Tag: SGMD

CannabisNewsBreaks – Sugarmade, Inc. (SGMD) Announces Strong Preliminary Calendar 2019 Performance that Exceeds Internal Forecasts

Sugarmade (OTCQB: SGMD), a major supplier to the hydroponic cultivation and hemp sectors, today announced preliminary calendar year-to-date revenue performance of $26 million and strengthening gross margins. Per the update, the company expects its recently-acquired hydroponics supply operation to produce approximately $32 million for the calendar year and believes it is well positioned moving into 2020 based on growing revenues and an expanding sector cost advantage. “This business sector is all about robust product sourcing, efficiency in logistics and effective e-commerce programs, not to mention effective placement on Amazon, where we are realizing great success.  Our revenue and gross margin production are testaments to the fine job our staff has done relative to these areas,” SGMD Chief Executive Officer Jimmy Chan said in the news release.  “Our revenue for this calendar year, as well as our gross margins, have exceeded our internal forecasts.  We are especially pleased with how gross margins have remained robust all year and have actually risen over the past few months, bucking the expected seasonal trend in this subsector of the agricultural supply industry.  We believe we are especially well set up moving into 2020, with not only e-commerce, but also brand and logistical advantages over the competition.”

To view the full press release, visit http://cnw.fm/YnOq1

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. The Company is becoming a leading supplier to the growing hemp industry and is benefitting from the growth of the hydroponic marketplace. The Company is in the process of acquiring several leading hydroponic and agricultural supply companies that are currently producing in excess of $70 million in annual revenues. Sugarmade is also an investor in fast growing Hempistry, Inc., a Kentucky-based cultivator of industrial hemp, and operates Carryoutsupplies.com a leader provider to the quick service restaurant industry. 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/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.

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CannabisNewsBreaks – Sugarmade, Inc. (SGMD) Announces Ambitious Strategy as it Advances Plans to Uplist to Major US Exchange

Sugarmade (OTCQB: SGMD), a major supplier to the hydroponic cultivation and hemp sectors, today provided a strategic update as it advances plans to uplist to a major U.S. exchange while moving toward another targeted acquisition. According to the update, Sugarmade management expects the company to be on track to reach in excess of $65 million in annualized revenues based on its strategy. “We have an ambitious plan to create a viable path toward another major acquisition while extending our stepwise climb onto a major U.S. exchange listing as we continue to expand operations in a rapidly growing market,” Sugarmade CEO Jimmy Chan said in the news release. “The key steps that will facilitate this evolutionary process are a 14C filing and leveraging our superior market positioning in current and forthcoming negotiations, both of which are readily accessible and attainable ideas.”

To view the full press release, visit http://cnw.fm/g39QJ

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. The Company is becoming a leading supplier to the growing hemp industry and is benefitting from the growth of the hydroponic marketplace. The Company is in the process of acquiring several leading hydroponic and agricultural supply companies that are currently producing in excess of $70 million in annual revenues. Sugarmade is also an investor in fast growing Hempistry, Inc., a Kentucky-based cultivator of industrial hemp, and operates Carryoutsupplies.com a leader provider to the quick service restaurant industry. 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/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 21000 (U.S. Mobile Phones Only)

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

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420 with CNW – Study Finds That Marijuana Use Disorder is Declining

According to a new study, the number of people diagnosed with cannabis use disorder (CUD) is not increasing. The results contradict the expectation of public health experts who thought that due to the legalization of marijuana, more people would consume more and more weed. The incidence of CUD is decreasing, and this could be attributed to the growing number of states that have made marijuana legal.

According to the report, between the years 2002 and 2016, the frequency of CUD decreased significantly across people of all ages. The decrease in cannabis dependence was noticed in adolescents, and young adults and stability in the use of marijuana were noted amongst adults aged 26 years and above who reported daily or almost daily consumption.

Recent studies on the use and misuse of marijuana had mixed results on the frequency of CUD in the last 20 years. This is because people who tend to use marijuana daily or almost daily are at the most risk for CUD. The researchers at Columbia University’s Mailman School of Public Health decided to study this group of consumers to get a better understanding of their general health.

Last month, the journal on Drug and Alcohol Dependence published the study findings.

The researchers used data from the National Surveys on Drug Use and Health for the years 2002 to 2016. This included 22,651 participants aged 12 years and above who reported having used weed at least 300 days within the past year.

The study authors used the Diagnostic and Statistical Manual of Mental Disorders, Fourth Edition, to measure problematic marijuana use for marijuana dependence and marijuana abuse. These include:

  • The time spent in a month procuring, consuming, and getting over the effects of weed.
  • Inability to stick to the set consumption limits
  • Failure to reduce the amount and the number of times of cannabis consumption.
  • The failure to fulfill significant responsibilities due to the frequent use of weed. And,
  • The continued use of cannabis even though you are faced with persistent, or interpersonal problems.

