CannabisNewsBreaks – Sugarmade Inc. (SGMD) Leveraging Portfolio Data to Improve Efficiency, Profit Margins, Top-Line Sales

Sugarmade (OTC: SGMD), an emerging leader in the licensed cannabis sector, is well poised as the California government shows support for the cannabis industry. “As the California legislature ended its session last month, more than a dozen cannabis reform bills were approved and sent to Governor Gavin Newsom for his consideration; ultimately, the governor signed 10 of them… According to the governor’s office, these bills ‘build on the administration’s efforts to strengthen California’s cannabis legalization framework. As part of this year’s state budget, the governor signed legislation to provide tax relief to consumers and the cannabis industry; support equity businesses; strengthen enforcement tools against illegal cannabis operators; bolster worker protections; expand access to legal retail; and protect youth, environmental and public safety programs funded by cannabis tax revenue,’” a recent article reads. “Sugarmade is focused on strengthening its presence in a variety of spaces, including cannabis. The company is rethinking metrics to leverage its portfolio data to ‘quickly and intuitively understand what we need to focus on creating today to satisfy customers tomorrow, improving efficiency, profit margins, and top-line sales.’”

To view the full article, visit https://cnw.fm/Xa7s8

About Sugarmade Inc.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s portfolio includes CarryOutsupplies.com, SugarRush, NUG Avenue, J Grade Farm, Lemon Glow and Budcars. For more information, please visit www.Sugarmade.com.

NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SGMD

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

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CannabisNewsBreaks – Sugarmade Inc. (SGMD) Lays Foundation for Significantly Expanded Manufacturing, Distribution Infrastructure

Sugarmade (OTC: SGMD), an emerging leader in the licensed cannabis sector, recently signed a management services agreement (“MSA”), marking a key milestone as the company actively strengthens its position in the California cannabis space. “SGMD signed the MSA through its subsidiary, SugarRush, which entered into the agreement with Canndis Inc., a California cannabis micro license holder. Canndis holds a license that covers delivery, manufacturing, distribution, and cultivation rights, and the agreement will enable Sugarmade to expand its manufacturing and distribution footprint,” a recent article reads. “Sugarmade is anticipating harvesting [its first crop], an accomplishment made possible through the company’s acquisition of a minority stake in RMI Ventures (d/b/a Jerusalem Grade Farm)… The MSA calls for Sugarmade to assume management responsibilities and operational control over manufacturing and distribution of cultivated cannabis produced at Jerusalem Grade Farm. The agreement also expands Sugarmade’s manufacturing and distribution footprint and will provide for the establishment of a new strategically located manufacturing and distribution hub near Palm Springs, California, as Sugarmade brings that harvest to market.”

To view the full article, visit https://cnw.fm/V5ADq

About Sugarmade Inc.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s portfolio includes CarryOutsupplies.com, SugarRush, NUG Avenue, Lemon Glow and Budcars. For more information, please visit www.Sugarmade.com.

NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SGMD

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

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Sugarmade Inc. (SGMD) Positioning Itself in Space Seeing Growing Government Support

  • More than a dozen cannabis reform bills were passed by the California legislature during the summer
  • Governor Newsom signed 10 of the bills
  • SGMD is focused on strengthening its presence in a variety of spaces, including cannabis

As the California legislature ended its session last month, more than a dozen cannabis reform bills were approved and sent to Governor Gavin Newsom for his consideration (https://cnw.fm/mCyUU); ultimately, the governor signed 10 of them (https://cnw.fm/CHabl). The show of government support for cannabis in the state bodes well for California cannabis companies, including Sugarmade (OTC: SGMD), a product and branding marketing company investing in operations and technologies with disruptive potential, including cannabis.

“For too many Californians, the promise of cannabis legalization remains out of reach,” said Governor Newsom. “These measures build on the important strides our state has made toward this goal, but much work remains to build an equitable, safe and sustainable legal cannabis industry. I look forward to partnering with the legislature and policymakers to fully realize cannabis legalization in communities across California.”

A Marijuana Moment article reported that “in the past several weeks, more than a dozen cannabis reform bills crossed the finish line in Sacramento, pending action from Gov. Gavin Newsom.” Included in those bills was one that would prohibit localities from banning medical cannabis deliveries in their areas, “a move that advocates say will both improve patient access and help fill voids throughout the state where no cannabis license types have been authorized,” the article stated.

