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KATY, TX / ACCESSWIRE / August 26, 2021 / Neutra Corp. (OTC PINK:NTRR) subsidiary VIVIS is rolling out a new pricing structure designed to make its lab-tested, high-quality CBD products affordable to a wider range of consumers. VIVIS is able to adjust its prices in this manner thanks to its growing production capacity, which increased last year with the opening of facilities in the Greater Houston area. On top of the new pricing, VIVIS CBD is going to have a Labor Day sale that is even more beneficial to its patrons.
"Consumers are going to welcome this exciting news," predicts Neutra CEO Sydney Jim. "At a time when inflation is rearing its head, we're giving our customers a break and giving others a great reason to give VIVIS-branded products a try. Our lab-tested and certified quality, potency and consistency already set us apart in the CBD marketplace. Now we can add affordability to those critical differentiators, making our lotions, topicals, gummies, etc., more competitive and attractive."
The move comes at a time when VIVIS-branded products are reaching new markets. Neutra earlier this month announced shoppers can now buy VIVIS CBD products at Festival Food's flagship location in Onalaska, WI. If the initial rollout goes well, VIVIS will expand distribution to the chain's other 34 stores.
VIVIS products are now also available at Restore Hyper Wellness in southwest Houston and the Pasadena Medical Plaza Pharmacy in Pasadena. Neutra is near a deal with a Mexican distributor to make VIVIS CBD offerings available in Mexico.
Meanwhile, Neutra's national sales team, which started in early 2021, continues pursuing additional vendor relationships and opportunities to get VIVIS-branded products in regional retailers.
About Neutra Corp.
Neutra Corp. (OTC PINK:NTRR) is an early-stage research and development company with a focus on bringing modern healthy living solutions to a multibillion-dollar market. Cutting-edge technologies within the nutraceuticals, food, and drug, and environmental purification sectors are creating a new kind of world culture-one where in which consumers are demanding access to products that promote health and stave off potential health dangers. One of the nutraceutical sub-markets is the new thriving hemp-based CBD market, in which the Company intends to participate. For more information, visit the Company's website at http://www.NeutraInc.com.
NOTICE REG
KATY, TX / ACCESSWIRE / August 16, 2021 / Neutra Corp. (OTC PINK:NTRR) continues to make substantial progress in securing distribution for its wholly-owned subsidiary VIVIS' CBD products. Since announcing this strategy in January, Neutra management has successfully placed VIVIS in Festival Foods, a large 35 store regional supermarket chain.
Neutra is pleased to have been accepted in another west coast regional chain for product distribution. The name of the chain and specifics will be announced at a near future date once the product is in-store. VIVIS' national sales team that was engaged earlier this year remain in various stages of discussion with other nationwide and regional chains for distribution of VIVIS products. We reasonably anticipate positive announcements in the coming weeks and months.
Neutra management is also in discussions with distributors outside the traditional brick-and-mortar or online sales channels. These counterparties have household name recognition and international exposure. For competitive reasons, specifics will be shared later, but we remain very optimistic on the potential from this strategy.
Finally, we have been in discussions with a Clinical Research company that is looking to be acquired. This would bring another revenue stream to Neutra as well as the ability to have in-house clinical research backing VIVIS CBD products. Management has identified cleared and significant synergies between the two businesses.
"We continue to see increasing demand for VIVIS CBD products across the nation," said Neutra CEO Sydney Jim. "The traction that our sales force has increased since engaging them earlier this year. We hope to update you with good news and hope to bring shareholder value to our shareholders."
About Neutra Corp.
Neutra Corp. (NTRR) is an early-stage research and development company with a focus on bringing modern healthy living solutions to a multibillion-dollar market. Cutting-edge technologies within the nutraceuticals, food and drug, and environmental purification sectors are creating a new kind of world culture-one where in which consumers are demanding access to products that promote health and stave off potential health dangers. One of the nutraceutical sub-markets is the new thriving hemp-based CBD market, in which the Company intends to participate. For more information, visit the Company's website at http://www.neutrainc.com.
NOTIC
KATY, TX / ACCESSWIRE / August 16, 2021 / Neutra Corp. (OTC PINK:NTRR) continues to make substantial progress in securing distribution for its wholly-owned subsidiary VIVIS' CBD products. Since announcing this strategy in January, Neutra management has successfully placed VIVIS in Festival Foods, a large 35 store regional supermarket chain.
Neutra is pleased to have been accepted in another west coast regional chain for product distribution. The name of the chain and specifics will be announced at a near future date once the product is in-store. VIVIS' national sales team that was engaged earlier this year remain in various stages of discussion with other nationwide and regional chains for distribution of VIVIS products. We reasonably anticipate positive announcements in the coming weeks and months.
Neutra management is also in discussions with distributors outside the traditional brick-and-mortar or online sales channels. These counterparties have household name recognition and international exposure. For competitive reasons, specifics will be shared later, but we remain very optimistic on the potential from this strategy.
Finally, we have been in discussions with a Clinical Research company that is looking to be acquired. This would bring another revenue stream to Neutra as well as the ability to have in-house clinical research backing VIVIS CBD products. Management has identified cleared and significant synergies between the two businesses.
"We continue to see increasing demand for VIVIS CBD products across the nation," said Neutra CEO Sydney Jim. "The traction that our sales force has increased since engaging them earlier this year. We hope to update you with good news and hope to bring shareholder value to our shareholders."
About Neutra Corp.
Neutra Corp. (NTRR) is an early-stage research and development company with a focus on bringing modern healthy living solutions to a multibillion-dollar market. Cutting-edge technologies within the nutraceuticals, food and drug, and environmental purification sectors are creating a new kind of world culture-one wh
OTC DISCLOSURE & NEWS SERVICE
Sugarmade Signs Definitive Agreement to Acquire California Cannabis Licenses to Provide for the Opening of Three New Vertically Integrated Nug Avenue Locations
Press Release | 08/31/2021
NEW YORK, Aug. 31, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Sugarmade, Inc. (OTCMKTS:SGMD) (“Sugarmade,” “SGMD,” or the “Company”), an emerging leader in the vertically integrated cannabis marketplace based in California, is excited to announce the signing of a Definitive Agreement to obtain three non-storefront California Cannabis licenses from the Los Angeles Department of Cannabis Regulation (the “DCR”), along with corresponding licenses from the California Bureau of Cannabis Control (the “BCC”), which collectively provide for the licensing of three new vertically integrated Nug Avenue cannabis delivery hubs.
Each of the three licenses can be used for up to three of the five categories of licensed cannabis-related business activities allowed under the terms of these licenses: retail delivery, manufacturing, distribution, transport-only, and cultivation.
