Sugarmade (OTCQB: SGMD) today released a shareholder letter on behalf of its CEO, which discussed tremendous growth of its BudCars business, preparations to open a BudCars hub in Los Angeles, as well as what the company believes is a much larger opportunity ahead. “We have completed considerable analysis, the results of which point to strong returns from capital investment in both verticalizing BudCars operations and expanding to multiple new regions,” Sugarmade CEO Jimmy Chan stated in the letter, discussing the path, supported by end-demand and market positioning, which offers the potential to expand at extremely cost-effective levels in the second half of 2020. “To accomplish this, we have organized a Reg-A+ funding round targeting $6 million in capital financing. We have not yet established the precise pricing for this funding round, but we are committed to working with a top-tier investment banking partner. We have initially allowed a pricing scale with a price well above our current market pricing for SGMD shares. This is not due to any plans for a near-term reverse split. Instead, it reflects the rapid growth and strong financial performance we are currently experiencing and anticipate as we move into the second half of the year.”
To view the full press release, visit http://cnw.fm/pLM0I
About Sugarmade, Inc.
Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Its Brand portfolio includes CarryOutsupplies.com, SugarRush(TM) and Budcars.com. For more information, please reference www.Sugarmade.com.
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