The study authors considered other factors such as the perceived need for mental health treatment among the participants, and whether the health provider indicated other health issues. They were also asked if they have participated in impaired driving from illicit drugs with or without alcohol.

During the study, the authors found that the rate of CUD decreased across all age groups. For those between the age of 12 to 17 years the reduction was26.8%; 18 to 25 years by 29.7%, and adults older than 26 years by 37.5%.

The study also noted that there was a reduction in the frequency of DSM-IV weed abuse across all age groups; adolescents, young adults, and adults for those with past-year daily/almost daily marijuana consumption. They also noted a decrease in the frequency of DSM-IV marijuana dependence in adolescents and young adults.

The researchers attribute the decrease in CUD prevalence to the increased legalization of marijuana, whereby 33 states have legalized medical marijuana, and ten states have legalized recreational marijuana, said one of the study authors, Silvia Martins, in a statement. Legalization has contributed to the reduction of marijuana stigma and the perception of problems associated with the consumption of cannabis. It has also improved the changes in social attitudes since consumers no longer quarrel with relatives and friends about marijuana usage.

Industry watchers are of the view that the findings of this study vindicate the cannabis industry, including companies like Willow Biosciences Inc. (CSE: WLLW) and Sugarmade Inc. (OTCQB: SGMD) that would never participate in an industry that wilfully gets people hooked on a substance.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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CannabisNewsBreaks – Sugarmade, Inc. (SGMD) Releases H1 2019 Data for Recent BZRTH Acquisition Revealing Over $15M Sales, 25% Sequential Revenue Growth

Sugarmade (OTCQB: SGMD), a major supplier to the hydroponic cultivation and hemp sectors, today released full financial performance data for its recent acquisition of BZRTH, a leading hydroponics ecommerce supplier. Per the update, data for the six months ended June 30, 2019, reveal net profitability on sales exceeding $15 million, which represents 25% revenue growth on a sequential six-month period basis. “We are very happy to present our shareholders and current and prospective investors with a quantitative overview of the financial performance we are integrating as we assimilate BZRTH into Sugarmade,” Jimmy Chan, CEO of Sugarmade, said in the news release. “If any doubts remained about the strategic merits of this transaction, hopefully they will be soundly put to bed by the top and bottom line performance we are revealing today.”

To view the full press release, visit http://cnw.fm/f2N2b

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. The Company is becoming a leading supplier to the growing hemp industry and is benefitting from the growth of the hydroponic marketplace. The Company is in the process of acquiring several leading hydroponic and agricultural supply companies that are currently producing in excess of $70 million in annual revenues. Sugarmade is also an investor in fast growing Hempistry, Inc., a Kentucky-based cultivator of industrial hemp, and operates Carryoutsupplies.com a leader provider to the quick service restaurant industry. 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/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 instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

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

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420 with CNW – Strange But True: Marijuana Retrieved from Man’s Nose After 18 Years

Doctors found marijuana in a man’s nose 18 years after he inserted it in his nostrils in an attempt to smuggle it into prison. Doctors have termed it as the first case of this nature.

The team reporting on the case in the British Medical Journal said that the man’s girlfriend brought him the drugs wrapped in a ballon while visiting him in prison. To evade being caught by the guards, he hid the drugs in his nostrils. However, in the process of hiding the drugs, he pushed them too far into the nasal cavity, making it impossible to dislodge.

The man believed that he ingested the drugs, so he never suspected the drug to be the cause of the chronic sinus infections, not even when he had symptoms of nasal obstructions years after the incident.

During the period of incarceration (18 years), the drugs developed into a rhinolith. A rhinolith is a mass of calcium and magnesium salts that form around an alien element in the nasal cavity.

The man went to the hospital after suffering from a sinus infection, and that is when the rhinolith was discovered, Westmead Hospital in Sydney (Australia) doctors said.

Since the 48-year-old man was complaining of headaches, the doctors did a CT of the brain and they discovered a rhinolith measuring 19x11mm in the man’s nasal cavity. The doctors then referred him to the Westmead ENT Department.

After following up with questions to determine the cause of the calcified lesion, the man admitted to having hidden drugs in his nose. He also said that he had been suffering from nasal obstruction and recurring sinus infection for several years.

The man was put under general anesthesia, and the rhinolith was removed. A study on the calcified lesion showed that it contained a rubber wrapping whose content was disintegrated vegetable material.

According to the report, the man remembered the incident that occurred in prison 18 years ago after being taken through a series of questions. The man had forgotten about the drugs and only remembered after the histopathology report. He was free of nasal discomfort three months after the calcified lesion was removed.

