SinglePoint
Secures
$2,000,000 in Accretive Financing to Drive Recent
Acquisitions Growth
–
Company
building the most comprehensive national solar network and
portfolio of renewable energy solutions to meet rapidly growing
demand
–
Strengthened
balance sheet bolsters Company's position to drive growth and
access future synergistic expansion opportunities
PHOENIX,
AZ -- March 18, 2021 -- InvestorsHub NewsWire
-- SinglePoint
Inc.
(OTC:
SING) ("SinglePoint"
or the "Company"), a company focused on providing renewable energy
solutions and energy-efficient applications to drive better health
and living, closes
a
transaction for an aggregate of $2,000,000
in
preferred
stock, that has a
fixed
price at
which it converts into shares of common stock. The terms and
conditions of the preferred stock
can be
accessed via the Company's latest U.S. Securities & Exchange
Commission filings. The Class D
preferred
subscriptions, executed with GHS Investments, LLC, allows the
Company to access additional equity capital from GHS via this
equity structure.
Proceeds from the
financing will be used for sales and marketing initiatives for the
Company's recently acquired leading solar lead provider,
Energy
Wyze, and exclusive
distributor of an industrial grade, American-made, high-proficiency
energy-efficient air purification technology
Box
PureAir.
"GHS Investments has
been a true partner in looking at the long-term growth of the
Company and working to achieve those goals through financing. We
are pleased to continue our work with them as we build momentum and
propel the Company forward. This is another step in the right
direction for SinglePoint
to
solidify operations, improve the balance sheet and continue towards
the overall goal of up-listing to a national exchange," adds Wil
Ralston President of SinglePoint
Mr. Ralston also
added an update on the Company's recent subsidiaries,
"As schools look to
reopen, the need for clean
air in the classroom
has
become the leading priority. Just this week the ESSER II funds have
been assigned in many states and schools will be able to begin to
take action and purchase the necessary equipment to meet the
established guidance.
Box Pure Air has submitted bids in
schools throughout the nation and we hope
that new
orders will start to be completed soon and inventory will begin
shipping. This funding will
help drive the Company's goals
through adding additional sales support functions among other
opportunities that with capital can be acted
upon."
In addition to Box
Pure Air, SinglePoint
will be
able to drive new lead acquisition through its recent acquisition
of
Energy
Wyze. The
Company will now have
additional working capital to drive more leads to its existing
customers.
"We have accomplished
a lot in the last year, from acquisition to debt repayment, which
has strengthened the Company as a whole.
This capital raise is the culmination of all the work we
have put in to setting up
the Company for long term
success. With the clean-up of debt and hopefully reaching
operational profitability soon within our existing
business
units we will be able to simply focus on growing shareholder
value", concluded Mr.
Ralston.
About
SinglePoint
Inc.
SinglePoint Inc. is a renewable energy and sustainable lifestyle
company focused on providing environmentally friendly energy
efficiencies and healthy living solutions. SinglePoint is initially
focused on building the largest network of renewable energy
solutions and modernizing the traditional solar and energy storage
model. The Company is also actively exploring future growth
opportunities in air purification, electric vehicle charging, solar
as a subscription service, and additional energy efficiencies and
appliances that enhance sustainability and a healthier life. For
more information, visit the Company's website (www.singlepoint.com)
and connect on LinkedIn and Twitter.
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 plans and objectives of
the Company, the use of proceed,
anticipated growth and future expansion,
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:
JTC Team,
LLC
Jenene Thomas
833-475-8247
SING@jtcir.com