Other bills included a measure providing employment protections for employees who use marijuana during their off hours, a bill designed to streamline record sealing for people with eligible marijuana-related convictions, and legislation that would set the state up to allow interstate cannabis commerce.

The full list of bills signed by the governor include the following: AB 1706, cannabis crimes: resentencing; AB 1646, cannabis packaging: beverages; AB 1885 by cannabis and cannabis products: animals: veterinary medicine; AB 1894, integrated cannabis vaporizer: packaging, labeling, advertisement, and marketing; AB 2210, cannabis: state temporary event licenses, venues licensed by the Department of Alcoholic Beverage Control, unsold inventory; AB 2188, discrimination in employment: use of cannabis; AB 2568, cannabis: insurance providers; AB 2925, California Cannabis Tax Fund: spending reports; SB 1186, Medicinal Cannabis Patients’ Right of Access Act; and SB 1326, cannabis: interstate agreements.

According to the governor’s office, these bills “build on the administration’s efforts to strengthen California’s cannabis legalization framework. As part of this year’s state budget, the governor signed legislation to provide tax relief to consumers and the cannabis industry; support equity businesses; strengthen enforcement tools against illegal cannabis operators; bolster worker protections; expand access to legal retail; and protect youth, environmental and public safety programs funded by cannabis tax revenue.

“To expedite policy reforms that prioritize and protect California consumers’ health and safety, the governor has directed the California Department of Public Health to convene subject matter experts to survey current scientific research and policy mechanisms to address the growing emergence of high-potency cannabis and hemp products,” the governor’s announcement continued. “The governor has also directed the Department of Cannabis Control to further the scientific understanding of potency and its related health impacts by prioritizing the funding of research related to cannabis potency through its existing public university grants.”

Sugarmade is focused on strengthening its presence in a variety of spaces, including cannabis. The company is rethinking metrics to leverages its portfolio data to “quickly and intuitively understand what we need to focus on creating today to satisfy customers tomorrow, improving efficiency, profit margins, and top-line sales,” (https://cnw.fm/ySdJO). SGMD’s brand portfolio currently includes CarryOutsupplies.com, SugarRush(TM), NUG Avenue, J Grade Farm, Lemon Glow and Budcars.

For more information, visit the company’s website at www.Sugarmade.com

NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SGMD

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

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CannabisNewsWire is part of the InvestorBrandNetwork.

Sugarmade Inc. (SGMD) Makes Strategic Advancements in Plan to Grow Presence in California Cannabis Space

  • SGMD inks MSA with California cannabis micro license holder
  • Agreement “lays a foundation for a significantly expanded manufacturing and distribution infrastructure,” says CEO
  • Key partnerships are essential pieces of Sugarmade’s focus on California cannabis space

With the recent signing of a management services agreement (“MSA”) (https://cnw.fm/7zHND), Sugarmade (OTC: SGMD) is making key progress toward the goal of strengthening its position in the California cannabis space. SGMD signed the MSA through its subsidiary, SugarRush, which entered into the agreement with Canndis Inc., a California cannabis micro license holder.

Canndis holds a license that covers delivery, manufacturing, distribution and cultivation rights, and the agreement will enable Sugarmade to expand its manufacturing and distribution footprint.

“This deal will provide us with a new income stream as we apply our expertise and experience to mobilize Canndis’ assets and market positioning,” said Sugarmade CEO Jimmy Chan. “But it also has substantial strategic value because it lays a foundation for a significantly expanded manufacturing and distribution infrastructure under our control when we harvest our first crop.”

Sugarmade is anticipating harvesting that crop in the coming weeks, an accomplishment made possible through the company’s acquisition of a minority stake in RMI Ventures (d/b/a Jerusalem Grade Farm) (https://cnw.fm/PCcMm); the property is licensed for 43,560 square feet of outdoor canopy area and is currently growing at full capacity this season. Sugarmade and RMI Ventures signed an LOI earlier this year.

These strategic agreements are essential pieces of Sugarmade’s focus on growing its presence in the cannabis space. The MSA calls for Sugarmade to assume management responsibilities and operational control over manufacturing and distribution of cultivated cannabis produced Jerusalem Grade Farm. The agreement also expands Sugarmade’s manufacturing and distribution footprint and will provide for the establishment of a new strategically located manufacturing and distribution hub near Palm Springs, California, as Sugarmade brings that harvest to market.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s brand portfolio includes CarryOutsupplies.com, SugarRush, NUG Avenue, J Grade Farm, Lemon Glow and Budcars.

