NEW YORK, April 05, 2019 (GLOBE NEWSWIRE) — via CannabisNewsAudio – Sugarmade Inc. (OTC:SGMD) announces the availability of a CannabisNewsAudio Publication titled, “Hemp Market Drives Hydroponics Growth.”
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Approximately 16,000 acres of hemp were planted in Kentucky last year, and this is expected to nearly triple to 42,000 acres in 2019. The state has already received five times more applications to grow hemp this year than last. Sugarmade is catering to this boom through a supply agreement with Kentucky-based Hempistry Inc., which will help Hempistry achieve the nearly tenfold increase in hemp growing it has planned this year.
Sugarmade is also developing strong distribution channels in California, one of the first states to change its laws and embrace the rise of hemp. California’s large population and positive attitude towards CBD and hemp makes it another prime target for expansion.
About Sugarmade Inc.
Sugarmade Inc. is a product and brand marketing company investing in products and brands with disruptive potential. For more information, visit the company’s website at www.Sugarmade.com.
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This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.