Sugarmade
Expands Cannabis Delivery Business and Launches Innovative
Distribution Model with Dining Partnership
Fully
Executed Agreements establish new hub for cannabis delivery in
Hollywood Hills as well as partnership in popular restaurant trend
as exclusive provider for on-site cannabis event space
NEW YORK,
NY -- March 30, 2022 -- InvestorsHub NewsWire -- Sugarmade, Inc.
(OTC
Pink: SGMD) ("Sugarmade", "SGMD" or the "Company") an emerging
leader in the licensed cannabis sector, is pleased to announce the
signing of Definitive Agreements (the "Agreements") related to the
Company's expansion, including the establishment of majority
ownership in a fully licensed new Hollywood cannabis delivery hub
(the "Delivery Hub") located on the world famous Sunset Strip as
well as a minority stake in an expanding reservation-only
restaurant brand with an adjacent private event space which will
include cannabis consumption.
The
location of the Delivery Hub and restaurant will be located on the
world-famous Sunset Strip. The Company will also have majority
ownership control over a brand-new cannabis retail distribution hub
that provides delivery radius coverage in the affluent
neighborhoods of the West Hollywood Hills. This new delivery zone
does not overlap with Sugarmade's existing Los Angeles delivery
footprint.
"This
investment lands us on the ground floor of a new concept for
cannabis distribution in the world's biggest cannabis marketplace,"
stated Jimmy Chan, CEO of Sugarmade.
According
to the Agreements, Sugarmade will take in 100% of all profits from
the new Delivery Hub until the Company has made back all its
capital investment, after which time the Company will take in 51%
of all profits from this Delivery hub location going
forward.
In
addition, Sugarmade teamed up with Boulevard Hospitality Group
("BHG"), best known for operating Yamashiro, the iconic Hollywood
Hills restaurant which is over 100 years old, to be its first
choice provider of cannabis for BHG's expansion into its future
cannabis-only venues.
Chan
added, "Through these Agreements, we are simultaneously adding a
new cannabis end market with future growth potential, doubling our
delivery coverage in the LA metro area, and creating a new and more
diversified revenue profile. We believe all of these steps
represent strong potential drivers for shareholder
value."
About
Sugarmade
Sugarmade, Inc.
(OTC
Pink: SGMD) is a product and branding marketing company
investing in operations and technologies with disruptive potential.
Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG
Avenue, Lemon Glow and Budcars.
For
more information, please visit
www.Sugarmade.com.
FORWARD-LOOKING
STATEMENTS: This
release contains "forward-looking statements" within the meaning of
the safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements also may
be included in other publicly available documents issued by the
Company and in oral statements made by our officers and
representatives from time to time. These forward-looking statements
are intended to provide management's current expectations or plans
for our future operating and financial performance, based on
assumptions currently believed to be valid. They can be identified
by the use of words such as "anticipate," "intend," "plan," "goal,"
"seek," "believe," "project," "estimate," "expect," "strategy,"
"future," "likely," "may," "should," "would," "could," "will" and
other words of similar meaning in connection with a discussion of
future operating or financial performance. Examples of
forward-looking statements include, among others, statements
relating to future sales, earnings, cash flows, results of
operations, uses of cash and other measures of financial
performance.
Because
forward-looking statements relate to the future, they are subject
to inherent risks, uncertainties and other factors that may cause
the Company's actual results and financial condition to differ
materially from those expressed or implied in the forward-looking
statements. Such risks, uncertainties and other factors include,
among others, such as but not limited to; economic conditions,
changes in the laws or regulations, demand for products and
services of the company, the effects of competition, uncontrollable
forces of nature and other factors that could cause actual results
to differ materially from those projected or represented in the
forward-looking statements.
Any
forward-looking information provided in this release should be
considered with these factors in mind. We assume no obligation to
update any forward-looking statements contained in this
report.
Corporate Contact:
Jimmy
Chan
+1-(888)-982-1628
info@Sugarmade.com
Investor
Relations Contact:
EDM Media,
LLC
https://edm.media
Corporate
Communications:
InvestorBrandNetwork
(IBN)
Los Angeles,
California
www.InvestorBrandNetwork.com
310.299.1717
Office
Editor@InvestorBrandNetwork.com