Sugarmade (OTC: SGMD), a product and branding marketing company investing in operations and technologies with disruptive potential, announced that it has closed on its previously announced acquisition of Lemon Glow Company Inc., including all of the company’s assets, interests, property and rights, The acquisition includes 640 acres in Lake County, California, outside of the Commercial Cannabis Cultivation Exclusion Zones; a portion of that property has already been designated for outdoor cannabis cultivation. The announcement noted that the estimated annual potential cultivation yield from the property is approximately 4,000 pounds of dry trimmed cannabis flower per acre per year, which translates to about 128,000 pounds, or 64 tons, of dry trimmed cannabis flower per year in total. “This step brings us closer to closing the loop on what we believe to be one of the most promising vertically integrated cannabis models in the thriving California market,” said Sugarmade CEO Jimmy Chan in the press release. “We are setting the stage to improve margins while expanding end-market access, and to grow, refine, produce, distribute, sell, and home-deliver top cannabis products in the largest and fastest growing cannabis market on the planet. This acquisition positions us to achieve that objective with a significant capacity to scale as demand for our products and services grows over time.”
To view the full press release, visit https://cnw.fm/StrLk
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(TM), NUG Avenue and Budcars. For more information about the company, please visit www.Sugarmade.com.
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
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer
Do you have questions or are you interested in working with CNW? Ask our Editor
CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com
CannabisNewsWire is part of the InvestorBrandNetwork.