By using each license for a combination of 1) retail delivery of cannabis products, 2) supply chain distribution of cannabis products, and 3) manufacturing/packaging of cannabis products, the Company now possesses the licensing credentials to open three new Nug Avenue locations in the Los Angeles metropolitan area.
As announced in its release dated August 17, the Company has already acquired a property in Los Angeles that will serve as the first of these new Nug Avenue cannabis delivery hubs.
“Once we have put all of these new licenses to use, we will have quadrupled our distribution footprint in the world’s largest cannabis market,” noted Sugarmade CEO Jimmy Chan. “We also continue to move toward establishing our own cultivation operations. Together, these steps are part of our core vision – to establish a full farm-to-door vertically integrated cannabis company capable of driving a much greater percentage of total sales to the bottom line for our shareholders, while capturing much greater control over product quality for our customers.”
Via a definitive agreement closed on Feb. 8, 2021, the Company acquired a 70% stake in the Lynwood, California, operations of Nug Avenue, allowing the Company to recognize 100% of revenue and 70% profits generated from Nug Avenue’s Lynwood delivery service operations. These terms will carry over to each new Nug Avenue location as the Company expands.
In addition, the entity possessing the new licenses is SugarRush 5058 LLC (“SugarRush”), a subsidiary of Sugarmade. Due to Los Angeles social equity statutes governing the transferability of cannabis licenses, the seller of the licenses retains a 33.33% ownership stake in SugarRush. Sugarmade has an option to take full ownership over SugarRush via a $25k payment to the seller any time after January 1, 2025, or when allowed by the City of Los Angeles.
About Sugarmade, Inc.
Sugarmade, Inc. (OTCMKTS:SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue, Lemon Glow and Budcars.
For more information, please visit www.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
OTC DISCLOSURE & NEWS SERVICE
Sugarmade Signs Definitive Agreement to Acquire California Cannabis Licenses to Provide for the Opening of Three New Vertically Integrated Nug Avenue Locations
Press Release | 08/31/2021
NEW YORK, Aug. 31, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Sugarmade, Inc. (OTCMKTS:SGMD) (“Sugarmade,” “SGMD,” or the “Company”), an emerging leader in the vertically integrated cannabis marketplace based in California, is excited to announce the signing of a Definitive Agreement to obtain three non-storefront California Cannabis licenses from the Los Angeles Department of Cannabis Regulation (the “DCR”), along with corresponding licenses from the California Bureau of Cannabis Control (the “BCC”), which collectively provide for the licensing of three new vertically integrated Nug Avenue cannabis delivery hubs.
Each of the three licenses can be used for up to three of the five categories of licensed cannabis-related business activities allowed under the terms of these licenses: retail delivery, manufacturing, distribution, transport-only, and cultivation.
By using each license for a combination of 1) retail delivery of cannabis products, 2) supply chain distribution of cannabis products, and 3) manufacturing/packaging of cannabis products, the Company now possesses the licensing credentials to open three new Nug Avenue locations in the Los Angeles metropolitan area.
As announced in its release dated August 17, the Company has already acquired a property in Los Angeles that will serve as the first of these new Nug Avenue cannabis delivery hubs.
“Once we have put all of these new licenses to use, we will have quadrupled our distribution footprint in the world’s largest cannabis market,” noted Sugarmade CEO Jimmy Chan. “We also continue to move toward establishing our own cultivation operations. Together, these steps are part of our core vision – to establish a full farm-to-door vertically integrated cannabis company capable of driving a much greater percentage of total sales to the bottom line for our shareholders, while capturing much greater control over product quality for our customers.”
Via a definitive agreement closed on Feb. 8, 2021, the Company acquired a 70% stake in the Lynwood, California, operations of Nug Avenue, allowing the Company to recognize 100% of revenue and 70% profits generated from Nug Avenue’s Lynwood delivery service operations. These terms will carry over to each new Nug Avenue location as the Company expands.
In addition, the entity possessing the new licenses is SugarRush 5058 LLC (“SugarRush”), a subsidiary of Sugarmade. Due to Los Angeles social equity statutes governing the transferability of cannabis licenses, the seller of the licenses retains a 33.33% ownership stake in SugarRush. Sugarmade has an option to take full ownership over SugarRush via a $25k payment to the seller any time after January 1, 2025, or when allowed by the City of Los Angeles.
About Sugarmade, Inc.
Sugarmade, Inc. (OTCMKTS:SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue, Lemon Glow and Budcars.
For more information, please visit www.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
8-k,$$$=https://ih.advfn.com/stock-market/USOTC/sugarmade-pk-SGMD/stock-news/85947785/current-report-filing-8-k
Sugarmade Signs Definitive Agreement to Acquire California Cannabis Licenses to Provide for the Opening of Three New Vertically Integrated Nug Avenue Locations
Press Release | 08/31/2021
NEW YORK, Aug. 31, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Sugarmade, Inc. (OTCMKTS:SGMD) (“Sugarmade,” “SGMD,” or the “Company”), an emerging leader in the vertically integrated cannabis marketplace based in California, is excited to announce the signing of a Definitive Agreement to obtain three non-storefront California Cannabis licenses from the Los Angeles Department of Cannabis Regulation (the “DCR”), along with corresponding licenses from the California Bureau of Cannabis Control (the “BCC”), which collectively provide for the licensing of three new vertically integrated Nug Avenue cannabis delivery hubs.
Each of the three licenses can be used for up to three of the five categories of licensed cannabis-related business activities allowed under the terms of these licenses: retail delivery, manufacturing, distribution, transport-only, and cultivation.
By using each license for a combination of 1) retail delivery of cannabis products, 2) supply chain distribution of cannabis products, and 3) manufacturing/packaging of cannabis products, the Company now possesses the licensing credentials to open three new Nug Avenue locations in the Los Angeles metropolitan area.
As announced in its release dated August 17, the Company has already acquired a property in Los Angeles that will serve as the first of these new Nug Avenue cannabis delivery hubs.
“Once we have put all of these new licenses to use, we will have quadrupled our distribution footprint in the world’s largest cannabis market,” noted Sugarmade CEO Jimmy Chan. “We also continue to move toward establishing our own cultivation operations. Together, these steps are part of our core vision – to establish a full farm-to-door vertically integrated cannabis company capable of driving a much greater percentage of total sales to the bottom line for our shareholders, while capturing much greater control over product quality for our customers.”
Via a definitive agreement closed on Feb. 8, 2021, the Company acquired a 70% stake in the Lynwood, California, operations of Nug Avenue, allowing the Company to recognize 100% of revenue and 70% profits generated from Nug Avenue’s Lynwood delivery service operations. These terms will carry over to each new Nug Avenue location as the Company expands.
