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

Proposed Transaction involves $70 million in real estate holdings and the launch of new state-of-the-art multimedia flex space brand, TheMediaBox

NEW YORK, Feb. 23, 2023 /PRNewswire/ -- Sugarmade, Inc. (OTCPink: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").