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 Inc., 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
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