Singlepoint, Inc. Anticipates Success for Cannabis Mobile Payments in Light of U.S. Government's Issuance of Rules for Banks ...
February 14 2014 - 4:03PM
Marketwired
Singlepoint, Inc. Anticipates Success for Cannabis Mobile Payments
in Light of U.S. Government's Issuance of Rules for Banks on
Dealing With Legal Marijuana Vendors
PHOENIX, AZ--(Marketwired - Feb 14, 2014) - Singlepoint, Inc.
(OTC: SING), a state-of-the-art mobile technology company and
full-service mobile marketing company that has recently announced
entry into the mobile payment systems for the medical marijuana
industry, is pleased to announce that the Justice Department and
U.S. Treasury have published documents issued to mitigate concerns
for banks in doing business with state-legal marijuana
companies.
Singlepoint CEO Greg Lambrecht is pleased with the timely news
as it directly impacts the likelihood of success for the launch of
Singlepoint's Mobile Payment technology, which will include an
array of products for marijuana industry players. "This is big
news," he states. "Only a month ago, U.S. Attorney General, Eric
Holder, stated that the Obama administration would be announcing
regulations to make it easier for banks to do business with
marijuana vendors, and today we get news that further eases bank
concerns in terms of accepting banking business from
Marijuana-centric companies."
He continues, "This impacts us directly in terms of overall
potential for success in the Cannabis industry as we have
launch-ready products positioned to improve overall efficiency for
both buyers and sellers of legalized (State) Marijuana, including
our mobile payments IP."
In light of the recent USDOJ news, Singlepoint looks to
strategically announce other products it has developed and/or
planned for development to service the rapid-growing legalized
Marijuana industry.
Medical marijuana is now legal in 20 states and the District of
Columbia. Of those states, Washington and Colorado have legalized
marijuana for recreational use. ArcView Market Research projects
the legal marijuana industry has the potential to reach $10.2
billion by 2018 as more states legalize cannabis.
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About Singlepoint,
Inc. Headquartered in Phoenix, AZ, Singlepoint, Inc. is a
state-of-the-art mobile technology company and full-service mobile
marketing agency. We operate a best-in-class mobile commerce and
communication platform specifically designed to serve the needs of
the non-profit community as well as the for profit companies. We
make any campaign instantly interactive via the mobile phone. This
functionality allows our clients to conduct business transactions,
accept donations and engage in targeted communication campaigns
with their customers/donors through any mobile devices. Send more
messages, create more awareness, and raise revenues and
donations.
For more information see www.singlepoint.com
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.
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