City of Industry, California, June 15, 2017 /PRNewswire/ --
Sugarmade, Inc. (OTCQB: SGMD), today announces the signing of an exclusive distribution agreement with privately held Plantation Corp. for its breakthrough preservation technology based on radical integration of specialized gases and natural agents that dramatically extends the useful life of medical marijuana up to six (6) months by actively monitoring the internal containers environment and automatically adjusting its atmosphere as needed; all without the need for refrigeration.
Under the terms of the agreement, Sugarmade gains exclusive distribution to the largest U.S. markets, California, Oregon and Washington markets through 2018, including the very important hydroponic retail distribution network, with automatic renewals based on success milestones. Plantation and Sugarmade expect to begin distribution of the products later this year.
The storage containers will be protected via a strong patent portfolio, which protects the use of a modified atmosphere container for storing cannabis. As such the cannabis container system being developed will be unique, and cannot be copied or replicated by a competitor.
Jimmy Chan, CEO of Sugarmade, commented, "This is a critical capability in the case of cannabis since unlike fruits and vegetables that thrive in chilly conditions, refrigeration degrades and undermines the efficacy of the plant medical benefits. Simply put, the technology's innovative features extend the life of medical marijuana, while protecting it from infestation, mold and pathogens to ensure product safety. This is a major event for our company that will further solidify our growing presence in this booming industry."
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, 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.
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SOURCE Sugarmade, Inc.