PALM BEACH, Florida, June 7, 2017 /PRNewswire/ --
Cannabis, hempand marijuana cultivators are becoming more and more aggressive in the search for the newest and most efficient grow technologies and development services, including fertilizers, lighting, and hydroponic products for development of superior marijuana
Sugarmade, Inc. (OTCQB: SGMD) today announces the signing of supply agreement that consist accumulative of $3 million hydroponic supplies orders, which will be delivered over the coming 12-month period. As a result of these new orders, the new business to business website, http://www.CaliGrownSupplies.com - which launched last week, and other new product introductions, the Company is fulfilling its commitment to expand its business operations into the very fast growing hydroponic and growing supplies marketplace. Read this and more news for SGMD at http://www.marketnewsupdates.com/news/sgmd.html
Mr. Jimmy Chan, CEO, commented, "This represents a major milestone for Sugarmade and a huge jumpstart into the new market segment. Our other business divisions are already producing strong results, so these new orders will be additive to our already growing level of success. We are expecting calendar 2017 to be a terrific year as we expand further into the market for hydroponic supplies. We are able to take on this new business as a result of our balance sheet restructuring, which is ongoing, and new working capital that has come into the Company. This has added a significant amount of flexibility to our business and will allow us to further expand our operations." Under the terms of the twelve-month agreement, Sugarmade will manufacturer and distribute various hydroponic supplies, which will be placed into various retail and online sales venues.
The new business initiative capitalizes on the vast experience Sugarmade's staff has gained via the operation of its CarryOutSupplies.com division, which services more than 3,000 business customers. The Company has recently announced that the CarryOutSupplies.com division continues to grow with strong order flow and record web traffic.
In other positive market trading yesterday for the sector:
Players Network (OTCQB: PNTV) closed up 30.70% on Tuesday with over 14 million shares traded by the market close. The company recently announced the completion of Green Leaf Farm Holdings in North Las Vegas. Green Leaf Farms Holdings, LLC (Green Leaf), a subsidiary of PNTV, contracted mCig Inc. (OTCQB: MCIG) to develop and buildout their 27,000 sq. ft. facility in North Las Vegas. mCig completed the first phase of development, which included two vegetation and flower rooms, an extraction lab and all the needed infrastructure to support the facility. In addition, mCig worked with the City of North Las Vegas and the State of Nevada to ensure Green Leaf was 100% compliant. mCig has already completed the design, structural engineering and technical specifications for the remaining build out of the full 27,000 sq. ft. facility.
22nd Century Group, Inc. (NYSE: XXII) closed up 12.33% on Tuesday at $1.64 with a volume of over 5.3 million shares traded. 22nd Century Group recently announced the Company's research collaboration with North Carolina State University has yielded several new Very Low Nicotine (VLN) tobacco varieties that contain no foreign DNA and no trace of genetic modification. The new Very Low Nicotine varieties are ideally suited for use in the Company's X-22 smoking cessation product in development and will also form the basis of other unique 22nd Century VLN products.
PotNetwork Holding, Inc. (OTC: POTN) closed up 8.22% on Tuesday after trading over 10.6 million shares by the market closed. PotNetwork announced yesterday that its wholly owned subsidiary, Diamond CBD, Inc., after an exponentially record breaking month in April, continued into May riding on a consistently rising wave of popularity. "It's very gratifying to experience such ongoing success. It's evident that such efforts put forth to bring our products into the public eye are yielding strong long-term results. The level of product satisfaction appears to be generating a robust level of repeat sales. We continue to be gratified and excited by our growth," stated Maria Gomez, Regional Vice President of Sales for Diamond CBD, Inc.
Terra Tech Corp. (OTCQX: TRTC) closed up 6.25% on Tuesday with a volume of 3.2 million shares traded on the day. Terra Tech recently announced Michael Vande Vrede, Steven Vande Vrede, and Amy Almsteier, one of the original co-founders of the Company, have resigned from Terra Tech's Board of Directors, effective June 1, 2017. Derek Peterson, Kenneth Vande Vrede, Michael Nahass, Kenneth Krueger and Steven Ross will remain on the Board of Directors. The Company plans to add more independent directors to the Board to enhance its independent oversight by incorporating best practices in corporate governance.
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