In addition, the entity possessing the new licenses is SugarRush 5058 LLC (“SugarRush”), a subsidiary of Sugarmade. Due to Los Angeles social equity statutes governing the transferability of cannabis licenses, the seller of the licenses retains a 33.33% ownership stake in SugarRush. Sugarmade has an option to take full ownership over SugarRush via a $25k payment to the seller any time after January 1, 2025, or when allowed by the City of Los Angeles.
About Sugarmade, Inc.
Sugarmade, Inc. (OTCMKTS:SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue, Lemon Glow and Budcars.
For more information, please visit www.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
Sugarmade Signs Definitive Agreement to Acquire California Cannabis Licenses to Provide for the Opening of Three New Vertically Integrated Nug Avenue Locations
Press Release | 08/31/2021
NEW YORK, Aug. 31, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Sugarmade, Inc. (OTCMKTS:SGMD) (“Sugarmade,” “SGMD,” or the “Company”), an emerging leader in the vertically integrated cannabis marketplace based in California, is excited to announce the signing of a Definitive Agreement to obtain three non-storefront California Cannabis licenses from the Los Angeles Department of Cannabis Regulation (the “DCR”), along with corresponding licenses from the California Bureau of Cannabis Control (the “BCC”), which collectively provide for the licensing of three new vertically integrated Nug Avenue cannabis delivery hubs.
Each of the three licenses can be used for up to three of the five categories of licensed cannabis-related business activities allowed under the terms of these licenses: retail delivery, manufacturing, distribution, transport-only, and cultivation.
By using each license for a combination of 1) retail delivery of cannabis products, 2) supply chain distribution of cannabis products, and 3) manufacturing/packaging of cannabis products, the Company now possesses the licensing credentials to open three new Nug Avenue locations in the Los Angeles metropolitan area.
As announced in its release dated August 17, the Company has already acquired a property in Los Angeles that will serve as the first of these new Nug Avenue cannabis delivery hubs.
“Once we have put all of these new licenses to use, we will have quadrupled our distribution footprint in the world’s largest cannabis market,” noted Sugarmade CEO Jimmy Chan. “We also continue to move toward establishing our own cultivation operations. Together, these steps are part of our core vision – to establish a full farm-to-door vertically integrated cannabis company capable of driving a much greater percentage of total sales to the bottom line for our shareholders, while capturing much greater control over product quality for our customers.”
Via a definitive agreement closed on Feb. 8, 2021, the Company acquired a 70% stake in the Lynwood, California, operations of Nug Avenue, allowing the Company to recognize 100% of revenue and 70% profits generated from Nug Avenue’s Lynwood delivery service operations. These terms will carry over to each new Nug Avenue location as the Company expands.
In addition, the entity possessing the new licenses is SugarRush 5058 LLC (“SugarRush”), a subsidiary of Sugarmade. Due to Los Angeles social equity statutes governing the transferability of cannabis licenses, the seller of the licenses retains a 33.33% ownership stake in SugarRush. Sugarmade has an option to take full ownership over SugarRush via a $25k payment to the seller any time after January 1, 2025, or when allowed by the City of Los Angeles.
About Sugarmade, Inc.
Sugarmade, Inc. (OTCMKTS:SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue, Lemon Glow and Budcars.
For more information, please visit www.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
Sugarmade Signs Definitive Agreement to Acquire California Cannabis Licenses to Provide for the Opening of Three New Vertically Integrated Nug Avenue Locations
Press Release | 08/31/2021
NEW YORK, Aug. 31, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Sugarmade, Inc. (OTCMKTS:SGMD) (“Sugarmade,” “SGMD,” or the “Company”), an emerging leader in the vertically integrated cannabis marketplace based in California, is excited to announce the signing of a Definitive Agreement to obtain three non-storefront California Cannabis licenses from the Los Angeles Department of Cannabis Regulation (the “DCR”), along with corresponding licenses from the California Bureau of Cannabis Control (the “BCC”), which collectively provide for the licensing of three new vertically integrated Nug Avenue cannabis delivery hubs.
Each of the three licenses can be used for up to three of the five categories of licensed cannabis-related business activities allowed under the terms of these licenses: retail delivery, manufacturing, distribution, transport-only, and cultivation.
By using each license for a combination of 1) retail delivery of cannabis products, 2) supply chain distribution of cannabis products, and 3) manufacturing/packaging of cannabis products, the Company now possesses the licensing credentials to open three new Nug Avenue locations in the Los Angeles metropolitan area.
As announced in its release dated August 17, the Company has already acquired a property in Los Angeles that will serve as the first of these new Nug Avenue cannabis delivery hubs.
“Once we have put all of these new licenses to use, we will have quadrupled our distribution footprint in the world’s largest cannabis market,” noted Sugarmade CEO Jimmy Chan. “We also continue to move toward establishing our own cultivation operations. Together, these steps are part of our core vision – to establish a full farm-to-door vertically integrated cannabis company capable of driving a much greater percentage of total sales to the bottom line for our shareholders, while capturing much greater control over product quality for our customers.”
Via a definitive agreement closed on Feb. 8, 2021, the Company acquired a 70% stake in the Lynwood, California, operations of Nug Avenue, allowing the Company to recognize 100% of revenue and 70% profits generated from Nug Avenue’s Lynwood delivery service operations. These terms will carry over to each new Nug Avenue location as the Company expands.
In addition, the entity possessing the new licenses is SugarRush 5058 LLC (“SugarRush”), a subsidiary of Sugarmade. Due to Los Angeles social equity statutes governing the transferability of cannabis licenses, the seller of the licenses retains a 33.33% ownership stake in SugarRush. Sugarmade has an option to take full ownership over SugarRush via a $25k payment to the seller any time after January 1, 2025, or when allowed by the City of Los Angeles.
About Sugarmade, Inc.
Sugarmade, Inc. (OTCMKTS:SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue, Lemon Glow and Budcars.
For more information, please visit www.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
ntrr,$$$=https://factsaboutcbd.org/neutra-corp-otcmkts-ntrr-continues-to-secure-distribution-for-vivis-cbd-based-products-4829
dont think they will grow this yr,i may be wrong on this,we will see
waiting on a update of everything that is going on with this stock
OTC DISCLOSURE & NEWS SERVICE
Sugarmade Provides Shareholder Update: Nug Avenue Operational Growth, Implementation of New Licenses, and Potential Expansion into Oregon Cannabis Delivery Marketplace
Press Release | 07/22/2021
NEW YORK, July 22, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Sugarmade, Inc. (OTCMKTS:SGMD) (“Sugarmade,” “SGMD” or the “Company”), an emerging leader in the vertically integrated cannabis marketplace based in California, is pleased to update current and prospective shareholders on the Company’s growing Nug Avenue operations, as well as further 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.
Nug Avenue. The Company established its initial Nug Avenue cannabis delivery operation in March 2021. Since that launch, Nug Avenue has grown substantially, picking up more than 10,000 new unique members as of the end of June, which significantly exceeded the Company’s internal expectations.
