CITY OF INDUSTRY, Calif., Feb. 06, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE-- Sugarmade, Inc. (OTC:SGMD), one of the largest publicly traded cannabis-related hydroponics supply companies, is today proud to announce the relocation of all business operations into a significantly larger facility, as it moves to further implement the recently announced marketing agreement with BizRight Hydroponics, Inc. Via this agreement, Sugarmade is expecting revenue growth during 2018 of at least 400%.
"We do not have nearly enough room at our current City of Industry, California location to accommodate the growth we are already realizing and are expecting for 2018 and beyond," commented Jimmy Chan, CEO of Sugarmade. "We are seeing something very special in the current marketplace. Once cultivation operators receive new licenses, one of the first moves is to buy the supplies required to move into the vegetative stage. Fortunately, we are seeing a lot of these orders, especially within the California marketplace. While hundreds of cultivation licenses have already been issued, there is still a significant backlog, which bodes well for us throughout 2018 and beyond. With more states coming online, the prospects are truly exciting."
Sugarmade's new operations center will consolidate nearly all corporate functions under one roof. The warehouse section was custom made for high volume shipments and is able to accommodate not only regular delivery trucks, but also full cargo containers. With its close proximity to both Southern California's most important freeway cargo routes and the vital port of Los Angeles, Sugarmade will be able to speed both importation of goods into the facility and delivery to customers.
Mr. Chan continued, "Not only is the new facility almost perfect for our needs, it is also located in close proximity to our current location, which should minimize move-related business disruption. We also have chosen this new site, which is at the Monrovia Technology Campus, because it offers a lot of configuration flexibility, and positioned us for future expansion. Our new address will be 750 Royal Oaks Drive, Suite 108, Monrovia, CA 91016."
About Sugarmade, Inc. (OTC:SGMD):
Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade's brands include ZenHydro.com, CarryOutSupplies.com, BudLife Cannabis Storage Solutions, CaliGrownSupplies.com, and Sriracha Seasoning Stix, a revolutionary culinary seasoning product. For more information on the Company's products, please visit http://www.Sugarmade.com.
For inquiries please contact Jimmy Chan at (888) 982-1628 or info@Sugarmade.com.
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements.
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