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CannabisNewsBreaks – Sugarmade Inc. (SGMD) ‘Embarking on a New and Bold Strategy’

Sugarmade (OTC: SGMD) CEO Jimmy Chan’s recent letter to shareholders outlines several strategic opportunities the company intends to pursue. “Noting several significant changes in the marketplace, including an uncertain regulatory environment, high taxes and drop in prices for cultivated cannabis products, Chan observed that numerous cannabis cultivation license holders, including unlicensed growers, have been forced to forgo plans to directly cultivate cannabis this year,” a recent article reads. “Calling this an ‘opportunity to invoke a new short-term strategy while our long-term plans to cultivate at our new Lemon Glow facility are developing,’ Chan explained that for the 2022 cannabis cultivation season, Sugarmade is ‘embarking on a new and bold strategy to enter into contract cultivation arrangements with local Lake County, California, cultivators that have decided not to engage in their own cultivation efforts for the 2022 season. These operators have already made significant investments in infrastructure and have highly specialized personnel available that we can utilize on a contract basis for our production of cannabis… By contracting with owners of these already available resources, Sugarmade will gain immediate access to the marketplace based on an advantageous cost model that will place Sugarmade on par, or in some cases, at a superior cost position compared to many of the larger cannabis cultivation and distribution companies in the industry.’”

To view the full article, visit https://cnw.fm/RF7vn

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, 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://cnw.fm/SGMD

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.

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