“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,” noted Jimmy Chan, Sugarmade CEO.
Commercializing New Licenses. The Company has officially opened an escrow account for the purpose of acquiring property to be used for the application of one of three new non-storefront California cannabis licenses the Company is in the process of acquiring, as discussed in its release dated June 10, 2021.
As noted in that release, the Company announced the signing of a Memorandum of Understanding to obtain three non-storefront California cannabis licenses from the Los Angeles Department of Cannabis Regulation, along with corresponding licenses from the California Bureau of Cannabis Control, which collectively provide the licensing foundation for the opening of three (3) new Nug Avenue cannabis delivery hubs in the Los Angeles metro area.
The Company plans to acquire property to be used as a new delivery hub.
Oregon Expansion. The Company has also taken steps toward making an offer on licenses for the state of Oregon, which may or may not include a real estate purchase in the process. This is a step toward potentially establishing cannabis delivery operations in Oregon. The Oregon recreational cannabis market is one of the largest and fastest growing in the country, with total sales expected to top $1 billion this year.
The Company has reached out to local service providers to help move this process forward. Further details related to the Company’s expansion plans will be discussed soon.
Chan added, “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.”
About Sugarmade, Inc.
Sugarmade, Inc. (OTCMKTS:SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue, Lemon Glow and Budcars.
For more information, please visit www.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," "e
OTC DISCLOSURE & NEWS SERVICE
Sugarmade Announces Closing of Acquisition of New Property to Serve as Second Licensed LA Nug Avenue Delivery Hub
Press Release | 08/17/2021
NEW YORK, Aug. 17, 2021 (GLOBE NEWSWIRE) -- via InvestorWire - Sugarmade, Inc. (OTCMKTS: SGMD) (“Sugarmade”, “SGMD”, or the “Company”), an emerging leader in the vertically integrated cannabis marketplace based in California, is excited to announce the closing of the Company’s acquisition of a property in Los Angeles that will serve as a new distribution/delivery hub for its Nug Avenue cannabis delivery segment.
This follows the Company’s recent announcement that it has signed a Memorandum of Understanding to obtain three non-storefront California Cannabis licenses from the Los Angeles Department of Cannabis Regulation, along with corresponding licenses from the California Bureau of Cannabis Control, which collectively will provide the licensing foundation for the opening of three new cannabis-related commercial operations in California.
The Company plans to assign one of these licenses, once obtained, to this newly acquired property, designated as a licensed cannabis delivery business under its Nug Avenue brand.
“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,” commented Jimmy Chan, CEO of Sugarmade. “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.”
About Sugarmade, Inc.
Sugarmade, Inc. (OTCMKTS:SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue, Lemon Glow and Budcars.
For more information, please visit www.Sugarmade.com.
FORWARD-LOOK
waiting on follow up news
looking good here
anybody here lets do this today
WAITING TO SEE IF THEY CAN GROW SOME CANNABIS THIS YR OR NOT
WAITING TO SEE IF THEY CAN GROW SOME CANNABIS THIS YR OR NOT
THIS STOCK HAS A LOT GOING FOR IT,BUY ON DIPS AND MAKE SOME COIN
did u buy soome yet and with who did u buy from
read this=
ITEM 2 – MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Sugarmade, Inc. (hereinafter referred to as “we,” “us” or “Company”) is a publicly-traded company incorporated in the state of Delaware. Our previous legal name was Diversified Opportunities, Inc. Our Company operates our business activities through multiple subsidiaries, which includes SWC Group, Inc., a California corporation (“SWC”), SugarRush, Inc., a California corporation and NUG Avenue, Inc., a California corporation.
As of March 31, 2021, we operated our business in the following four segments:
1) Paper and paper-based products: The supply of consumable products to the quick-service restaurant sub-sector of the restaurant industry, and as an importer and distributor of non-medical personal protection equipment to business and consumers, via our CarryOutSupplies.com subsidiary (“Carryout Supplies”). Carryout Supplies is a producer and wholesaler of custom printed and generic supplies, servicing more than 2,000 quick-service restaurants. The primary products are plastic cold cups, paper coffee cups, yogurt cups, ice cream cups, cup lids, cup sleeves, edible packaging, food containers, soup containers, plastic spoons, and similar products for this market sector. This subsidiary, which was formed in 2009, was recently expanded to also offer non-medical personal protective equipment.
2) Non-medical supplies: Beginning in 2020, we sell non-medical personal protective equipment through Carryout Supplies.
3)
Cannabis products delivery service and sales: As a joint owner in the Budcars licensed cannabis delivery service brand (“Budcars” or the “Budcars Brand”). Budcars operates a licensed cannabis delivery service in the Sacramento, California area. During early 2020, the Company gained a 40% stake in the Budcars Brand and in the Sacramento delivery operations via acquiring a 40% stake in Indigo Dye Group (“Indigo”). Under the terms of the agreement with Indigo, Sugarmade acquired an option to purchase an additional 30% interest in Budcars. Upon exercise of this option, the Company would acquire a controlling interest in Indigo. As of December 31, 2020, the option has not yet been exercised and the Company’s stake in Budcars was at 40%. Starting on October 1, 2020, the Company plans to open new locations via purchasing equity in other Brand/Franchises to cover delivery for the entire California. Therefore, the Company is not likely at this time to exercise its option to acquire the additional 30% interest in Indigo. In addition, the Company is no longer involved in day-to-day operations of Indigo and going forward, the Company intends to pursue cannabis delivery independent of Indigo.
Starting on October 1, 2020, the Company plans to open new locations via purchasing equity in other Brand/Franchises to cover delivery for the entire California. Therefore, the Company is not likely at this time to exercise its option to acquire the additional 30% interest in Indigo. In addition, the Company is no longer involved in day-to-day operations of Indigo and going forward, the Company intends to pursue cannabis delivery independent of Indigo. As of October 1, 2020, the Company ceased to have control over the day-to-day business of Indigo and it was deconsolidated and recorded as an investment in nonconsolidated affiliate at its $505,449 estimated fair value and changed to equity method of accounting. Pursuant to the terms of the Indigo agreement, if the Company determines, in its discretion not to continue to make monthly payments, its 40% ownership interest in Indigo will be decreased according to the payment then made. During the quarter ended December 31 ,2020, if the Company makes no additional payments, it will hold approximately 29% of the ownership of Indigo. See Note 4 and Note 5.
4) Starting on February 8, 2021, Sugarmade became a joint owner of Nug Avenue, Inc., a California corporation (“Nug Avenue”), which operates a licensed and regulated cannabis delivery service out of Lynwood, California, serving the greater Los Angeles Metropolitan area (the “Lynwood Operations”). The Company currently owns a majority stake of seventy percent (70%) of Nug Avenue’s Lynwood Operations and holds first rights of refusal on Nug Avenue’s business expansion relative to the cannabis marketplace.
