CITY OF INDUSTRY, California, June 1, 2017 /PRNewswire/ --
Sugarmade, Inc. (OTCQB: SGMD), today announces a major business expansion through the introduction of CaliGrownSupplies.com, a new division of the Company targeting the fast growing hydroponic supply sector. The focus of the new business unit will be on business-to-business e-commerce, and manufacturing and distribution of hydroponic-related supplies.
The new business initiative capitalizes on the vast experience Sugarmade's staff has gained via the operation of its CarryOutSupplies.com division, which services more than 3,000 business customers. The Company has recently announced that the CarryOutSupplies.com division continues to grow with strong order flow and record web traffic.
"We have been working on bringing CaliGrownSupplies.com on line for the past year and we are excited about the launch," commented Jimmy Chan, Sugarmade's CEO. "This type of business is not new to us. Since 2004, we have been a significant provider of business-to-business e-commerce and we now plan to use this experience to further expand our operations in the hyper-growth hydroponic related markets. It's an excellent area of growth for the Company and its employees and investors."
Sugarmade plans aggressive growth in the number of products available for sale on the site, with additions expected every few weeks through the end of the year. The site can be view at http://www.CaliGrownSupplies.com.
About Sugarmade, Inc. (OTCQB: SGMD)
Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade's brands include CaliGrownSupplies.com, CarryOutSupplies.com, Sugarmade Tree Free Paper, FreeHand™ ThumbTray™, and Sriracha Seasoning Stix™, a revolutionary culinary seasoning product under official license from Irwindale, California-based Huy Fong Foods, Inc., the maker of Sriracha Hot Chili Sauce. For more information on the Company's products, please visit http://www.Sugarmade.com.
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements.
Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
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SOURCE Sugarmade, Inc.