Sugarmade, Inc. signed a letter of intent to acquire Flagship Location of Hydro4Less.
January 22, 2019
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Sugarmade, Inc. (OTCPK:SGMD) signed a letter of intent to acquire Flagship Location of Hydro4Less for $5 million on January 23, 2019. Pending the signing of a definitive agreement, Sugarmade will issue $5 million of its common shares. Additionally, via the pending transaction, Sugarmade will gain an option, at an acquisition price to be determined later, to purchase two additional Hydro4Less retail operations. This single location acquisition would be accretive to earning for Sugarmade.
Sugarmade, Inc. is a product and branding marketing company. The Company operates through two segments: paper and paper-based products and cannabis products delivery. The paper and paper-based products segment focuses on supply of disposable products to the quick-service restaurant and as an importer and distributor of non-medical personal protection equipment to business and consumers, via its Carry Out Supplies subsidiary. Carry Out Supplies is a producer and wholesaler of custom printed and generic supplies. 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. The Company also focuses on investing in cannabis real estate, cultivation, and wholesale sectors vs. cannabis retail operations. It is also engaged in selected cannabis and hemp projects. Its subsidiaries include SWC Group, Inc., NUG Avenue, Inc., and Lemon Glow Company, Inc.
SUGARMADE, INC. 