Our CarryOutSupplies.com Operation
Our legacy business operation, CarryOutSupplies.com, is a producer and wholesaler of custom printed and generic supplies, servicing more than 2,000 businesses in the Quick Service Restaurant Sector. Our products include double poly paper cups for cold beverage; disposable, clear, plastic cold cups, paper coffee cups, yogurt cups, ice cream cups, cup lids, cup sleeves, edible packaging, food containers, soup containers, plastic spoons, and many other similar products for this market sector. CarryOutSupplies.com was founded in 2009. Our products are viewable on our website: www.CarryOutSupplies.com.
We believe we occupy a defensible space within the Quick Service Restaurant Sector by way of our significant experience in serving this customer base, our knowledge of the industry fundamentals, and our significant experience in Asia factory sourcing and importing goods from Asian factories. Our niche within the market pertains to serving the many quick-service restaurants that wish to acquire custom printed products, such as those embossed with logos, but the minimum order size for such customization had been cost-prohibitive. With that in mind, CarryOutSupplies.com was founded to provide products to this underserved section of the market. Since that time, the Company has become a key supplier to more than 2,000 establishments, particularly within the frozen dessert segment.
The business of supplying such products to the quick-service restaurant sector remains highly competitive. Over the past few years, operating margins have compressed as a result of increased competition, the emergence of relatively inexpensive digital printing processes, and the larger printing and paper product manufacturers lowering minimum order quantities. Sugarmade expects the sector to remain highly competitive and is responding to the industry changes by realigning staff, eliminating less profitable products, and introducing new product areas.
The CarryOutSupplies operation has recently expanded its product offerings to include consumable sanitary supplies, such as non-medical gloves, non-medical facemasks, face shields, and other non-medical protective equipment. We believe our significant experience in sourcing products from Asian factories and the importation of goods from Asia makes us well-equipped to operate within the marketplace for non-medical, consumable, protective equipment.
We plan to continue our business pursuits relative to our CarryOutSuppies.com business, and have significantly restructured the operations over the past year. We plan to continue to modify our strategies and product lines to remain competitive in these niche market sectors.
BudCars Cannabis Delivery Service
In early 2020, our Company entered into an agreement to purchase Bud Cars, Inc., a California corporation, which is engaged in the licensed, and legal under California state law, delivery of cannabis and cannabis-containing products. Under the terms of the acquisition agreement, Sugarmade acquired a 29% stake in the operation and an option to gain a controlling interest in the delivery service.
Cannabis is already one of the fastest-growing markets in the U.S. According to Fortune Business Insights, during 2019, the cannabis market produced approximately $100 billion in U.S. sales. Growth over the next few years is expected to top 32% compounded annually. The U.S. cannabis segment has clearly been one of the fastest-growing markets within the American economy over the past 50 years. The California market clearly leads the U.S. market, with the legal California market worth at least $13 billion annually with strong growth continuing. The illegal market is likely even more extensive.
As the market shifts from the black to white markets, the legal providers are expected to benefit further. We urge investors to consider this trend in their investment decisions. One of the primary reasons many legal providers across several states have developed business issues is flawed state government policies that have allowed illegal operators to continue in business at the expense of the licensed and heavily taxed industry.
According to BDS Analytics and Arcview Market Research, two firms that closely monitor the cannabis marketplace, California’s total cannabis market is expected to produce about $12.8 billion this year, with $8.7 billion going to illicit operators and $3.1 billion to the state-authorized market.
For the first time, the white market/black market balance is beginning to shift as authorities crackdown on unlicensed business. This is starting to benefit legal operators. For example, California regulators and law enforcement agencies have recently announced hundreds of enforcement actions across California seizing millions of dollars of black market cannabis products. We believe this trend toward enforcement against illegal operators will directly benefit companies like the BudCars cannabis delivery service.
The outbreak of COVID-19, new social unrest in the United States, and the general movement toward retail home delivery have resulted in radical shifts in the cannabis marketplace. As a result, the general market for delivery services is proliferating.
Budcars operates its delivery service in strict adherence to all state, local and municipal regulations and is fully licensed for operations by California regulators.
Starting on October 1, 2020, the Company plans to open new locations via purchasing equity in other Brand/Franchises to cover delivery for the entire California. Therefore, the Company is not likely at this time to exercise its option to acquire the additional 30% interest in Indigo. In addition, the Company is no longer involved in day-to-day operations of Indigo and going forward, the Company intends to pursue cannabis delivery independent of Indigo. As of October 1, 2020, the Company ceased to have control over the day-to-day business of Indigo and it was deconsolidated and recorded as an investment in nonconsolidated affiliate at its $505,449 estimated fair value and changed to equity method of accounting. As of March 31, 2021, the Company still holds approximately 29% of the ownership of Indigo. See Note 4 and Note 5.
Our Ownership in Nug Avenue, Inc. Relative to Licensed and Permitted Cannabis Delivery in the Los Angeles Metropolitan Area
On February 8, 2020, Sugarmade became a joint owner of Nug Avenue, Inc., a California corporation (“Nug Avenue”), which is party to a management services agreement relating to the licensed and regulated delivery of cannabis out of Lynwood, California, serving primarily the greater Los Angeles Metropolitan area (the “Lynwood Operations”).
As of February 8, 2020, the Company acquired a majority stake of seventy percent (70%), allowing for full financial statement consolidation of the Nug Avenue, Inc. Lynwood Operations. As part of the February 8, 2020, agreement, the Company also gained an option to invest in Nug Avenue’s future business opportunities pertaining to any and all legal and regulated cannabis business operations. Further, under the February 8, 2002 agreement, Nug Avenue agreed to grant the Company unlimited participation rights in future financings.
The Company believes the Los Angeles cannabis delivery market offers substantial opportunities for growth. By all measures, the California cannabis market continues to gain strength, with the Southern California sub-market representing the world’s largest single cannabis marketplace. According to the California Department of Tax and Fee Administration, the most recently reported quarterly period posted an almost 80% increase in cannabis tax compared to the year-ago period. Much of this growth was driven by increased use of delivery services, as consumers are increasingly relying on home delivery for many goods, including cannabis.
