Singlepoint Expands Roster of Strategic Agreements and Joint
Ventures, Notes Upcoming Key Initiatives in Recap of 2017
Success
Seattle, WA -- December 12, 2017 -- InvestorsHub NewsWire --
SinglePoint, Inc. (OTC:
SING) today announces key advances in its corporate mission
with the launch of additional joint ventures and the closing of new
deals within existing agreements. SinglePoint has achieved
considerable growth in 2017, and management today also provides a
recap of achievements over the last year, as well as details key
initiatives for 2018.
Strategic Agreements and Joint Ventures
Strategic acquisitions and partnerships play an integral role in
SinglePoint's expansion strategies. The Company is pleased to
report that it has formalized its previously announced
joint-venture agreement and made the first payment to AppSwarm
(OTC: SWRM) to start development on a proprietary delivery
application that will enable licensed delivery services and
licensed dispensaries to safely make in home deliveries. This
agreement specifically strengthens SinglePoint's position in the
cannabis and cryptocurrency markets.
SinglePoint has also signed an agreement with Global Payout
(OTC: GOHE), a leading provider of comprehensive and customized
financial technology solutions for domestic and international
organizations, to advance and streamline the process involving the
delivery of payment applications. Global Payout's majority owned
subsidiary MoneyTrac Technology, Inc. ("MTRAC") is at the forefront
of developing a variety of payment solutions within the
multibillion dollar cannabis industry and has executed a number of
partnerships in recent months that has significantly expanded their
network within one of the fastest growing industries. It is
SinglePoint's intent to leverage its expertise in mobile payments
and other mobile offerings to further optimize MTRAC's technology
platform and bring additional value to their services.
"Through strategic joint ventures and inside development of
applications we are pushing hard on providing a compliant solution
to the cannabis industry. Our team and others have worked well in
collaboration, and believe we are not far away from an official
launch of this solution in the first quarter of 2018. This will be
a major step for SinglePoint and our partners," states SinglePoint
President Wil Ralston.
SinglePoint also recently entered in a multi-phase joint venture
with Smart Cannabis Corp. (OTC: SCNA). The Company has identified
this joint venture as another opportunity to make a big move into
the State of California before it fully legalizes marijuana in
January 2018. This move is projected to boost California's
contribution to the U.S. marijuana industry (expected to reach $50
billion annually by 2026) by $7 billion. Smart Cannabis, whose
products are automated greenhouse systems, and a unique SMARTAPP
software automation and monitoring system, is one of the few
profitable companies in the cannabis market sector. Smart Cannabis
Vice President Don Smith said "Our joint venture with Singlepoint
provides both companies a unique opportunity to capture a large
marketshare of the explosive commercial cultivation market in
California". SinglePoint has already acquired one company in California and
has invested in another.
End of Year Recap, Forecast for Remainder of 2017
SinglePoint entered into a rapid pace of growth at the beginning
of 2017, and this month achieved a corporate milestone of notching
a $100 million-dollar market cap. Additionally, SinglePoint has
brought in just over $1 million in funding with access to an
additional $3 million. Solidifying the financials SinglePoint has
increased revenue and assets throughout 2017 and anticipates
significant increases throughout 2018.
SinglePoint's management team is highly optimistic that the
Company will continue to see significant revenue growth through the
end of the fourth quarter, as it currently has many opportunities
in the pipeline. This momentum is due to increased deal flow as the
Company has grown throughout the cannabis and cryptocurrency
verticals.
Most recently SinglePoint entered into negotiations with a
transactional bitcoin platform expected to add considerable value
to the Company and its payments offerings. This week, management
will head to Los Angeles to kick off its bitcoin payments platform
and take advantage of networking opportunities for possible
partnerships and acquisitions.
Recognizing the value of multimedia to brand awareness,
SinglePoint is filming a commercial to showcase the bitcoin
solution. Once production is complete, the Company plans to launch
a national ad campaign to increase awareness for consumers and
drive new customers to utilize the platform.
SinglePoint has also sponsored an event in which dispensary and
cultivators are the main attendees. To sign new accounts,
SinglePoint will run demos of its bitcoin payments solution and
aforementioned SMART APP recently licensed from Smart Cannabis
Corp.
Pivoting from its many successes in 2017 and its improved
corporate and financial position, SinglePoint forecasts a
significant increase in revenues at the end of the fourth
quarter.
Outlook for 2018
As noted above, SinglePoint manages an aggressive expansion
strategy, and has signed multiple joint ventures and agreements
that management believes will provide fruitful results.
Acquisitions have been a powerful catalyst of corporate growth for
SinglePoint, and management is gearing up to make additional
acquisitions and plans to invest a significant amount of equity and
cash into additional companies in 2018.
As the Company pursues continued growth through acquisitions and
internal developments, management remains bullish on bitcoin and
blockchain technologies that solve key issues in the cannabis
markets. Capturing its share of opportunity in these markets,
SinglePoint will look for companies to acquire and partner with to
bring solutions to this major market.
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:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint_
https://www.linkedin.com/company/singlepoint
For more information visit: 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.
Contact:
SinglePoint, Inc.
www.SinglePoint.com
Greg Lambrecht
602.481.1544
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New York, New York
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