SinglePoint
(OTCQB: $SING) Signs LOI to Acquire
Ancillary Cannabis Products Provider Phoenician Engineering
Seattle,
WA - April 18th 2018 – (Investorideas.com 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.
Read this news in
full at http://www.investorideas.com/CO/SING/news/2018/04181LOI.asp
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.
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.
Connect on social media at:
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https://twitter.com/_SinglePoint
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https://twitter.com/_SinglePoint
https://www.linkedin.com/company/singlepoint
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.
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.
Corporate
Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Disclosure: SinglePoint, Inc. (OTC:
$SING) is featured on the 420 Cannabis Investor Ideas of 2017 at www.420cannabisinvestorideas.com
SinglePoint, Inc. (OTC: SING) is a
featured company on Investorideas.com
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