Sugarmade has recently acquired Lemon Glow Company, including six-hundred-and-forty (640) acres of real estate located in Lake County, California, outside of the Commercial Cannabis Cultivation Exclusion Zones.
“We are pleased to report that we have been able to successfully comply with the requirements attached to this acquisition process,” remarked Jimmy Chan, Sugarmade CEO. “Lemon Glow is a pivotal asset in our verticalization process because it represents a large-scale outdoor cannabis cultivation opportunity. The annual potential cultivation yield at the Property has been approximated at 4,000 pounds of dry trimmed cannabis flower per acre per year, which represents approximately 128,000 pounds, or 64 tons, of dry trimmed cannabis flower per year in total. We also stand to benefit from this acquisition because we gain very valuable personnel, including Lemon Glow’s executive team, who will stay on and become core management in our cannabis cultivation, which positions Sugarmade’s grow segment with a top management team with over 30 years of cannabis cultivation experience.”