SinglePoint, Inc. Eliminates Debt, Issues Update on Fund Raising Initiatives and Allocations
February 07 2017 - 8:30AM
InvestorWire
New York, New York (NetworkNewsWire) – SinglePoint, Inc. (OTC
PINK: SING), a full-service mobile technology and marketing
provider, today announces that the Company is officially debt-free.
In conjunction, SinglePoint has raised more than $300,000 and has
signed a Letter of Intent to secure additional funding of $1
million.
The Company plans to use the capital to uplist to the OTCQB and
become a fully reporting company this year, as well as to support
its acquisition-based growth strategy. Pending due diligence,
SinglePoint is optimistic that it will enter into a definitive
agreement in the near future.
"We are pleased to announce our position as a debt-free company,
which marks a significant milestone in our corporate history,"
states SinglePoint CEO Greg Lambrecht. "The elimination of debt is
on par with our growth strategy for 2017, which also calls for
additional funding to become a fully reporting OTC company, and to
acquire high-potential opportunities in the cannabis and technology
markets."
Today's update follows news of the Company's recent Letter of
Intent (http://nnw.fm/6YH6u) to acquire a stake in Convectium,
a profitable California-based company that created the world's
first machine capable of filling cartridges or disposables en mass
for wholesale distribution to cannabis dispensaries.
"Being debt-free provides us with the financial flexibility
needed to execute our growth plan and take advantage of incredible
acquisition opportunities - such as our recent transaction with
Convectium - that will strengthen our brand and ultimately benefit
our shareholders," says Lambrecht.
About SinglePoint, Inc.
SinglePoint, Inc. is a full-service mobile technology and
marketing provider. We provide solutions that allow our clients to
conduct business transactions, accept donations, and engage in
targeted communication through mobile devices. Our products connect
small to mid-size companies to their target markets by providing
innovative mobile technology at reasonable rates. SinglePoint
recognized the strength in acquiring interest in undervalued
subsidiaries in other markets to create a diversified holding
base.
Connect on social media at: www.facebook.com/SinglePointMobile, www.twitter.com/_SinglePoint_, www.linkedin.com/company/SinglePoint and www.youtube.com/user/SinglePointMobile
For more information visit www.SinglePoint.com.
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