For more information, visit the company’s website at www.Sugarmade.com

NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SGMD

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

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Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Sugarmade Inc. (SGMD) Subsidiary Inks MSA for Manufacturing, Distribution Expansion

Sugarmade (OTC: SGMD) subsidiary SugarRush has signed a management services agreement (“MSA”) with Canndis Inc., a California cannabis micro-license holder. The MSA outlines an expansion for the company’s manufacturing and distribution operations based on Canndis’ license, which includes delivery, manufacturing, distribution and cultivation capabilities. The MSA calls for Sugarmade to take over cannabis product manufacturing, distribution, delivery licensing and facility management ahead of Canndis’s first harvest at its Jerusalem Grade Farm; the farm is licensed for 43,560 square feet of outdoor canopy area and is growing at full capacity this season. According to the announcement, the MSA provides for the establishment of a new strategically located manufacturing and distribution hub. Sugarmade is an emerging leader in the licensed cannabis sector. “This deal will provide us with a new income stream as we apply our expertise and experience to mobilize Canndis’ assets and market positioning,” said Sugarmade CEO Jimmy Chan in the press release. “But it also has substantial strategic value because it lays a foundation for a significantly expanded manufacturing and distribution infrastructure under our control when we harvest our first crop in two months.”

To view the full press release, visit https://cnw.fm/wg9jD

About Sugarmade Inc.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s brand portfolio includes CarryOutsupplies.com, SugarRush(TM), NUG Avenue, J Grade Farm, Lemon Glow and Budcars. For more information about the company, please visit www.Sugarmade.com.

NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SUGAR

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

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CannabisNewsWire is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Sugarmade Inc. (SGMD) Benefiting from ‘Snowballing’ Fresh Frozen Cannabis Market

Sugarmade (OTC: SGMD), an emerging leader in the licensed cannabis sector, recently announced the first transaction under its contract with Cannabis Global Inc. (OTC: CBGL). “The transaction calls for Sugarmade to produce an estimated 25,000 pounds of Fresh Frozen cannabis, which Cannabis Global will use in its product lines and will distribute to the California marketplace. Sugarmade and Cannabis Global have signed a prebooked, fixed-price contract in the amount of $700,000…” a recent article reads. This comes as a growing number of cannabis consumers are choosing Fresh Frozen cannabis, which is flash frozen immediately after harvest instead of undergoing the traditional treatment of drying and curing, as they seek naturally produced cannabis products full of plant terpenes and flavors. Cannabis Global CEO Arman Tabatabaei is quoted saying, “The market for Fresh Frozen cannabis is snowballing. Thus, we believe it is the place to be for the 2022 cultivation season. We plan to process a large portion of the 25,000 pounds of ultra-premium cannabis at our Lynwood, California, laboratory, creating premium solventless extracts for sale into the market and for use in our own manufactured products, thus creating vertical integration to reduce our costs of goods sold.”

To view the full article, visit https://cnw.fm/OBbxH

About Sugarmade Inc.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s portfolio includes CarryOutsupplies.com, SugarRush, NUG Avenue, Lemon Glow and Budcars. For more information, please visit www.Sugarmade.com.

NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SGMD

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
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CannabisNewsWire is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Sugarmade Inc. (SGMD) ‘Embarking on a New and Bold Strategy’

Sugarmade (OTC: SGMD) CEO Jimmy Chan’s recent letter to shareholders outlines several strategic opportunities the company intends to pursue. “Noting several significant changes in the marketplace, including an uncertain regulatory environment, high taxes and drop in prices for cultivated cannabis products, Chan observed that numerous cannabis cultivation license holders, including unlicensed growers, have been forced to forgo plans to directly cultivate cannabis this year,” a recent article reads. “Calling this an ‘opportunity to invoke a new short-term strategy while our long-term plans to cultivate at our new Lemon Glow facility are developing,’ Chan explained that for the 2022 cannabis cultivation season, Sugarmade is ‘embarking on a new and bold strategy to enter into contract cultivation arrangements with local Lake County, California, cultivators that have decided not to engage in their own cultivation efforts for the 2022 season. These operators have already made significant investments in infrastructure and have highly specialized personnel available that we can utilize on a contract basis for our production of cannabis… By contracting with owners of these already available resources, Sugarmade will gain immediate access to the marketplace based on an advantageous cost model that will place Sugarmade on par, or in some cases, at a superior cost position compared to many of the larger cannabis cultivation and distribution companies in the industry.’”