Discussions with respect to our Company’s operations included those of, SWC and Indigo Dye Group Corp., a variable interest entity (“VIE”). During the quarter ended December 31, 2020, the Company plans to open new locations via purchasing equity into other Brand/Franchises to cover delivery for the entire California. Therefore, the Company is not likely at this time to exercise its option to acquire the additional 30% interest in Indigo. In addition, the Company is no longer involved in Indigo’s day-to-day operations and going forward, the Company intends to pursue cannabis delivery, independent of Indigo. As of October 1, 2020, the Company continues to hold approximately 29% of the ownership of Indigo but ceased to have a controlling interest in the partnership and it was deconsolidated and recorded as an investment in nonconsolidated affiliate at its $505,449 estimated fair value and changed to equity method of accounting. During the quarter ended December 31 ,2020, the Company invested additional $61,484 in Indigo, or 3.5% of Indigo’s issued shares. As of March 31, 2021, the Company continues to hold approximately 29% of the ownership of Indigo. As of March 31, 2021, we had no other operations other than CarryOutSupplies.com and NUG Avenue.
Recent Developments
On May 14, 2021, Carnaby Spot Bay Corp, a wholly owned subsidiary of the Company (“Merger Sub”) merged with and into Lemon Glow Company (“Lemon Glow”), at which time the separate corporate existence of Merger Sub would cease (the “Merger”), with Lemon Glow being the surviving corporation in the Merger.
As consideration for the Merger, at the closing of the Merger (the “Closing”) Company provided to the shareholders of Lemon Glow (the “Lemon Glow Shareholders”):
(iv) cash consideration of $4,256,000, consisting of:
(c) $280,000 in cash; and
(d) $3,976,000 via the issuance of promissory notes to Lemon Glow Shareholders, which each bear interest at the rate of 5% per year 36 monthly payments commencing on June 15, 2021 (each, a “Note” and collectively the “Notes”); and
(v) 660,571,429 shares of common stock of the Company; and
(vi) 2,000,000 shares of Series B Preferred Stock of the Company (the “Series B Stock”).
Lemon Glow is the owner of a 640-acre property located in Lake Country, California. Lemon Glow is in the process of improving 32 acres of the 640 acres for use as a regulated cannabis cultivation site. The Company and Lemon Glow expect that the annual potential cultivation yield at the property is approximately 4,000 pounds per acre of dry trimmed cannabis flower, although there can be no assurance that the property will yield this amount or any at all.
At the Closing, each outstanding share of common stock of Lemon Glow, of which there were 11,000 shares at the effective time of the Merger, were converted into the right to receive the Merger Consideration. Also at the Closing, each outstanding share of common stock of Merger Sub (100 shares) was converted into one share of common stock of Lemon Glow which became the only outstanding capital stock of the Lemon Glow at the effective time of the Merger. In addition, each share of Lemon Glow common stock of the Company held in the treasury of Lemon Glow immediately prior to the Closing was canceled and retired. As a result, the Company became the sole owner of 100% of the issued and outstanding common stock of Lemon Glow.
The Merger is intended to be a reorganization within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended (the “Code”), and the Merger Agreement is intended to be a “plan of reorganization” within the meaning of the regulations promulgated under Section 368(a) of the Code and for the purpose of qualifying as a tax-free transaction for federal income tax purposes.
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Sugarmade Announces Closing of Acquisition of New Property to Serve as Second Licensed LA Nug Avenue Delivery Hub
Press Release | 08/17/2021
NEW YORK, Aug. 17, 2021 (GLOBE NEWSWIRE) -- via InvestorWire - Sugarmade, Inc. (OTCMKTS: SGMD) (“Sugarmade”, “SGMD”, or the “Company”), an emerging leader in the vertically integrated cannabis marketplace based in California, is excited to announce the closing of the Company’s acquisition of a property in Los Angeles that will serve as a new distribution/delivery hub for its Nug Avenue cannabis delivery segment.
This follows the Company’s recent announcement that it has signed a Memorandum of Understanding to obtain three non-storefront California Cannabis licenses from the Los Angeles Department of Cannabis Regulation, along with corresponding licenses from the California Bureau of Cannabis Control, which collectively will provide the licensing foundation for the opening of three new cannabis-related commercial operations in California.
The Company plans to assign one of these licenses, once obtained, to this newly acquired property, designated as a licensed cannabis delivery business under its Nug Avenue brand.
“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,” commented Jimmy Chan, CEO of Sugarmade. “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.”
About Sugarmade, Inc.
Sugarmade, Inc. (OTCMKTS:SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue, Lemon Glow and Budcars.
For more information, please visit www.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,"
Sugarmade Announces Closing of Acquisition of New Property to Serve as Second Licensed LA Nug Avenue Delivery Hub
Press Release | 08/17/2021
NEW YORK, Aug. 17, 2021 (GLOBE NEWSWIRE) -- via InvestorWire - Sugarmade, Inc. (OTCMKTS: SGMD) (“Sugarmade”, “SGMD”, or the “Company”), an emerging leader in the vertically integrated cannabis marketplace based in California, is excited to announce the closing of the Company’s acquisition of a property in Los Angeles that will serve as a new distribution/delivery hub for its Nug Avenue cannabis delivery segment.
This follows the Company’s recent announcement that it has signed a Memorandum of Understanding to obtain three non-storefront California Cannabis licenses from the Los Angeles Department of Cannabis Regulation, along with corresponding licenses from the California Bureau of Cannabis Control, which collectively will provide the licensing foundation for the opening of three new cannabis-related commercial operations in California.
The Company plans to assign one of these licenses, once obtained, to this newly acquired property, designated as a licensed cannabis delivery business under its Nug Avenue brand.
“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,” commented Jimmy Chan, CEO of Sugarmade. “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.”
About Sugarmade, Inc.
Sugarmade, Inc. (OTCMKTS:SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue, Lemon Glow and Budcars.
For more information, please visit www.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,"
Sugarmade Announces Closing of Acquisition of New Property to Serve as Second Licensed LA Nug Avenue Delivery Hub
Press Release | 08/17/2021
NEW YORK, Aug. 17, 2021 (GLOBE NEWSWIRE) -- via InvestorWire - Sugarmade, Inc. (OTCMKTS: SGMD) (“Sugarmade”, “SGMD”, or the “Company”), an emerging leader in the vertically integrated cannabis marketplace based in California, is excited to announce the closing of the Company’s acquisition of a property in Los Angeles that will serve as a new distribution/delivery hub for its Nug Avenue cannabis delivery segment.
This follows the Company’s recent announcement that it has signed a Memorandum of Understanding to obtain three non-storefront California Cannabis licenses from the Los Angeles Department of Cannabis Regulation, along with corresponding licenses from the California Bureau of Cannabis Control, which collectively will provide the licensing foundation for the opening of three new cannabis-related commercial operations in California.
The Company plans to assign one of these licenses, once obtained, to this newly acquired property, designated as a licensed cannabis delivery business under its Nug Avenue brand.
“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,” commented Jimmy Chan, CEO of Sugarmade. “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.”
About Sugarmade, Inc.
Sugarmade, Inc. (OTCMKTS:SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue, Lemon Glow and Budcars.
