SinglePoint Signs LOI to
Acquire Ancillary Cannabis Products Provider Phoenician
Engineering
Seattle, WA -- April 18,
2018 -- InvestorsHub NewsWire -- SinglePoint Inc. (OTCQB:
SING) announces Letter of Intent to wholly acquire Phoenician
Engineering. Headquartered in Phoenix Arizona, Phoenician provides
both consumer products as well as commercial grade equipment.
Phoenicians' main products are medical grade grinders for consumers
and soon to launch a grinder for commercial use. The company is
currently in dispensaries throughout America and ships products
internationally.
Phoenician currently has
nine issued patents, three trademarks and additional patents
pending. This will provide SinglePoint valuable IP to add to its
growing asset class. Phoenician has also worked with multiple
influencers such as Sublime with Rome and more. Phoenician is one
of the most well-known consumers grinders in the market because of
its quality and lifetime guarantee. The founders will stay on board
through the acquisition and continue to grow the company with
SinglePoint. SinglePoint plans to help increase, the already
profitable sales, through ecommerce and online
advertising.
SinglePoint and Phoenician
are currently working through due diligence and the completed
transaction is expected to happen soon. "We are ready to close this
deal. We have 100% confidence in the founders of the company. They
have built a sustainable, scalable business. We believe we can help
take it to the next level. They are right in our backyard here in
Phoenix so working closely alongside will be easy. With their
product and an injection of our funding and ecommerce knowledge I
believe we can 5x revenue in the first 18 months," states Greg
Lambrecht CEO. "We are incredibly exited to be working though due
diligence with SinglePoint. This is a great opportunity for
synergistic and collaborative efforts to come together and add
tremendous value," states Colton Dukat, CEO of
Phoenician.
As of April 16th 2018
SinglePoint has concluded its two year audit and plans to file a
form-10 to become fully reporting. Management believes this will
give the company additional access to more capital on better
funding terms. This capital will be used for acquisitions such as
Phoenician Engineering and others in order to grow the company
revenues and increase shareholder value.
To see Phoenician
Engineering Products please see https://phoenicianengineering.com/
About SinglePoint,
Inc.
SinglePoint, Inc (SING)
is a technology and investment company with a focus on acquiring
companies that will benefit from the injection of growth capital
and technology integration. The company portfolio includes mobile
payments, ancillary cannabis services and blockchain solutions.
Through acquisitions into horizontal markets, SinglePoint is
building its portfolio by acquiring an interest in undervalued
companies, thereby providing a rich, diversified holding base.
Through its subsidiary company SingleSeed, the company is providing products
and services to the cannabis industry.
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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.
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