SinglePoint (OTC: $SING) Expands Roster of Strategic Agreements and Joint Ventures, Covers Upcoming Key Initiatives in Recap of a Successful 2017
SinglePoint (OTC: $SING)
Expands Roster of Strategic Agreements and Joint Ventures, Covers Upcoming Key
Initiatives in Recap of a Successful 2017
SEATTLE
- December 12, 2017 (Investorideas.com Newswire) SinglePoint, Inc. (OTC:SING) today announces
key advances in its corporate mission with the launch of additional joint
ventures and the closing of new deals within existing agreements. SinglePoint
has achieved considerable growth in 2017, and management today also provides a
recap of achievements over the last year, as well as details key initiatives
for 2018.
Strategic Agreements and Joint Venturesz
Strategic
acquisitions and partnerships play an integral role in SinglePoint's expansion
strategies. The Company is pleased to report that it has formalized its
previously announced joint-venture agreement and made the first payment to
AppSwarm (SWRM) to start development on a proprietary delivery application that
will enable licensed delivery services and licensed dispensaries to safely make
in home deliveries. This agreement specifically strengthens SinglePoint's
position in the cannabis and cryptocurrency markets.
SinglePoint
has also signed an agreement with Global Payout (GOHE), a leading provider of
comprehensive and customized financial technology solutions for domestic and
international organizations, to advance and streamline the process involving
the delivery of payment applications. Global Payout's majority owned subsidiary
MoneyTrac Technology, Inc. ("MTRAC") is at the forefront of
developing a variety of payment solutions within the multibillion dollar
cannabis industry and has executed a number of partnerships in recent months
that has significantly expanded their network within one of the fastest growing
industries. It is SinglePoint's intent to leverage its expertise in mobile
payments and other mobile offerings to further optimize MTRAC's technology
platform and bring additional value to their services.
"Through
strategic joint ventures and inside development of applications we are pushing
hard on providing a compliant solution to the cannabis industry. Our team and
others have worked well in collaboration, and believe we are not far away from
an official launch of this solution in the first quarter of 2018. This will be
a major step for SinglePoint and our partners," states SinglePoint
President Wil Ralston.
SinglePoint
also recently entered in a multi-phase joint venture with Smart Cannabis Corp.
(SCNA). The Company has identified this joint venture as another opportunity to
make a big move into the State of California before it fully legalizes
marijuana in January 2018. This move is projected to boost California's
contribution to the U.S. marijuana industry (expected to reach $50 billion
annually by 2026) by $7 billion. Smart Cannabis, whose products are automated
greenhouse systems, and a unique SMARTAPP software automation and monitoring
system, is one of the few profitable companies in the cannabis market sector. Smart
Cannabis Vice President Don Smith said, "Our joint venture with
SinglePoint provides both companies a unique opportunity to capture a large
marketshare of the explosive commercial cultivation market in California."
SinglePoint has already acquired one company in California and has invested in
another.
End of Year Recap, Forecast for Remainder of 2017
SinglePoint
entered into a rapid pace of growth at the beginning of 2017, and this month
achieved a corporate milestone of notching a $100 million-dollar market cap.
Additionally, SinglePoint has brought in just over $1 million in funding with
access to an additional $3 million. Solidifying the financials SinglePoint has
increased revenue and assets throughout 2017 and anticipates significant
increases throughout 2018.
SinglePoint's
management team is highly optimistic that the Company will continue to see
significant revenue growth through the end of the fourth quarter, as it
currently has many opportunities in the pipeline. This momentum is due to
increased deal flow as the Company has grown throughout the cannabis and
cryptocurrency verticals.
Most
recently SinglePoint entered into negotiations with a transactional bitcoin
platform expected to add considerable value to the Company and its payments
offerings. This week, management will head to Los Angeles to kick off its
bitcoin payments platform and take advantage of networking opportunities for
possible partnerships and acquisitions.
Recognizing
the value of multimedia to brand awareness, SinglePoint is filming a commercial
to showcase the bitcoin solution. Once production is complete, the Company
plans to launch a national ad campaign to increase awareness for consumers and
drive new customers to utilize the platform.
SinglePoint
has also sponsored an event in which dispensary and cultivators are the main
attendees. To sign new accounts, SinglePoint will run demos of its bitcoin
payments solution and aforementioned SMART APP recently licensed from Smart
Cannabis Corp.
Pivoting
from its many successes in 2017 and its improved corporate and financial
position, SinglePoint forecasts a significant increase in revenues at the end
of the fourth quarter.
Outlook for 2018
As
noted above, SinglePoint manages an aggressive expansion strategy, and has
signed multiple joint ventures and agreements that management believes will
provide fruitful results. Acquisitions have been a powerful catalyst of
corporate growth for SinglePoint, and management is gearing up to make
additional acquisitions and plans to invest a significant amount of equity and
cash into additional companies in 2018.
As
the Company pursues continued growth through acquisitions and internal
developments, management remains bullish on bitcoin and blockchain technologies
that solve key issues in the cannabis markets. Capturing its share of
opportunity in these markets, SinglePoint will look for companies to acquire
and partner with to bring solutions to this major market.
About SinglePoint Inc.
SinglePoint,
Inc. (SING) has grown from a full-service mobile technology provider to a
publicly traded holding company. Through diversification into horizontal
markets, SinglePoint is building its portfolio by acquiring an interest in
undervalued subsidiaries, thereby providing a rich, diversified holding base.
Through its subsidiary company SingleSeed the company is providing products and
services to the cannabis industry.
Connect on social media at:
Forward-Looking
Statements
Certain
statements in this news release may contain forward-looking information within
the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under
the Securities Exchange Act of 1934, and are subject to the safe harbor created
by those rules. All statements, other than statements of fact, included in this
release, including, without limitation, statements regarding potential future
plans and objectives of the Company, are forward-looking statements that
involve risks and uncertainties. There can be no assurance that such statements
will prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements.
Technical
complications, which may arise, could prevent the prompt implementation of any
strategically significant plan(s) outlined above. The Company undertakes no
duty to revise or update any forward-looking statements to reflect events or
circumstances after the date of this release.
Contact:
SinglePoint,
Inc.
Greg Lambrecht
602.481.1544
Greg Lambrecht
602.481.1544
Communications
Contact:
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New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Disclosure: SinglePoint, Inc. (OTC:
$SING) is featured on the 420 Cannabis Investor Ideas of 2017 at
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