Sugarmade, Inc. (OTCQB: SGMD) is engaged as a product and brand marketing company, which has a variety of products ranging paper-based items to cannabis technologies. Shares of the product and marketing company are rallying 22%, through early trading on Tuesday, January 24, 2017. Over the past month, Sugarmade, Inc. has seen average daily volume of 1.04 million shares. However, volume of 1.33 million shares or dollar volume of $83,178, has already exchanged hands through early trading Tuesday.
Shares of Sugarmade, Inc. are rallying Tuesday, after the company announced that it has acquired the manufacturing rights for SmelPro cannabis transportation technology. SmelPro is designed to eliminate all odors for safe and reliable cannabis transportation. The system has a proprietary tri-liner polyamide container, with carbon filtration. Here is the full press release detailing of the manufacturing rights acquisition:
Sugarmade, Inc. Press Release:
CITY OF INDUSTRY, California, January 24, 2017 /PRNewswire/ –Sugarmade, Inc. (SGMD) today announces the signing of a new contract to become the exclusive manufacturer of the SmelPro™ cannabis transport system, which enables nearly smell-proof and discrete shipping of cannabis. Additionally, the company has acquired an option to purchase the Company marketing the innovative product.
The SmelPro™ product is a significant improvement over currently available transport units used in the cannabis sector. SmelPro™ utilizes the proprietary polyamide sandwiched tri-liners developed for Sugarmade’s CannaShroud product, combined with active carbon filtration to virtually eliminate all odors. The units are designed to be easy to carry, or to be worn as a backpack, and will initially be available in a choice of three colors, plus camouflage.
Jimmy Chan, CEO of Sugarmade commented, “We worked for months with our factory contacts to design advanced features into SmelPro™. All closures utilize very low airflow technology, but to further reduce odor we added a unique Velcro closure. We also designed SmelPro™ with quality and field survivability in mind by using ultra-high quality materials and reinforcements. Thus, we are confident users will get years of service out of SmelPro™. All of our units from our initial manufacturing run are already spoken for and interest is strong. We are so excited about this product, we also acquired rights not only manufacture, but also rights to acquire the entire company and all of its intellectual property.”
Sugarmade recently announced two other new products in the cannabis packaging sector, CannaShroud™, which is a unique security-oriented odor control transport system and DabBox, a unique concentrate packaging product for processors and dispensaries. The Company has begun receiving orders for both products with shipments from manufacturing sites expected this week.
About Sugarmade, Inc. (SGMD)
Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade’s brands include CarryOutSupplies.com, Sugarmade Tree Free Paper, FreeHand ThumbTray and CannaShroud™, the world’s first Cannabis specific shipping systems. During early 2017, the Company will be launching Sriracha Stix, a revolutionary culinary seasoning product under official license from Irwindale, California-based Huy Fong Foods, Inc., the maker of Sriracha Hot Chili Sauce. For more information on the Company’s products, please visit http://www.Sugarmade.com.