CITY OF INDUSTRY, California, August 9, 2017 /PRNewswire/ --
Sugarmade, Inc. (OTCQB: SGMD), today announces it has begun deliveries of products under its $3 million hydroponic products supply agreement that was signed in June. Management believes the growing number of regional cannabis shortages, which are prompting growers to increase planting, is causing the increase in demand and sales in Sugarmade's products.
As a result of these deliveries, which are expected to continue for at least the next three quarters, other new orders, and the launch of the new business to business website, http://www.CaliGrownSupplies.com, the Company is fulfilling its commitment to expand its business operations into the very fast growing hydroponic and growing supplies marketplace.
Management believes the regional cannabis shortages are prompting growers to increase planting, which is driving additional demand for the linen grow pots Sugarmade is now supplying to the marketplace. The Company has recently received new shipments of the grow pots nearly all of which have been shipped into the supply chain. Additional deliveries are expected over the coming weeks with more orders already going into the factory.
Mr. Jimmy Chan, CEO, commented, "The deliveries are significant events for Sugarmade as these demonstrate our ability to leverage our longstanding manufacturing experience into new business opportunities in the booming hydroponic supply space. Our sales staff is seeing many additional growth opportunities, which we are pursuing. We also see many additional revenue opportunities relative to our upcoming BudLife product, which will be the first container system expected to maintain the integrity of cannabis for up to six months. We encourage our investors to access our White Paper on the subject, a link to which is provided below."
The White Paper, titled, "Cannabis Storage - The Active Packaging Market Opportunity and Technical Requirements" can be accesses at http://bit.ly/2sQnqw1. Additional information can be seen at the new website at http://www.BudLife.net.
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, FreeHandâ ThumbTrayâand 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.
For inquiries please contact Jimmy Chan at (888) 982-1628 or info@Sugarmade.com
SOURCE Sugarmade, Inc.