The researchers said that this is the first case where a man gets a marijuana-based rhinolith in prison. The researchers further said most cases of drug smuggling in prison take place through oral ingestion, and later retrieved through the gastrointestinal tract. It is rare to find an example of nasal smuggling, said the researchers.

Foreign objects in the body such as beads or seeds or bodily matter such as dislodged teeth or blood clots can be turned into rhinoliths when a mass of calcium and magnesium salt covers them.

Rhinoliths are very rare. According to the study, in every 10,000 ears, noses, or throats, one rhinolith is found in outpatient visits. Patients with rhinoliths complain of symptoms such as headaches, facial pain, nasal blockage, and nose discharge.

Industry wtachers believe that marijuana companies like Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) and Sugarmade Inc. (OTCQB: SGMD) must be surprised at an inmate went to such great lengths to smuggle weed into jail.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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

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HempNewsBreaks – Sugarmade, Inc. (SGMD) CEO Issues Shareholder Letter Following Landmark Deal in $24B Hydroponics Space

Sugarmade (OTCQB: SGMD), a major supplier to the hydroponic cultivation and hemp sectors, today issued a letter to its shareholders from its CEO Jimmy Chan. In the letter, Chan discusses completion of the company’s landmark deal to acquire BZRTH, LLC, which is expected to position Sugarmade as one of the largest publicly traded companies in the overall hydroponics space and drive EBITDA profitability, net-positive cash flows and top-line sales of $37 million on a forward basis. “We believe this is a tremendous deal for our shareholders given the enormous top and bottom-line growth that is already implicit in the deal and the projections we have on hand for growth in this opportunity in the quarters and years ahead,” Chan stated in the shareholder update. “While that acquisition was a major step, we feel it is really just the beginning. We are already in talks pursuing other deals in what we would consider to be a comprehensive multi-step roll-up strategy designed to create a truly market-dominant positioning for the Company based on our driving strategic thesis: hydroponics is set to become the difference-maker that separates successful producers of hemp and hemp-related crops from the rest of the herd.”

To view the full press release, visit http://cnw.fm/7kogM

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. The Company is becoming a leading supplier to the growing hemp industry and is benefitting from the growth of the hydroponic marketplace. The Company is in the process of acquiring several leading hydroponic and agricultural supply companies that are currently producing in excess of $70 million in annual revenues. Sugarmade is also an investor in fast growing Hempistry, Inc., a Kentucky-based cultivator of industrial hemp, and operates Carryoutsupplies.com a leader provider to the quick service restaurant industry. 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/SUGAR

About HempWireNews

HempWireNews (HWN) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HNW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWireNews (HWN) is where HEMP news, content and information converge.

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CannabisNewsBreaks – Sugarmade, Inc. (SGMD) Acquires BZRTH, LLC as Part of Roll-Up Strategy to Create Dominant Force in $24B Global Hydroponics Market

Sugarmade (OTCQB: SGMD), a major supplier to the hydroponic cultivation and hemp sectors, today announced the closing of its acquisition of BZRTH, LLC, a leading ecommerce supplier to the rapidly expanding hydroponic agricultural space. Sugarmade expects that the new combined entity will drive EBITDA profitability, net-positive cash flows, and top-line sales of $37 million on a forward basis. “As of today, Sugarmade is one of the largest publicly traded hydroponics companies in the world,” SGMD CEO Jimmy Chan said in the news release. “The most important idea we want to convey to our committed shareholders right now is that this move was not a one-off deal. It’s part of a multi-step roll-up strategy designed to create the dominant force in this market as we look ahead to a world where hydroponics becomes the difference between success and failure for producers in the rapidly growing market for hemp and hemp-related crops in North America.”

To view the full press release, visit http://cnw.fm/BV1bn

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. The company is becoming a leading supplier to the growing hemp industry and is benefitting from the growth of the hydroponic marketplace. The company is in the process of acquiring several leading hydroponic and agricultural supply companies that are currently producing in excess of $70 million in annual revenues. Sugarmade is also an investor in fast growing Hempistry, Inc., a Kentucky-based cultivator and Carryoutsupplies.com, a leader provider to the quick service restaurant industry. 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/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 21000 (U.S. Mobile Phones Only)

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

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420 with CNW – Michigan Jittery About Availability of Recreational Marijuana

After adult-use recreational marijuana was legalized in Michigan last year, people went to the stores licensed to sell only to realize that they needed medical certification from the state to be able to purchase pot.

One year later and Michigan residents still cannot walk into a store and buy weed.

However, this may soon be possible in the first quarter of 2020. That is if the  Marijuana Regulatory Agency accepts applications from businesses possessing medical marijuana licenses this fall. Since medical marijuana businesses have passed the rigorous licensing process, it will be quicker and easier to issue recreational selling licenses to them.

