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Sugarmade Inc. (SGMD) Announces First Transaction Under Cannabis Global Inc. Contract
June 24, 2022

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://ibn.fm/l3QJa).

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 2023 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://ibn.fm/SGMD

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