- The company is entering the European hydroponics market as it expands its foothold in the cannabis supply marketplace through its first order program via Amazon UK
- SGMD estimates that its revenue will reach $30 million by 2019 with operating profitability and positive operating cash flow; it is increasing its commitment to the industrial hemp sector
- The European marijuana market is seen as becoming the largest cannabis market in the world, with more than $150 million invested already
Sugarmade, Inc. (OTC: SGMD) is targeting the European hydroponics market, supplying multiple products for cultivators via its first order through the Amazon UK program. Its agreement calls for it to offer several dozen stock keeping units (SKUs) to be sold in the United Kingdom. A cannabis-related supply company, SGMD projects that its 2019 volume will reach $30 million at operating profitability (http://nnw.fm/b7bWf).
In a news release, Jimmy Chan, CEO of SGMD, said, “While we have previously informed our investors of our $30 million revenue goal for next year, revenues continue to grow across the board.” He cited the opportunities presented by the…
More from NetworkNewsWire
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW 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. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]