Sugarmade, Inc. (OTC: SGMD) today announces an important boost to its revenue outlook via the closing of international paper contracts from Bao Coc International Paper and Plastics Limited, located in Vietnam. Sugarmade will assume contracts for international paper products bound for delivery into the U.S., which will boost revenue production by approximately $500,000 to $600,000 annually and will provide important cost of goods reductions relating to other products offered by Sugarmade. The Company will issue Bao Coc five million restricted shares in exchange for assumption of the contracts. Read this and more news for SGMD at http://marketnewsupdates.com/news/sgmd.html
"These contracts represent an important strategic opportunity 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 cargo 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."
In other legal marijuana market performances of note:
GreenGro Technologies, Inc. (OTC: GRNH) closed up over 8% on Wednesday at $0.07 trading over 7.3 Million shares by the market close. Greengro Technologie is a world class provider of eco-friendly green technologies with specific domain expertise in indoor and outdoor agricultural science systems serving both the consumer and commercial farming markets. It brings together community and commerce through the growth and distribution of healthy, nutritious foods and vital medicines backed by science and technology.
Agritek Holdings, Inc. (OTC: AGTK) closed up over 5% on Wednesday at $0.04 trading over 3.5 Million shares by the market close. Agritek Holdings, Inc., a pioneer within the medicinal marijuana space, provides innovative technology and agricultural solutions and seeks to be the leader in Compassionate Care Technology for the recreational cannabis industry.
Kaya Holdings, Inc. (OTCQB: KAYS) closed up over 39% on Wednesday at $0.19 trading over 2.7 Million shares by the market close. Kaya Holdings recently reported 700% Year Over Year Revenue Increase in Q10 Filing for its third quarterly report for 2016.
Surna Inc. (OTCQB: SRNA) closed up over 4% on Wednesday at $0.15 trading over 900,000 shares by the market close. Surna Inc. develops innovative technologies and products that monitor, control and or address the energy and resource intensive nature of indoor cannabis cultivation.
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