Sugarmade (OTC: SGMD), an emerging leader in the vertically integrated cannabis marketplace based in California, has closed on its previously announced acquisition of a Los Angelese property; the company noted that the property has been designated as a new distribution and delivery hub for SGMD’s Nug Avenue cannabis delivery segment. The company has also previously announced the signing of a memorandum of understanding to apply and obtain three non-storefront California cannabis licenses from the Los Angeles Department of Cannabis Regulation; the company is also applying for corresponding licenses from the California Bureau of Cannabis Control. These licenses should provide the licensing foundation for the opening of three new cannabis-related commercial operations in California. “We are very excited to announce the upcoming location of our new Nug Avenue delivery hub, which is in a prime position to serve the downtown LA area,” said Sugarmade CEO Jimmy Chan in the press release. “Our initial Nug Avenue location has been open for nearly six months and has established a strong brand with tremendous growth in membership — already exceeding 10,000 members and growing fast. Our remaining licenses can be applied to both expansion and verticalization of Nug Avenue operations as we continue to build a top-tier, farm-to-door leader in the California cannabis marketplace.”
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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(TM), NUG Avenue, Lemon Glow and Budcars. For more information about the company, please visit www.Sugarmade.com.
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