PALM BEACH, Florida, June 1, 2017 /PRNewswire/ --
Sugarmade, Inc. (OTCQB: SGMD) today announces a major business expansion through the introduction of CaliGrownSupplies.com, a new division of the Company targeting the fast growing hydroponic supply sector. The focus of the new business unit will be on business-to-business e-commerce, and manufacturing and distribution of hydroponic-related supplies. Read this and more news for SGMD at http://www.marketnewsupdates.com/news/sgmd.html.
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.
"We have been working on bringing CaliGrownSupplies.com on line for the past year and we are excited about the launch," commented Jimmy Chan, Sugarmade's CEO. "This type of business is not new to us. Since 2004, we have been a significant provider of business-to-business e-commerce and we now plan to use this experience to further expand our operations in the hyper-growth hydroponic related markets. It's an excellent area of growth for the Company and its employees and investors." Sugarmade plans aggressive growth in the number of products available for sale on the site with additions expected every few weeks through the end of the year.
In other positive market trading yesterday for the sector:
Hemp Inc. (OTC: HEMP) closed up over 5% on Wednesday trading over 13.7 Million shares by the market close. Hemp, Inc. announced yesterday that its CO2 Supercritical Extraction equipment has been delivered to its industrial hemp processing plant in Spring Hope, North Carolina. The company purchased the industrial NuAxon Tech CO2 Supercritical extractor from NuAxon BioScience, manufacturer and the producer of the world class, large capacity CO2 Supercritical Extraction equipment, two months ago through a joint venture with Freedom Leaf, Inc. (OTC:FRLF), NuAxon's global exclusive distributor for the cannabis/hemp industry.
OWC Pharmaceutical Research Corp. (OTCQB: OWCP) closed up over 6% on Wednesday at $0.72 trading over 1.6 Million shares by the market close. OWC Pharmaceutical Research Corp. and mediq Innovation Partners announced yesterday an agreement for the introduction of OWCP's active cannabinoid-based topical psoriasis cream to the German market. Frankfurt, Germany-based mediq has extensive experience, knowledge and a successful track record in enabling Israel-based companies to penetrate the European markets.
MassRoots, Inc. (OTCQB: MSRT) closed up over 5% also on Wednesday at $0.49 trading over 1/2 Million shares by the market close. MassRoots, based in Denver and a leading technology platform for medical cannabis patients and businesses, announced that today Sohum Shah, Director of Investor Relations, will present live at VirtualInvestorConferences.com on June 1, 2017 10:45 AM ET.
InMed Pharmaceuticals Inc. (OTCQB: IMLFF) (CSE: IN) closed up over 5% on Wednesday at $0.31 trading over 700,000 shares by the market close. InMed Pharmaceuticals, Inc., a biopharmaceutical company specializing in the research and development of novel, cannabinoid-based drug therapies, announced yesterday the closing of its previously announced public offering (the 'Offering'). Pursuant to the Offering, the Company issued 12,788,000 units (the 'Units') at a price of $0.45 per Unit, for aggregate gross proceeds to InMed of $5,754,600. The Offering was completed with a syndicate of underwriters led by Canaccord Genuity Corp. and including Eight Capital along with Roth Capital Partners, LLC serving as placement agent for sales of Units in the United States (collectively, the 'Underwriters'). The 12,788,000 Units issued include 1,668,000 Units issued and sold pursuant to the over-allotment option granted by the Company to the Underwriters, which was exercised in full.
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