- SGMD anticipates using the licenses for three new vertically integrated Nug Avenue cannabis delivery hubs
- Each of the licenses can be used for up to three of five categories of licensed cannabis-related business activities
- Definitive agreement aligns with announcement that Sugarmade has acquired LA property for first of new Nug Avenue cannabis delivery hubs
In its continued focus on building is cannabis delivery interests, Sugarmade (OTC: SGMD) has signed a definitive agreement to obtain three nonstorefront California cannabis licenses from the Los Angeles Department of Cannabis Regulation (“DCR”), along with corresponding licenses from the California Bureau of Cannabis Control (“BCC”) (https://cnw.fm/tl4Ud). SGMD is focused on establishing itself as a leader in California’s vertically integrated cannabis marketplace, and the company anticipates using the licenses for its planned three new vertically integrated Nug Avenue cannabis delivery hubs.
“Once we have put all of these new licenses to use, we will have quadrupled our distribution footprint in the world’s largest cannabis market,” said Sugarmade CEO Jimmy Chan. “We also continue to move toward establishing our own cultivation operations. Together, these steps are part of our core vision – to establish a…
NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SGMD
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