Sugarmade (OTC: SGMD), an innovator in the dynamic California cannabis sector, has made significant progress toward its goal of becoming a central player in the growing California cannabis space. Sugarmade recently announced that its wholly-owned subsidiary, Lemon Glow Company, has received a conditional use permit (“UP”) number from the Community Development Department of Lake County, California — an important step toward full approval to cultivate cannabis on the property. The Lemon Glow property has an annual potential cultivation yield that could reach as much as 4,000 pounds of dry trimmed cannabis flower per acre, or approximately 128,000 pounds or 64 tons. “We are excited to see the process moving forward for our Lemon Glow property, which represents an important strategic asset as we further verticalize our overall model,” stated Sugarmade CEO Jimmy Chan. “Ramping up our cultivation resources is a significant step in fully leveraging a vertical model to drive shareholder value through margin gains.”
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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 brand 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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