To view the full article, visit https://cnw.fm/RF7vn

About Sugarmade Inc.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s portfolio includes CarryOutsupplies.com, SugarRush, NUG Avenue, Lemon Glow and Budcars. For more information, please visit www.Sugarmade.com.

NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SGMD

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
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CannabisNewsWire is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Sugarmade Inc. (SGMD) Signs LOI Outlining Minority Stake Acquisition of Cannabis Cultivation Property

Sugarmade (OTC: SGMD), an emerging leader in the vertically integrated cannabis sector, has taken steps toward a 40% acquisition of the business and associated property known as RMI Ventures (d/b/a Jerusalem Grade Farm). SGMD signed a letter of intent (“LOI”) agreeing to complete a definitive acquisition agreement that would make Sugarmade a minority owner of RMI Ventures with 40% control of RMI Ventures equity; SGMD anticipates pursuing the acquisition of additional equity in RMI Ventures next year. According to the announcement, Sugarmade intends to leverage the turnkey operation to fulfill its recently announced collaborative cannabis cultivation contract with Cannabis Global Inc. for 25,000 pounds of “Fresh Frozen” cannabis. Sugarmade representatives also noted that the new acquisition would enable the company to seek more buyers and build its sales channel to support the eventual activation of its large production site. The LOI with RMI Ventures includes associated property,  cannabis-related licenses and the business operation. “This acquisition will allow us to be more efficient on every level,” said Sugarmade CEO Jimmy Chan in the press release. “It gives us much more optionality in scaling our vertically integrated model while avoiding unnecessary costs and wasteful spending as we prepare to hit the gas pedal when market conditions are more advantageous. The RMI business is an excellent property, and we look forward to updating current and prospective shareholders as we move toward a definitive agreement and an expanded equity position.” 

To view the full press release, visit https://cnw.fm/Ve5Kq

About Sugarmade Inc.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s portfolio includes CarryOutsupplies.com, SugarRush(TM), NUG Avenue, Lemon Glow and Budcars. For more information about the company, please visit www.Sugarmade.com.

NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SUGAR

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

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Sugarmade Inc. (SGMD) Announces First Transaction Under Cannabis Global Inc. Contract

  • SGMD will produce an estimated 25,000 pounds of Fresh Frozen cannabis, which Cannabis Global will use in its product lines
  • The market for Fresh Frozen cannabis is “snowballing,” says Cannabis Global CEO
  • With the rapid Fresh Frozen harvesting process, airtight storage and near cryogenic storage temperatures, almost all of the natural cannabis plant essence is preserved

Sugarmade (OTC: SGMD), an emerging leader in the licensed cannabis sector, is seeing the fruit of its labors, so to speak. The company recently announced the first transaction under its previously announced contract with Cannabis Global (OTC: CBGL). The transaction calls for Sugarmade to produce an estimated 25,000 pounds of Fresh Frozen cannabis, which Cannabis Global will use in its product lines and will distribute to the California marketplace (https://cnw.fm/srEmn).

Sugarmade and Cannabis Global have signed a prebooked, fixed-price contract in the amount of $700,000; that payment includes cash payments from Cannabis Global to Sugarmade of $300,000 and notes for the balance of $400,000. Planting of the cultivators began in mid-May and will continue into early June.

“The market for Fresh Frozen cannabis is snowballing,” said Cannabis Global CEO Arman Tabatabaei. “Thus we believe it is the place to be for the 2022 cultivation season. We plan to process a large portion of the 25,000 pounds of ultra-premium cannabis at our Lynwood, California, laboratory, creating premium solventless extracts for sale into the market and for use in our own manufactured products, thus creating vertical integration to reduce our costs of goods sold. 

“We also plan to store a significant portion of the biomass in the Los Angeles area to create an active wholesale market to the many new solventless extractors in the area via our wholly owned distribution company, Northern Lights Distribution,” Tabatabaei continued. “We have integrated this cultivation effort into our strategic plan for 2022 and 2023b as an important component to further boost our already fast-growing revenue base.”

Fresh Frozen cannabis is flash frozen immediately after harvest instead of undergoing the traditional treatment of drying and curing. A growing number of cannabis consumers are choosing this type of cannabis as they seek naturally produced cannabis products full of natural plant terpenes and flavors. As demand grows, the number of products available that contain Fresh Frozen cannabis is also growing. 