For more information, please visit www.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,"
Sugarmade Announces Closing of Acquisition of New Property to Serve as Second Licensed LA Nug Avenue Delivery Hub
Press Release | 08/17/2021
NEW YORK, Aug. 17, 2021 (GLOBE NEWSWIRE) -- via InvestorWire - Sugarmade, Inc. (OTCMKTS: SGMD) (“Sugarmade”, “SGMD”, or the “Company”), an emerging leader in the vertically integrated cannabis marketplace based in California, is excited to announce the closing of the Company’s acquisition of a property in Los Angeles that will serve as a new distribution/delivery hub for its Nug Avenue cannabis delivery segment.
This follows the Company’s recent announcement that it has signed a Memorandum of Understanding to obtain three non-storefront California Cannabis licenses from the Los Angeles Department of Cannabis Regulation, along with corresponding licenses from the California Bureau of Cannabis Control, which collectively will provide the licensing foundation for the opening of three new cannabis-related commercial operations in California.
The Company plans to assign one of these licenses, once obtained, to this newly acquired property, designated as a licensed cannabis delivery business under its Nug Avenue brand.
“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,” commented Jimmy Chan, CEO of Sugarmade. “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.”
About Sugarmade, Inc.
Sugarmade, Inc. (OTCMKTS:SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue, Lemon Glow and Budcars.
For more information, please visit www.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,"
Sugarmade Announces Closing of Acquisition of New Property to Serve as Second Licensed LA Nug Avenue Delivery Hub
Press Release | 08/17/2021
NEW YORK, Aug. 17, 2021 (GLOBE NEWSWIRE) -- via InvestorWire - Sugarmade, Inc. (OTCMKTS: SGMD) (“Sugarmade”, “SGMD”, or the “Company”), an emerging leader in the vertically integrated cannabis marketplace based in California, is excited to announce the closing of the Company’s acquisition of a property in Los Angeles that will serve as a new distribution/delivery hub for its Nug Avenue cannabis delivery segment.
This follows the Company’s recent announcement that it has signed a Memorandum of Understanding to obtain three non-storefront California Cannabis licenses from the Los Angeles Department of Cannabis Regulation, along with corresponding licenses from the California Bureau of Cannabis Control, which collectively will provide the licensing foundation for the opening of three new cannabis-related commercial operations in California.
The Company plans to assign one of these licenses, once obtained, to this newly acquired property, designated as a licensed cannabis delivery business under its Nug Avenue brand.
“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,” commented Jimmy Chan, CEO of Sugarmade. “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.”
About Sugarmade, Inc.
Sugarmade, Inc. (OTCMKTS:SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue, Lemon Glow and Budcars.
For more information, please visit www.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,"
Sugarmade Announces Closing of Acquisition of New Property to Serve as Second Licensed LA Nug Avenue Delivery Hub
Press Release | 08/17/2021
NEW YORK, Aug. 17, 2021 (GLOBE NEWSWIRE) -- via InvestorWire - Sugarmade, Inc. (OTCMKTS: SGMD) (“Sugarmade”, “SGMD”, or the “Company”), an emerging leader in the vertically integrated cannabis marketplace based in California, is excited to announce the closing of the Company’s acquisition of a property in Los Angeles that will serve as a new distribution/delivery hub for its Nug Avenue cannabis delivery segment.
This follows the Company’s recent announcement that it has signed a Memorandum of Understanding to obtain three non-storefront California Cannabis licenses from the Los Angeles Department of Cannabis Regulation, along with corresponding licenses from the California Bureau of Cannabis Control, which collectively will provide the licensing foundation for the opening of three new cannabis-related commercial operations in California.
The Company plans to assign one of these licenses, once obtained, to this newly acquired property, designated as a licensed cannabis delivery business under its Nug Avenue brand.
“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,” commented Jimmy Chan, CEO of Sugarmade. “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.”
About Sugarmade, Inc.
Sugarmade, Inc. (OTCMKTS:SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue, Lemon Glow and Budcars.
For more information, please visit www.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,"
Sugarmade Announces Closing of Acquisition of New Property to Serve as Second Licensed LA Nug Avenue Delivery Hub
Press Release | 08/17/2021
NEW YORK, Aug. 17, 2021 (GLOBE NEWSWIRE) -- via InvestorWire - Sugarmade, Inc. (OTCMKTS: SGMD) (“Sugarmade”, “SGMD”, or the “Company”), an emerging leader in the vertically integrated cannabis marketplace based in California, is excited to announce the closing of the Company’s acquisition of a property in Los Angeles that will serve as a new distribution/delivery hub for its Nug Avenue cannabis delivery segment.
This follows the Company’s recent announcement that it has signed a Memorandum of Understanding to obtain three non-storefront California Cannabis licenses from the Los Angeles Department of Cannabis Regulation, along with corresponding licenses from the California Bureau of Cannabis Control, which collectively will provide the licensing foundation for the opening of three new cannabis-related commercial operations in California.
The Company plans to assign one of these licenses, once obtained, to this newly acquired property, designated as a licensed cannabis delivery business under its Nug Avenue brand.
“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,” commented Jimmy Chan, CEO of Sugarmade. “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.”
About Sugarmade, Inc.
Sugarmade, Inc. (OTCMKTS:SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush™, NUG Avenue, Lemon Glow and Budcars.
For more information, please visit www.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,"
NEWS
Neutra Corp. Provides Strategic Update
KATY, TX / ACCESSWIRE / August 16, 2021 / Neutra Corp. (OTC PINK:NTRR) continues to make substantial progress in securing distribution for its wholly-owned subsidiary VIVIS' CBD products. Since announcing this strategy in January, Neutra management has successfully placed VIVIS in Festival Foods, a large 35 store regional supermarket chain.
Neutra is pleased to have been accepted in another west coast regional chain for product distribution. The name of the chain and specifics will be announced at a near future date once the product is in-store. VIVIS' national sales team that was engaged earlier this year remain in various stages of discussion with other nationwide and regional chains for distribution of VIVIS products. We reasonably anticipate positive announcements in the coming weeks and months.
Neutra management is also in discussions with distributors outside the traditional brick-and-mortar or online sales channels. These counterparties have household name recognition and international exposure. For competitive reasons, specifics will be shared later, but we remain very optimistic on the potential from this strategy.
Finally, we have been in discussions with a Clinical Research company that is looking to be acquired. This would bring another revenue stream to Neutra as well as the ability to have in-house clinical research backing VIVIS CBD products. Management has identified cleared and significant synergies between the two businesses.
"We continue to see increasing demand for VIVIS CBD products across the nation," said Neutra CEO Sydney Jim. "The traction that our sales force has increased since engaging them earlier this year. We hope to update you with good news and hope to bring shareholder value to our shareholders."
About Neutra Corp.
