Sugarmade (OTCQB: SGMD), one of the largest publicly traded hydroponics supply companies moving into the industrial hemp space, recently announced an initial investment in Hempistry Inc. An article discussing the company reads, “In 2014, Kentucky had 20 approved hemp growers across 33 acres in a trial run. By 2018, those numbers had increased to 210 growers and 6,700 cultivated acres. This sustained rapid expansion has been aided considerably by the passage of the 2018 Farm Bill; recent numbers indicate that 60,000 acres throughout the state are now devoted to hemp production, with nearly a thousand jobs created. Political support has helped Kentucky become the second-largest producer of hemp, while Colorado holds the number one spot. . . . Hempistry Inc. is a Kentucky-based hemp cultivator that began legal hemp cultivation in Western Kentucky last year. Sugarmade announced an initial investment of $190,000 in Hempistry (http://nnw.fm/CBm2m), part of a secured option to invest up to $1 million, that will allow the company to receive 12% of Hempistry’s biomass and converted distillate or isolate cannabidiol (‘CBD’) profits for the upcoming 2019 farming season.”
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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://nnw.fm/SUGAR
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