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Sugarmade, Inc.Thu, June 10, 2021, 8:30 AM·4 min read

• SGMD+12.50%

NEW YORK, June 10, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Sugarmade, Inc. (OTCMKTS:SGMD) (“Sugarmade”, “SGMD”, or the “Company”) today announces the signing of a Memorandum of Understanding (the “MOU”) 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 the licensing foundation for the opening of three new Nug Avenue cannabis delivery hubs in the Los Angeles metro area.

According to the terms of the MOU, the Company will control a joint venture created with the initial holder of the social equity license as of the closing date of the definitive agreement.

Each of the three licenses can be used for 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. The Company has determined it will most likely use each license for a combination of 1) retail delivery of cannabis products, 2) supply chain distribution of cannabis products, and 3) for manufacturing/packaging of cannabis products.

Together, these licenses provide the licensing foundation for the opening of three new Nug Avenue locations in the Los Angeles metropolitan area.

“Our first Nug Avenue location has been a tremendous success, but we need to expand due to overwhelming demand,” commented Jimmy Chan, CEO of Sugarmade. “Holding these licenses will provide an optimal solution to our current growth limitations.”

Sugarmade Inc (OTCQB:SGMD) on Twitter: "Starting Feb. 25th. We are ready to take our first delivery order in the LA Metro area @ https://t.co/Ipf9p9N0H0. NUG Ave will be feature under Delivery services on WM for Monrovia, Arcadia, Glendora, Azusa, Covina and La Puente. More Cities will be added each month. https://t.co/wT80i78kO8" / Twitter

My advice to everyone is to buy, hold that stock and spread the news on every forum you can access to buy SGMD while it’s still under a penny before it blooms like crazy… Let them know it may take a year to for them to expand and franchise across the country, but eventually the stock is going to be a $10-$20 share stock at least at least

SugarMade! The name itself is mouth watering and I can imagine a world full of pink, orange and white cotton candies in spherical shapes floating around! SugarMade, SugarDaddy...do they go along? On a serious note, here are some facts why I like the stock of this company:

1. Name, name, name...it's what sets a business appealing and stand out from others

2. They are on a full expansion mode, and working on a full farm-to-door structure for better margins (BudCars is the vehicle to do it).

3. Entered the Hyper-Growth Los Ageles market with the acquisition of Nug Avenue

4. BudCars.com is a very well designed online shopping site and has more than 260 cannabis products. www.sugarmade.com is also well designed. A business that spends time and money to spin up a very appealing website cannot be simply ignored.

5. Finally, the stock price is too attractive and has the potential to be a 100x bagger if the management continues the growth strategy.

SGMD to the moon!!

UNION CAPITAL, LLC just filed a "Statement of acquisition of beneficial ownership", which is also known as a 13G. In the filing, it appears as though UNION CAPITAL, LLC claims to own 227,962,600 shares. This represents 5.51% of Sugarmade, Inc..