Sugarmade estimates the acquisition will boost its revenue production by approximately $500,000 to $600,000 annually. Sugarmade also expects the deal to have a significantly positive impact on other portions of its business operations. Read this and more news for SGMD at: http://marketnewsupdates.com/news/sgmd.html
"These contracts are important not only relating to the revenue boost we will receive, but also relating to cost reductions across our product lines. Because Bao Coc ships dozens of containers into the U.S. each year, we will be able to combine transpacific shipping contracts, which will reduce freight charges relating to our other products, commented, Jimmy Chan, CEO. "This is especially important relative to our new CannaShroud cannabis transport system, the components of which are manufactured in Asia. The significant reductions in freight charges will allow Sugarmade to be even more competitive in the marketplace and will allow us to further boost our already expanding gross margins." Sugarmade expects the asset acquisition to close in the month of December. The Company will issue Bao Coc five million restricted shares in exchange for assumption of the Bao Coc contracts.
In other sector/industry news and developments:
Green Cures & Botanical Distribution, Inc. (OTC: GRCU) announced this week that the Fifth Annual MMJ Convention in Las Vegas was a great success for the company that drew over 10,000 attendees. There were also 1,000 people who waited in line that could not get into the show because they sold the maximum number of tickets the hotel would allow. The Purple Haze Properties booth was slammed with interest in licensing and other projects. Many of the attendees were impressed with the bath and body products produced by GRCU/Hollywood Hemp at the booth. "I believe that Nevada and California going recreational and as well as the other 6 states voting in favor of Cannabis reform started a frenzy of investors interested in the cannabis industry," states Andrew Pitsicalis, CEO of Purple Haze Properties and Branding Representative for GRCU.
Kush Bottles, Inc. (OTCQB: KSHB) a leading provider of packaging, supplies, accessories, and branding solutions for the legal cannabis industry, unveiled this month a new certified child-resistant pop-top bottle at the Marijuana Business Conference & Expo in Las Vegas, NV. The new bottle, which is manufactured in California, is exclusive to Kush Bottles and comes in four sizes. It is re-closable and it is intended for the packaging of flower and edibles. The product can also be used as secondary packaging for concentrates or other cannabis products when child resistant packaging is required.
MassRoots, Inc. (OTCQB: MSRT), one of the leading technology platforms for the cannabis industry, announced this week it will be presenting at the 9th annual LD Micro Main Event on Wednesday, December 7 at 11:00 AM PST / 2:00 PM EST at the Luxe Sunset Boulevard Hotel in Los Angeles, CA. MassRoots CEO Isaac Dietrich will be presenting and fielding questions from attendees. The presentation may be accessed via a webcast starting at 2:00 PM EST on December 7, 2016
American Cannabis Company, Inc. (OTCQB: AMMJ), a full-service business-to-business consulting solutions provider, and seller of ancillary products to the cannabis industry, announced earlier in November it has signed a client in Pennsylvania who will be applying for the state's upcoming medical marijuana program. ACC expects to leverage this contract to secure additional revenues through long-term consulting agreements, potential sales of ancillary products and services to aid cultivation operations.
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