Smart Cannabis and SinglePoint (OTC: $SING) Finalize Multifaceted Joint Venture Agreement
Smart Cannabis and SinglePoint (OTC: $SING) Finalize Multifaceted Joint Venture Agreement
SACRAMENTO, Calif. - December 20, 2017 (Investorideas.com
Newswire) Smart Cannabis Corp, (SCNA), and SinglePoint Inc., (OTC:SING),
announced today that they have formalized the letter of intent signed earlier
this month into a multifaceted joint venture and co-marketing agreement.
Smart
Cannabis Corp, one of the fastest growing and most profitable companies in the
cannabis, agritech and organic farming market. The company provides advanced
eco-friendly greenhouse systems unmatched at any price; coupled with state of
the art automation control systems utilizing the company's SMARTAPP mobile
control system.
Under terms of the agreement, SinglePoint has
signed a license and representation agreement to distribute Smart Cannabis'
SMARTAPP automation software product, and soon-to-be-released "Track and
Trace Software System," for the cannabis marketplace. These software
platforms are a natural add-on extension to SinglePoint's recently announced
cybercurrency payment processing system.
The agreement also provides for the companies to
invest development resources that will extend cybercurrency transactions so
that commercial scale cultivation clients can track and transact their business
with clients using blockchain technology and SinglePoint's cybercurrency
payment portal. SinglePoint will also work intimately with Smart Cannabis to
effectively implement Blockchain technology into their "Track and Trace
Software System." This collaboration reaches a massive cannabis market
that produced a reported $6.7B in sales in 2016, and is projected to be in
excess of $50B by 2020.
"We are extremely excited by the synergy we
share with Smart Cannabis Corp. We believe with our teams collaborating on
projects we will quickly bring solutions to fruition. With the data Smart
Cannabis Corp collects through their Track and Trace Software system,
SinglePoint will be able to start building a blockchain platform giving further
insight in the cultivation and sale of cannabis related products," states
Wil Ralston President, SinglePoint.
Don Smith, Vice President of Smart Cannabis Corp.,
stated "Our relationship with SinglePoint is a game changer. The cannabis
industry has not yet begun to see sophisticated companies that are capable of
collaboration, joint investment, and synergy like we're doing. Both companies
have proven their ability to execute and perform in joint venture arrangements
which is critical to effectively thrive. We're thrilled to collaborate with
SinglePoint, an ideal match for our business development activities."
As stated previously, the joint venture is a
multi-faceted agreement. The companies intend to announce the next phase of
their relationship in the near future. In the meantime, they are aligning their
marketing strategies in preparation for cannabis legalization in California
next month.
About Smart Cannabis
Smart Cannabis Corp., (SCNA) is a public equity corporation focused on the advanced agriculture and
cannabis industries with plans to grow through acquisition, strategic
alliances, and proprietary intellectual property. The company's wholly owned
subsidiary Next Generation Farming Inc. provides turnkey commercial SMART
greenhouse and automation systems that improve yields and decrease water
consumption for cultivators of organic food and cannabis crops. The company's
websites are: http://smartcannabis.com http://nextgen.farm.
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.
Disclaimer:
The
Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public
news releases. Statements, which are not historical facts, are forward-looking
statements. The company, through its management, makes forward-looking public
statements concerning its expected future operations, performance and other
developments. Such forward-looking statements are estimates reflecting the
company's best judgment based upon current information and involve a number of
risks and uncertainties, and there can be no assurance that other factors will
not affect the accuracy of such forward-looking statements. It is impossible to
identify all such factors. Factors which could cause actual results to differ
materially from those estimated by the company include, but are not limited to,
government regulation; managing and maintaining growth; the effect of adverse
publicity; litigation; competition; and other factors which may be identified
from time to time in the company's public announcements.
Contact:
Don
Smith, Vice President, 888-589-3739
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