SinglePoint (OTCQB: $SING) Continues Expansion into Cannabis Industry as Proposed Legislation Favors Industry Growth
SinglePoint (OTCQB: $SING)
Continues Expansion into Cannabis Industry as Proposed Legislation Favors
Industry Growth
SEATTLE
- April 24, 2018 (Investorideas.com Newswire) SinglePoint Inc. (OTC:SING) announces the
latest development of its cannabis payment solutions platform alongside a
flurry of cannabis-related news released by members of various political
parties over the past week.
Since
2014 SinglePoint has been aggressively seeking opportunities in the cannabis
market. The company recently integrated a stand-alone point of sale terminal
designed to give merchants the ability to accept Bitcoin as a payment option.
Customers can now use their credit or debit card at the counter instead of
through a web-based app. SinglePoint's push to streamline payment processes and
make the cannabis purchase experience no different than using a credit card at
any other store complements recent efforts by political leaders seeking
cannabis reform.
Former
Speaker of the House Rep. John Boehner (R-Ohio), once an outspoken cannabis
antagonist, has now joined the board of a cannabis company with the statement
he believes cannabis should be de-scheduled so that medical studies may begin.
Colorado Republican Sen. Cory Gardner announced April 13 that President Donald
Trump promised he would support efforts to protect states that have legalized
marijuana. Most recently, Senate Minority Leader Chuck Schumer (D-N.Y.) threw
his weight behind legalizing marijuana and said he will soon be introducing a
bill to de-schedule the plant.
"The
legislation is long overdue based on … a bunch of different facts,"
Schumer said. "Ultimately, it is the right thing to do. Freedom. If
smoking marijuana doesn't hurt anybody else, why shouldn't we allow people to
do it and not make it criminal."
SinglePoint
founder and CEO Greg Lambrecht hailed the positive political messages and
growing support for the cannabis industry.
"This
is exactly what we have been waiting for and what the industry needs. As we
continue to develop solutions to help ease the banking issues, we welcome new
regulations that may make that easier such as de-scheduling the plant and
allowing banks to work with these businesses," Lambrecht said. "That
would allow SinglePoint to offer all of our payment solutions to cannabis
businesses."
SinglePoint
management believes cannabis-related businesses and all those working within
the industry will continue to grow and soon thrive under new regulations.
Public opinion polls show that 61 percent of respondents believe cannabis
should be legalized for adult use. Several top Democrats seen as possible
contenders in the 2020 presidential race are backing legislation to de-schedule
cannabis. The shift has marijuana activists and political operatives believing
many of the 2020 presidential candidates will support removing cannabis from
the Federal Substances Act.
Sen.
Bernie Sanders (I-VT), a 2016 presidential candidate widely considered a top
contender for the nomination in 2020, signed onto The Marijuana Justice Act, as
did Sen. Kirsten Gillibrand (D-N.Y.), another possible 2020 hopeful. Proposed
by another potential 2020 presidential contender, Sen. Cory Booker (D-N.J.),
the Act would remove the drug from the federal Controlled Substances Act,
voiding the uncertainty the federal government injects into cannabusiness and
deconstructing the final barriers to national legalization.
SinglePoint's
streamlined payment process helps cannabis retailers, dispensaries and
consumers in several, important ways. Customers can preload their wallet with
their credit card information, which brings additional efficiencies in the
checkout process. A customer that preloads a wallet will simply be able to
"send payment" to the merchant for the amount requested at the
register. Additionally, SinglePoint is tying this payment into its Last Mile
Delivery service. Delivery clients will already have the application
downloaded, which means that once an order is placed the customer will be able
to select a payment method and utilize a stored card or cryptocurrency.
About SinglePoint, Inc.
SinglePoint,
Inc (SING) is a technology and investment company with a focus on acquiring
companies that will benefit from the injection of growth capital and technology
integration. The company portfolio includes mobile payments, ancillary cannabis
services and blockchain solutions. Through acquisitions into horizontal
markets, SinglePoint is building its portfolio by acquiring an interest in
undervalued companies, 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:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint
https://www.linkedin.com/company/singlepoint
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint
https://www.linkedin.com/company/singlepoint
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.
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.
Corporate
Communications Contact:
NetworkNewsWire (NNW)
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 www.420cannabisinvestorideas.com
SinglePoint, Inc. (OTC: SING) is a featured company on Investorideas.com
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