Sugarmade (OTC: SGMD), an emerging company in the licensed cannabis sector, today announced its first transaction relative to its collaborative cannabis cultivation strategy via a definitive and executed contract with Cannabis Global Inc. (OTC: CBGL). Under the agreement, Sugarmade, via partner licensed and permitted Lake County, California, cannabis cultivators, will produce approximately 25,000 pounds of “Fresh Frozen” cannabis, which Cannabis Global will use in its product lines and distribute to the California marketplace. “As we recently announced to our shareholders, we see a strong business model of utilizing now idle resources of other California cultivators who have decided they can no longer afford to cultivate cannabis and market their biomass into the marketplace,” said Jimmy Chan, CEO of Sugarmade. “This new model will allow local Lake County, California, cannabis companies to remain in business to do what they do best — cultivate cannabis — while allowing Sugarmade to concentrate on distribution and marketing of cannabis flower and manufactured products.”
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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://ibn.fm/SGMD
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