Brief: Sugarmade Executes On $40 Mln Agreement To Acquire Sky Unlimited Llc

Sugarmade

01/11/2018 12:33

Nov 1 (Reuters) - Sugarmade Inc  SGMD.PK :
    * SUGARMADE EXECUTES ON $40 MILLION DEFINITIVE AGREEMENT TO
ACQUIRE SKY UNLIMITED, LLC CREATING HYDROPONIC SUPPLY POWERHOUSE
    * SUGARMADE INC - SUGARMADE IS RAISING ITS REVENUE GUIDANCE
FOR
CALENDAR 2019 FROM $30 MILLION TO $70 MILLION
    * SUGARMADE INC - SUGARMADE EXPECTS THIS ACQUISITION TO BE
HIGHLY
ACCRETIVE TO COMMON SHAREHOLDER VALUE.
    * SUGARMADE INC - SUGARMADE WILL ASSUME ALL OPERATIONS,
BRAND
ASSETS, CUSTOMERS AND LIABILITIES OF SKY UNLIMITED, AND WILL
RETAIN ALL EMPLOYEES
    * SUGARMADE INC - TO ISSUE OWNERS OF SKY UNLIMITED TEN
MILLION
NON-REFUNDABLE SHARES OF SUGARMADE COMMON STOCK IN EXCHANGE FOR
A NON-SHOP PERIOD AGREEMENT
    * SUGARMADE INC - ENVISIONED THAT THE PAYMENTS OF CASH AND
COMPANY
SHARES WILL TOTAL $40 MILLION

Source text for Eikon:  ID:nPnbkv3xHa 
Further company coverage:  SGMD.PK 

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