CannabisNewsBreaks – Sugarmade, Inc. (SGMD) to Expand BudCars into Southern California Marketplace Through Acquisition of Two Greater-LA Locations
Apr 16, 2020
Sugarmade (OTCQB: SGMD), together with its BudCars Cannabis Delivery Service, today announced the expansion of BudCars into the Southern California marketplace through the acquisition of two locations in the greater Los Angeles area. According to the update, the company’s Sacramento locations have been experiencing dramatic growth, with revenues consistently increasing 10% week-over-week, driven by exploding demand for contactless delivery of cannabis products due to the coronavirus lockdown. At these locations, the company now expects to surpass $30 million in annualized revenues. “Our Sacramento locations will pass the $10 million mark for annualized sales within the next 60-90 days,” Sugarmade CEO Jimmy Chan stated in the news release. “The growth has been so dramatic that we have had to drastically revise our expectations to the upside, which demands expansion, both in terms of staff and fleet in Sacramento, and in terms of regional expansion into Southern California. As a result, we are acquiring two distribution hub locations in the LA area with cannabis licenses included so we can hit the ground running.”
To view the full press release, visit http://cnw.fm/WfMP3
About Sugarmade
Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. More information on Sugarmade can be accessed at: www.Sugarmade.com. Sugarmade sees opportunities in business operations that combine the best areas of on-demand consumer distribution with certain areas of synergistic manufacturing and packaging to create a business model that capitalizes on the many changes in the cannabis industry. The company has made agreements with several market participants, which will be announced within Q1 and Q2 of Calendar Year 2020. The company views these opportunities as very scalable and capable of producing strong revenue growth for the company.
NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SUGAR
About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
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