Sugarmade (OTCQB: SGMD), a leading, multidivisional/multiproduct/multisector supply company, recently outlined “building blocks of a coherent and cohesive strategic vision” in a letter to shareholders from the company’s CEO Jimmy Chan. In the update, Chan discussed “next steps to manifest that vision and drive strong and sustained shareholder value as a key emerging leader in the California cannabis marketplace” (https://cnw.fm/9Fk7o). The letter addressed two themes that Sugarmade is leveraging to drive its value proposition, including geographic expansion of its BudCars delivery service as well as the company’s “move to vertically integrate through the establishment of cultivation operations,” wrote Chan. “Together, they represent tangible catalysts driving both top and bottom line growth.” A recent article discussing this reads, “The letter noted that the move into the North Bay Wine Country area, which represents a more than doubling of the company’s total delivery territory, is ‘ripe with potential.’ A recent ‘North Bay Business Journal’ article reported that cannabis-related tax receipts from Sonoma County indicate that the area is seeing growth of 35% in the cannabis space. ‘As we begin to see tourism return in the wake of the global pandemic health crisis, we anticipate this region to represent one of the strongest bets as well, and we are excited about positioning BudCars to capitalize on that growth trend,’ stated Chan.”
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About Sugarmade Inc.
Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. More information on Sugarmade can be accessed at: www.Sugarmade.com. Sugarmade sees opportunities in business operations that combine the best areas of on-demand consumer distribution with certain areas of synergistic manufacturing and packaging to create a business model that capitalizes on the many changes in the cannabis industry. The company has made agreements with several market participants, which will be announced in 2020. The company views these opportunities as scalable and capable of producing strong revenue growth.
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