Neutra Corp. (NTRR) is an early-stage research and development company with a focus on bringing modern healthy living solutions to a multibillion-dollar market. Cutting-edge technologies within the nutraceuticals, food and drug, and environmental purification sectors are creating a new kind of world culture-one where in which consumers are demanding access to products that promote health and stave off potential health dangers. One of the nutraceutical sub-markets is the new thriving hemp-based CBD market, in which the Company intends to participate. For more information, visit the Company's website at http://www.neutrainc.com.
NOTICE REGARDING FORWARD LOOKING STATEMENT
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the company to differ materially from those expressed or implied by such forward-looking statements.
Neutra Contact:
NEWS
Neutra Corp. Provides Strategic Update
KATY, TX / ACCESSWIRE / August 16, 2021 / Neutra Corp. (OTC PINK:NTRR) continues to make substantial progress in securing distribution for its wholly-owned subsidiary VIVIS' CBD products. Since announcing this strategy in January, Neutra management has successfully placed VIVIS in Festival Foods, a large 35 store regional supermarket chain.
Neutra is pleased to have been accepted in another west coast regional chain for product distribution. The name of the chain and specifics will be announced at a near future date once the product is in-store. VIVIS' national sales team that was engaged earlier this year remain in various stages of discussion with other nationwide and regional chains for distribution of VIVIS products. We reasonably anticipate positive announcements in the coming weeks and months.
Neutra management is also in discussions with distributors outside the traditional brick-and-mortar or online sales channels. These counterparties have household name recognition and international exposure. For competitive reasons, specifics will be shared later, but we remain very optimistic on the potential from this strategy.
Finally, we have been in discussions with a Clinical Research company that is looking to be acquired. This would bring another revenue stream to Neutra as well as the ability to have in-house clinical research backing VIVIS CBD products. Management has identified cleared and significant synergies between the two businesses.
"We continue to see increasing demand for VIVIS CBD products across the nation," said Neutra CEO Sydney Jim. "The traction that our sales force has increased since engaging them earlier this year. We hope to update you with good news and hope to bring shareholder value to our shareholders."
About Neutra Corp.
Neutra Corp. (NTRR) is an early-stage research and development company with a focus on bringing modern healthy living solutions to a multibillion-dollar market. Cutting-edge technologies within the nutraceuticals, food and drug, and environmental purification sectors are creating a new kind of world culture-one where in which consumers are demanding access to products that promote health and stave off potential health dangers. One of the nutraceutical sub-markets is the new thriving hemp-based CBD market, in which the Company intends to participate. For more information, visit the Company's website at http://www.neutrainc.com.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the company to differ materially from those expressed or implied by such forward-looking statements.
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Lemon Glow Property Capable of Estimated 64 Tons in Annual Cannabis Flower Production
NEW YORK, Aug. 12, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Sugarmade, Inc. (OTCMKTS:SGMD) ("Sugarmade," "SGMD," or the "Company"), an emerging leader in the vertically integrated cannabis marketplace based in California, is pleased to provide current and prospective shareholders with an update on its recent acquisition, Lemon Glow Company, Inc. ("Lemon Glow"), which included all of Lemon Glow's assets, interests, property, and rights, including six-hundred-forty (640) acres of real estate (the "Property") located in Lake County, California, outside of the Commercial Cannabis Cultivation Exclusion Zones.
As described in the Company's Form 8-K filing produced this week, the Company filed a Current Report on Form 8-K on May 17 disclosing its Agreement and Plan of Merger (the "Merger Agreement") by and between Carnaby Spot Bay Corp, a California corporation and a wholly owned subsidiary of the Company ("Merger Sub"), Lemon Glow Company, a California corporation and Ryan Santiago (the "Shareholder Representative") on May 12, 2021, pursuant to which, upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub would merge with and into Lemon Glow, with Lemon Glow being the surviving corporation (the "Merger").
The Company further disclosed that, on May 14, 2021, the closing of the Merger (the "Closing") occurred in accordance with the terms of the Merger Agreement on May 14, 2021, and that the Merger was consummated on May 14, 2021 by the filing of a Certificate of Merger with the Secretary of State of the State of California, which was duly filed on May 14, 2021, at which time, the Merger became effective (the "Effective Time").
Subsequently, on May 25, 2021, the Company filed an Amendment on Form 8-K/A ("Amendment No. 1") to the Original Form 8-K to disclose that, on May 20, 2021, the Company received a notification from Secretary of State of the State of California stating that the Company's May 14th Certificate of Merger filing had been rejected due to certain technical deficiencies in the filing. In response, the Company disclosed in Amendment No. 1 that on May 24, 2021, the parties to the Merger Agreement entered into an Amendment to the Merger Agreement, which contained certain immaterial amendments to the original Merger Agreement in response to the comments from the Secretary of State of California received by the Company in connection with its original Certificate of Merger filing on May 14, 2021. On May 25, 2021, the Company re-filed with the Secretary of State of California for the Closing of the Merger.
The Secretary of State of California accepted the filing, and as a result, the Effective Time of the Merger was May 25, 2021, and the Merger was effective as of that date.
The Original Form 8-K and Amendment No. 1 included neither the audited financial statements of Lemon Glow nor the pro-forma unaudited financial statements, as required under Item 9.01 of Form 8-K. This Amendment No. 2 on Form 8-K/A to the Original Form 8-K ("Amendment No. 2") was filed this week to meet compliance standards and include the financial statement information required under Item 9.01 of Form 8-K in connection with the acquisition of Lemon Glow.
"We are pleased to report that we have been able to successfully comply with the requirements attached to this acquisition process," remarked Jimmy Chan, Sugarmade CEO. "Lemon Glow is a pivotal asset in our verticalization process because it represents a large-scale outdoor cannabis cultivation opportunity. The annual potential cultivation yield at the Property has been approximated at 4,000 pounds of dry trimmed cannabis flower per acre per year, which represents approximately 128,000 pounds, or 64 tons, of dry trimmed cannabis flower per year in total. We also stand to benefit from this acquisition because we gain very valuable personnel, including Lemon Glow's executive team, who will stay on and become core management in our cannabis cultivation, which positions Sugarmade's grow segment with a top management team with over 30 years of cannabis cultivation experience."
About Sugarmade, Inc.
Sugarmade, Inc. (OTCMKTS:SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. Our Brand portfolio includes CarryOutsupplies.com, SugarRush, NUG Avenue, Lemon Glow, and Budcars.
Lemon Glow is a development-stage company seeking to enter the marketplace for cannabis cultivation and cannabis products manufacturing, permitted under California law, on a 640-acre property in Lake County, 32 acres of which (the "Cultivation Site") have been designated for outdoor cannabis cultivation. At the Cultivation Site, Lemon Glow primarily plans outdoor cultivation of various cannabis strains during the regular agricultural growing season, which runs from approximately May through November in its geographic region.