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14.09.2017 16:00
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Sugarmade Prepares to Revolutionize the Seasoning and Spice Industry
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PR Newswire
CITY OF INDUSTRY, California, September 14, 2017
CITY OF INDUSTRY, California, September 14, 2017 /PRNewswire/ --
Sugarmade, Inc. (OTCQB: SGMD), today announces an important product expansion within the $13 billion global seasoning and spice industry via the signing of a Letter of Intent to significantly expand its product line and to acquire some of the seasoning industry's most important patents.
Sugarmade today announces the signing of a Letter of Intent with Seasoning Stix International, LLC to acquire the marketing rights to all Seasoning Stix products. The LOI also includes an option to purchase the entire company, its assets and rights to the three issued U.S. patents behind the Seasoning Stix products.
"Even though, according to industry analysts, the $13 billion market for seasonings continues to grow at nearly 5% per year, there have been very few new product introductions in decades. We think Sugarmade's initiative with Seasoning Stix can change this dynamic. We are already successfully marketing the Sriracha Seasoning Stix version of this product, with real Huy Fong Foods Sriracha Hot Chili Sauce, but through this pending arrangement we will be able to significantly expand our product offerings to potentially hundreds of additional blends," commented Jimmy Chan, CEO of Sugarmade.
Under the terms of the proposed agreement, Sugarmade will immediately begin marketing all of the additional Seasoning Stix blends, which will significantly expand the number of products offered by Sugarmade and its revenue base. Additionally, Sugarmade will be placing a number of large orders to build the inventory needed to meet expected demand.
Mr. Chan continued, "This intellectually property is very flexible and we feel represents the first revolution on the seasoning market in decades. With the Seasoning Stix technology the combination of blends is limited only by our imaginations. We will even be able to encapsulate other leading seasoning and spice blends into Seasoning Stix representing an entirely additional potential revenue stream for Sugarmade."
Seasoning Stix are an innovative way to season meat, fish, poultry and vegetables from the inside out. The product is so unique it has been awarded three U.S. patents. The Stix are made of seasoning and spices that are formed into a solid stick that is inserted into food prior to cooking. During the cooking process, Seasoning Stix changes from a solid to a liquid, infusing flavor from the inside out.
About Sugarmade, Inc. (OTCQB: SGMD)
Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade is a party to a license with Huy Fong Foods, Inc. and has an agreement with Huy Fong Foods, Inc. to use the licensed marks for the limited products and purposes permitted by the license. Seasoning Stix are protected by three issued U.S. patents, which are utilized by Sugarmade under agreement from Wyoming-based, Seasoning Stixs International, LLC. For more information on the Company's products, please visit http://www.Sugarmade.com. Information on Sriracha Seasoning Stix can be viewed at http://www.SrirachaStix.com. Information on Huy Fong Foods, Inc. can be viewed at www.huyfong.com.
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements.
Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
For inquiries please contact Sugarmade at:
+1(888)982-1628
info@SrirachaStix.com
SOURCE Sugarmade, Inc.
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