Sugarmade (OTC: SGMD), an emerging leader in the vertically integrated cannabis marketplace based in California, today updated current and prospective shareholders on its growing Nug Avenue operations. The update also included progress on the company’s continued strides toward verticalizing its model through the acquisition of California cannabis licenses and potentially establishing commercial operations in the cannabis delivery market outside of the state of California. “We will have more details on Nug Avenue performance soon, but we wanted to report our strong progress and let our shareholders know that we are quickly establishing a brand presence in the Los Angeles cannabis delivery market at our first location, which should carry over to help in establishing rapid customer growth in new locations as we expand,” said Jimmy Chan, Sugarmade CEO. “We continue to make tangible strides toward a vertically integrated model. Our long-term strategic vision is to establish the capacity to control all aspects of production, supply, manufacturing, packaging, distribution and delivery — to become a true ‘farm to door’ cannabis company. This vision should provide for better unit economics, margin growth and gains in product quality and customer satisfaction. Organic brand growth, property acquisition, licensing and geographic expansion are all important steps toward achieving that vision for Sugarmade and its shareholders.”
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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 brand portfolio includes CarryOutsupplies.com, SugarRush(TM), Nug Avenue, Lemon Glow and Budcars. For more information, please visit www.Sugarmade.com.
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