SinglePoint (OTC: $SING)
and Smart Cannabis Corp. Sign Joint Venture to Integrate, Distribute 'SMART
APP' for Cannabis Businesses
SEATTLE - December 5, 2017 (Investorideas.com Newswire) SinglePoint, Inc. (OTC:SING) today announces a joint venture relationship with Smart Cannabis Corporation (SCNA) (www.smartcannabis.com) in which SinglePoint will license and market Smart Cannabis' SMART APP, an industry specific application that enables cultivators to control entire operations from a mobile device. The SMART APP is leading the way in efficiently cultivating cannabis through the introduction of IoT technology (Internet of Things) to greenhouses. This SMART APP IoT technology measures everything from nutrient levels in soil to watering cycles, to parts per million of carbon dioxide in the air. SinglePoint and Smart Cannabis Corp. will also work together to integrate SinglePoint's bitcoin payment solution. This gives cultivators the ability to collect payment for their sales via the payment application, making for a safer and more secure transaction.
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"Cultivators
need a solution to secure their payments. We are looking to provide a solution
that can be used from seed to sale, the entire life cycle. The transaction from
a cultivator to a processor or dispensary can be huge, over $150,000 per transaction,
and it is simply not safe or efficient to carry that kind of cash to a
transaction. We believe we can help secure and track this transaction with our
solution," states SinglePoint President Wil Ralston.
Additionally,
SinglePoint and Smart Cannabis Corp. will work together to finalize a track and
trace solution. This solution, already available for Smart Cannabis cultivator
customers, be developed by SinglePoint and deployed to a consumer base that
will bring the solution full circle.
"Consumers
who walk into a dispensary, where a cultivator is using our system, will be
able to see how, when, and where the product was grown. There is no other
system on the market like it and we plan to be the first company to use
transparent and traceable blockchain technology to bring this "track and
trace" product knowledge to consumers," said Ralston.
John
Taylor, president of Smart Cannabis Corp., said the company is excited to
"team up" with SinglePoint.
"They
are an ideal partner for us to expand our business beyond California for both
our current products, our line of innovative automation, and our trace and
tracking software solution for cultivators. This joint venture with SinglePoint
will give us the ability to market our products on a broader scale. In addition,
we believe the uptrend in cryptocurrency use in the cannabis marketplace will
continue to expand, and being part of their exchange will help us grow our base
business."
SinglePoint
is moving into what has been labeled as California's "Green Rush" in
a big way. Through joint ventures and acquisitions the company has solidified
its beachhead in a state that projects annual cannabis sales around $7 billion.
According to Grand View Research, the medical marijuana market is expected to
reach a value of USD $55.8 billion by 2025.
SinglePoint
and Smart Cannabis Corporation are moving into this major market offering top
tier solutions that will drive revenue for both companies.
"We
are very impressed with the results that Smart Cannabis has quickly achieved in
California, and we believe this relationship with them provides a great deal of
synergy, both in California and in the nationwide cannabis business. The
company is building a truly innovative product. Our expertise in payment
processing and point of sale systems is a perfect fit for the track and trace
technology they have developed to date. Our overall goal is to have a fully
integrated solution for businesses to manage their day-to-day operations from
beginning to end, and Smart Cannabis operates to that same goal with their
automated greenhouse solutions. We are glad they have turned to us to
collaborate on their software solutions, and to be a part of our bitcoin
exchange," said Greg Lambrecht, CEO and founder of SinglePoint.
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.
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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.
Greg Lambrecht
602.481.1544
Greg Lambrecht
602.481.1544
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Disclosure: SinglePoint, Inc. (OTC:
$SING) is featured on the 420 Cannabis Investor Ideas of 2017 at
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