“In many ways, the advent of Fresh Frozen-oriented cannabis cultivation has turned the cannabis cultivation model on its head,” a recent article observed. “Where cultivators traditionally harvested cannabis plants and then spent weeks or months drying, curing and processing plant materials, all the while battling heat, humidity, molds and other factors that could affect the product. 

“Fresh Frozen-oriented cultivation allows growers to ditch the traditional model by cutting down the plants at the peak of freshness, stripping the large leaves, branches and stems and then bagging the remaining materials bound for storage in industrial freezers at temperatures well below -5 F,” the article continued. “With the rapid harvesting process, airtight storage and near cryogenic storage temperatures, almost all of the natural cannabis plant essence is preserved.”

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s brand portfolio includes CarryOutsupplies.com, SugarRush, NUG Avenue and Lemon Glow. 

For more information, visit the company’s website at www.Sugarmade.com

NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SGMD

About CannabisNewsWire

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Sugarmade Inc. (SGMD) Shareholder Letter Outlines Short-Term, Long-Term Plans for Growth, Strong Margins

  • CEO notes that company will be well-positioned moving forward, “especially as our large Lemon Glow property comes online.”
  • Short term, Sugarmade is embarking on a bold, new strategy to enter into contract arrangements with local Lake County, California, cultivators.
  • SGMD is already in negotiations with local permitted and licensed operators that are agreeable to partnership arrangements for cannabis cultivation. 

The evolving California cannabis market is creating promising long-term and short-term opportunities for Sugarmade (OTC: SGMD) — and its shareholders. That is the message in a shareholder letter from CEO Jimmy Chan that was sent to all SGMD shareholders (https://cnw.fm/GEbF7).

“While there is undoubtedly short-term turbulence in the market, we believe the long-term outlook of the cannabis industry is very bright, especially for California producers and distributors,” Chan stated in the letter. “Historically, California-grown cannabis has always been highly desirable in the marketplace. Sugarmade believes this will continue as legalization at the U.S. federal level creates substantial opportunities to supply other states with top-grade California-grown cannabis. Thus, we expect our company will continue to be well-positioned moving forward, especially as our large Lemon Glow property comes online.”

Sugarmade closed on the acquisition of Lemon Glow Company Inc. and all of its assets, interests, property, and rights last year (https://cnw.fm/4WnzB). The acquisition included 640 acres of property, of which 32 acres have already been designated for outdoor cannabis cultivation. At full scale production, the company estimates the annual potential cultivation yield of the property to be some 4,000 pounds of dry trimmed cannabis flower per acre per year, which represents approximately 128,000 pounds, or 64 tons, of dry trimmed cannabis flower per year in total.

Short term, the letter outlines several strategic opportunities that the company intends to pursue. Noting several significant changes in the marketplace, including an uncertain regulatory environment, high taxes, and drop in prices for cultivated cannabis products, Chan observed that numerous cannabis cultivation license holders, including unlicensed growers, have been forced to forgo plans to directly cultivate cannabis this year.

Calling this an “opportunity to invoke a new short-term strategy while our long-term plans to cultivate at our new Lemon Glow facility are developing,” Chan explained that for the 2022 cannabis cultivation season, Sugarmade is “embarking on a new and bold strategy to enter into contract cultivation arrangements with local Lake County, California, cultivators that have decided not to engage in their own cultivation efforts for the 2022 season. 

“These operators have already made significant investments in infrastructure and have highly specialized personnel available that we can utilize on a contract basis for our production of cannabis,” the letter stated. “By contracting with the owners of these already available resources, Sugarmade will gain immediate access to the marketplace based on an advantageous cost model that will place Sugarmade on par, or in some cases, at a superior cost position compared to many of the larger cannabis cultivation and distribution companies in the industry.”

Chan reported that the company is already in negotiations with several local permitted and licensed operators that are agreeable to a partnership arrangement with Sugarmade to manage operations for cannabis cultivation. “We are also in active negotiations on the distribution side of the business that will allow Sugarmade to bring this cultivated cannabis to the marketplace,” he continued. “Invoking this dynamic short-term strategy, while continuing to develop our longer-term strategy to fully develop the large Lemon Glow property for cultivation, will allow Sugarmade to significantly advance the timeframe for gaining market share in this industry, and we believe we will be able to do so based on a cost model that will allow us to produce strong margins this cultivation season.”

For more information, visit the company’s website at www.Sugarmade.com

NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SGMD

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.