Company cites Growing Demand in Cannabis Marketplace
Sugarmade, Inc. (OTC: SGMD), one of the largest publicly traded cannabis-related hydroponics supply companies, has announced 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.”
Sugarmade’s new location will be at 750 Royal Oaks Drive, Suite 108, Monrovia, CA 91016.