OTC-BB:SGMD

Sugarmade Appoints New Board and Audit Committee Member Following Binding LOI to Acquire $70M in Real Estate and Launch Multimedia Flex Space Brand

Retrieved on: 
Thursday, March 2, 2023
Audit committee, Saks Fifth Avenue, Consultant, Knowledge, California Department of Transportation, Independent director, GTE, Audit, Real estate agent, OTC Markets Group, Venture capital financing, CPA, Verizon Communications

Mr. Kenney accepted that invitation and the Board has established a formal resolution confirming his new role.

Key Points: 
  • Mr. Kenney accepted that invitation and the Board has established a formal resolution confirming his new role.
  • Kenney, 58, is an experienced CPA and licensed Real Estate Broker in the State of California.
  • Starting in 2010, he joined the board of a local non-profit where he sat for 10 years.
  • I am honored to accept your invitation and look forward to working with you and the other members of the Board and Audit Committee.

Sugarmade Executes Binding LOI to Create Dynamic New PubCo Targeting Hospitality, Entertainment, and Multimedia Production Markets

Retrieved on: 
Thursday, February 23, 2023
Transaction, Paper, OTC Markets Group, OTC, Software, Eye, LOI, Hilton Garden Inn, Music, Multimedia, Treasure Mountain, Holiday Inn, Animation, Commercial property

NEW YORK, Feb. 23, 2023 /PRNewswire/ -- Sugarmade, Inc. (OTC Pink: SGMD) ("Sugarmade," "SGMD" or the "Company"), a product and branding marketing company investing in operations and technologies with disruptive potential, is pleased to announce it has entered into a Binding Letter of Intent (the "LOI"), dated February 21, 2023, to acquire the real estate assets and businesses of Treasure Mountain Holdings, LLC ("Treasure Mountain"), and Victorville Treasure Holdings, LLC ("Victorville Treasure").

Key Points: 
  • $70 million in real estate holdings and the launch of a new state-of-the-art multimedia flex space brand, TheMediaBox.
  • Several potential structures and scenarios for the Proposed Transactions have been identified by both parties.
  • Real estate assets included in the LOI are the Hilton Garden Inn Palm Springs/Rancho Mirage and the Holiday Inn Victorville.
  • Any transaction would be subject to board and equity holder approval of both companies, regulatory approvals, and other customary conditions.