SinglePoint Finalizes Letter of Intent to Acquire 51% of
Denver-Based Company approaching $1 Million in Annual Revenue
SEATTLE, WA (September 26, 2017) SinglePoint, Inc. (OTC:
SING), a holding company specialized in the acquisition of
small to mid-sized companies with an emphasis on new
technologies, today announces that it has signed a Letter of
Intent (LOI) to acquire a Denver, Colorado-based company that is
approaching $1 million in annual revenue. According to the LOI,
SinglePoint will acquire 51 percent of the acquisition target in a
stock and cash transaction expected to increase shareholder and
company value, and deliver to SinglePoint immediate revenues with a
healthy margin.
Year-to-date SinglePoint has acquired or invested in three
companies resulting in revenue growth and solidifying the Companys
revenue-by-acquisition model. This agreement is yet another
demonstration of SinglePoints ability to strategically grow its
portfolio of investments in established, high-potential
companies.
SinglePoint CEO Greg Lambrecht states, "We are committed to
identifying and making investments in companies that strengthen
SinglePoints value. Our goal is to find and acquire companies we
believe will add instant value as well as the opportunity for major
growth."
SinglePoint plans to close this opportunity within the coming
weeks. The company has additional acquisition targets that are in
negotiation and will continue to pursue revenue-generating
companies that are in alignment with SinglePoints goals.
In addition to this LOI, SinglePoint is nearing its completion
of 2016 audited financials. Upon completion SinglePoint will apply
to up-list to the OTCQB. Management expects to have this audit
completed in 2018.
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.
Connect on social media at:
www.facebook.com/SinglePointMobile
http://www.twitter.com/_SinglePoint
www.linkedin.com/company/SinglePoint
www.youtube.com/user/SinglePointMobile
For more information visit www.SinglePoint.com or www.SingleSeed.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 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602.481.1544
Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office