It may be a long wait before the sale of any adult-use marijuana begins because owners of the medical marijuana dispensaries are complaining about lacking enough quality products to stock their shelves, which begs the question of where the sellers will get enough recreational marijuana supplies whose market is almost ten times that of medical marijuana.

Currently, all the licensed marijuana growers are growing medical cannabis, and this includes the caregivers who are allowed to grow weed for their patients. Before, the caregivers used to sell their excess stock to dispensaries, but the MRA prohibited the act in June. Medical cannabis cannot be sold as a recreational weed.

According to Robin Schneider, the executive director of the Michigan Cannabis Industry Association, the MRA rules allow for surplus medical marijuana to be used for recreational purposes if the department approves it. However, this is not possible if there is a shortage of medical marijuana, as it would entail denying the patients medication.

Currently, there is no surplus, and it is not possible to grow recreational marijuana as licenses are yet to be approved. No one has an accurate answer regarding when residents of Michigan will be able to walk into a store and buy legal cannabis.

According to the CEO of GROW Cannabis Marketing in Royal Oak, Mort Meisner, medical marijuana shortages are still a big challenge, and the MRA, together with the growers, should take action to increase availability.

Since licenses for recreational marijuana are yet to be issued, the market will still be in shortage, and the adult-use consumers will continue procuring their weed from the black market. Meisner says the shortage and lack of licensing are due to poor leadership since the agency was created last spring by Governor Gretchen Whitmer.

One is left wondering what suggestions industry actors like Neutra Corp. (OTCQB: NTRR) and Sugarmade Inc. (OTCQB: SGMD) would have for fixing this needless shortage once and for all.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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

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CannabisNewsBreaks – Sugarmade Inc. (SGMD) Achieves Exempt Status Removing Penny Stock Limitations

Sugarmade (OTCQB: SGMD), a major supplier to the hydroponic cultivation and hemp sectors, today announced that its stock has been awarded “Penny Stock Exempt” status on OTCmarkets.com in accordance with rules defined by the Securities and Exchange Commission (“SEC”). According to OTCmarkets.com, the status means that SGMD stock is now exempt from the limitations that accompany any security defined as a “Penny Stock” according to the SEC under Rule 240.3a51-1 because it meets one of the following: 1) A price of over $5 per share, 2) issuer has at least $6 million in average revenue for the last three years, or 3) issuer has excess of $2 million in net tangible assets if in continuous operations for at least three years or $5 million if less than three years. “It’s gratifying to see that our consistent success has delivered Sugarmade from the limitations associated with Penny Stock status, granting us access to a wider pool of potential investors,” Sugarmade CEO Jimmy Chan said in the news release.

To view the full press release, visit http://cnw.fm/p2kyP

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. The company is becoming a leading supplier to the growing hemp industry and is benefitting from the growth of the hydroponic marketplace. The company is in the process of acquiring several leading hydroponic and agricultural supply companies that are currently producing in excess of $70 million in annual revenues. Sugarmade is also an investor in fast growing Hempistry, Inc., a Kentucky-based cultivator and Carryoutsupplies.com, a leader provider to the quick service restaurant industry. 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/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 21000 (U.S. Mobile Phones Only)

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CannabisNewsBreaks – Sugarmade Inc. (SGMD) Finalizes Terms of Landmark Deal to Acquire Top Hydroponics eCommerce Supplier BZRTH Inc.

Sugarmade (OTCQB: SGMD), a major supplier to the hydroponic cultivation and hemp sectors, today announced the finalization of terms for a definitive agreement between Sugarmade and BZRTH Inc.  Under the agreement, Sugarmade will acquire BZRTH Inc. (“BZRTH”), a leading ecommerce supplier to the rapidly expanding hydroponic agricultural space. The parties expect finalization and closing of the acquisition by October 31, 2019. “After months of negotiations, we now have robust terms set into place that represent enormous value for Sugarmade shareholders,” Sugarmade CEO Jimmy Chan said in the news release. “This acquisition, in itself, will dramatically augment the Company’s top and bottom line numbers and massively expand our overall presence in the booming hydroponics and hemp ecommerce space. Further, it also represents the central piece of our overarching roll-up strategy to position Sugarmade as the dominant pick-and-shovel entity on the hydroponics side catering to producers in the explosive market for hemp and hemp-related crops in North America.”

To view the full press release, visit http://cnw.fm/wBtm4

About Sugarmade, Inc.

Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. The Company is becoming a leading supplier to the growing hemp industry and is benefitting from the growth of the hydroponic marketplace. The Company is in the process of acquiring several leading hydroponic and agricultural supply companies that are currently producing in excess of $70 million in annual revenues. The Company also operates Carryoutsupplies.com, a leader provider to the quick service restaurant industry. 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/SUGAR

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