Sugarmade Exploring Potential Move into Omakase Sushi and Cannabis Venture Space in West Hollywood LA
Company exploring new cannabis delivery hub potential linked to thriving omakase restaurant trend
MONROVIA, CA, March 16, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- Sugarmade, Inc. (OTC Pink: SGMD) ("Sugarmade" or the "Company"), an emerging company in the licensed cannabis sector, is excited to announce that the Company is exploring a possible joint venture with a well-established business to create access to the Los Angeles reservation-only omakase sushi restaurant marketplace.
The joint venture may include an on-site cannabis event area and cannabis delivery services hub.
Management believes there is an opportunity to create a new model with potentially wide-ranging implications for the LA-based cannabis marketplace and its relationship with the reservation-only dining event market.
“We believe this presents a tremendous opportunity for Sugarmade to break into a new market that aligns well with our established expertise and infrastructure,” commented Jimmy Chan, CEO of Sugarmade. “On-site cannabis consumption is still extremely rare at dining establishments in LA. The omakase phenomenon has become one of the defining trends in the restaurant industry over recent years. We believe this dovetails extremely well with the cannabis trend. A partnership in this area may open the door to further establishing Sugarmade cannabis products in the rapidly growing and vibrant LA metro marketplace.”
About Sugarmade
Sugarmade Inc. (OTC: SGMD) is a product and brand marketing company investing in operations with disruptive or hyper growth potential. We are headquartered in Monrovia, California, a suburb of Los Angeles. The company’s core strategic plan is centered on expanding its end-market access as a central player in the growing California cannabis delivery marketplace while developing its in-house cannabis production capacity to verticalize operations in the space. Through a combination of organic growth and strategic acquisitions, Sugarmade intends to develop a full farm-to-door vertically integrated cannabis business. Our Cannabis portfolio includes CarryOutsupplies.com, SugarRush, NUG Avenue, Lemon Glow and Budcars. For more information, please visit .
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-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others, such as but not limited to; economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition, uncontrollable forces of nature and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements.
Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
Corporate Contact:
Jimmy Chan
+1-(888)-982-1628
Investor Relations Contact:
EDM Media, LLC
Corporate Communications
IBN (InvestorBrandNetwork)
Los Angeles, California
310.299.1717 Office
