SinglePoint, Inc. Acquires GreenStar Payment Solutions, Inc. as Wholly Owned Subsidiary
October 15 2014 - 6:00AM
InvestorsHub NewsWire
Phoenix, AZ - October 15, 2014 - InvestorsHub
NewsWire - SinglePoint,
Inc. (OTC:
SING) is pleased to announce that it has finalized the
acquisition of GreenStar Payment Solutions, Inc. from its joint
venture partners, Advanced Content Services and GreenHouse Payment
Solutions, LLC with common shares in SinglePoint used as the
primary form of consideration.
SinglePoint CEO Greg Lambrecht decided, in the
interest of investors and success of the business, to buy out the
two partners. The decision was made in orderto streamline business
operations and increase revenues per transaction.
SinglePoint CEO Greg Lambrecht states, “We
entered into the GreenStar Payment Solutions joint venture to speed
our entry into the cannabis space. We now feel comfortable in our
connections and knowledge to move forward in being a leading
payment solutions provider to the recreational and medical cannabis
industries.”
The State of Legal Marijuana Markets 2nd
Edition (Nov.
2013) finds that the five-year national market potential is $10.2
billion. With 24 states now selling marijuana legally for
medicinal use and two of those selling for recreational use most
believe it is only a matter of time before many more follow.
Projections look promising, as the November 4th vote
approaches there are 3 states and a US territory that will vote for
legalization.
“We are thrilled with the acquisition,” states
SinglePoint CEO, Greg Lambrecht.“The GreenStar brand is nationally
recognized and respected in the industry. This acquisition is in
the best interest of SinglePoint shareholders. It will consolidate
ownership, increase revenues and build a strong focus on branding
and operations.”
SinglePoint is ready to welcome GreenStar to the
ever-growing family including Text2Bid™, Pay by Text™, and
SingleSeed Payments.
About SinglePoint,
Inc.
SinglePoint provides solutions that allow
clients to conduct business transactions, and engage in targeted
communication campaigns with their customers through mobile
devices. SinglePoint, Inc. is a publically traded mobile technology
and payments provider differentiated by multiple proprietary
platforms. SinglePoint’s success is built on the development of
forward-thinking technology and by providing products and services
that increase sales and improve customer experience. SinglePoint’s
solutions make any communication with consumers instantly
interactive, regardless of what media channel is used to
communicate.
About GreenStar Payment Solutions,
Inc.
Founded in 2014, GreenStar Payment Solutions,
Inc., headquartered in Denver, Colorado, a proud member
of National Cannabis Industry
Association, provides payment and merchant solutions and
services to Legalized Medical and Recreational Marijuana
Dispensaries in the United States. GreenStar's suite of services
aims to provide dispensaries with a competitive advantage as a
one-stop-shop for cannabis business owners with solutions including
Non-Cash Merchant Solutions, Prepaid Rewards Programs, and
more.
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.
Investor Contact:
Greg
Lambrecht
CEO,
SinglePoint
602-481-1544
www.singlepoint.com
UPTICK Newswire
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