Sugarmade (OTCQB: SGMD), one of the largest publicly traded hydroponics supply companies moving into the industrial hemp space, has started hemp cultivation in Madison County, Kentucky, by exercising its investment option in Hempistry Inc. An article discussing the company reads, “Sugarmade CEO Jimmy Chan said in a news release (http://cnw.fm/mRK0s) that SGMD has ‘multiple options for growth, while (its) recently effective S-1 filing expands (Sugarmade’s) ability to finance the many initiatives in front of the company.’ SGMD is exploring the next generation of hemp-processing technology. The intersection of rising demand and the legal relief provided by the passage of the 2018 Farm Bill is expected to result in a peak industrial hemp crop in 2019. Hemp production is flourishing in Kentucky, as it leads the nation in quantity of cultivated acres, and SGMD’s commitment to the state is evident through its relationships with cultivators and suppliers like Hempistry and BZRTH.”
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About Sugarmade Inc.
Sugarmade (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 and cannabis industries as a nonplant-touching provider of cultivation and processing supplies to industry players. The company is in the process of acquiring several leading hemp and cannabis supply companies, which 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 and processor of industrial hemp and hemp distillates and isolates, and operates Carryoutsupplies.com, a leading 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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