SinglePoint Working to Grow as Cannabis Momentum Continues as Multiple States Legalize for Medical and Recreational Use
SEATTLE, Nov. 07, 2018 (GLOBE NEWSWIRE) -- -- via OTC PR WIRE -- SinglePoint Inc. (OTCQB: SING), a fully reporting technology growth company providing mobile payments, ancillary cannabis services and blockchain solutions is pleased to announce three additional states have legalized cannabis for medical or recreational use. Tuesday November 6, 2018 was another momentous achievement in 2018 on top of what has already happened this year. In January, California the largest legal cannabis market opened to recreational use, now there are three additional states, Michigan voters approve use for adults over 21 for recreational purpose while Utah and Missouri voters approved for medical purposes.
According to Grand View Research the legal cannabis market is projected to have a market worth of $146.4 Billion by 2025. As more states and countries continue to legalize this number continues to grow.
“This is another big step for cannabis and its continued expansion. As more states continue to legalize cannabis in one form or another it opens up additional markets and continues to put pressure on finding solutions that are not yet figured out such as banking. SinglePoint continues to work on providing efficient solutions to these markets and is excited to see how the roll out of these new markets will go. We expect to work in these new markets offering our services such as LastMile Delivery and payment solutions”, states Greg Lambrecht CEO.
SinglePoint first started in the cannabis industry in 2014 offering Point of Sale payment terminals. From there SinglePoint formed subsidiary SingleSeed to offer a rounded set of solution to cannabis businesses including payments, web development, marketing and more. SinglePoint continues to offer these services and has expanded the SingleSeed brand into sales and distribution of CBD products. SingleSeed.com now providing a range of CBD products from water to vitamin capsules. SingleSeed continues to expand its offering and always looking for new exciting products to distribute.
In early 2017 SinglePoint invested into leading technology, infrastructure and automation company Convectium. The company supplies industry leading 710Shark oil filling system, 710Caption Auto-capping machine, 710Cover No-leak cartridge platfrom and the 710Seal Packagine line. All the products are providing major efficiencies to the vape market saving cannabis businesses hours of time manually filling and capping vapes. The suite of automation products has had an amazing response and the company has recently filed an 8K to become a fully reporting company on the OTCQB Markets.
In mid 2017 SinglePoint acquired 90% of Discount Indoor Garden Supply. DIGS supplies the cannabis market with multiple different products and services such as, nutrients, lighting, soils and more. Additionally, DIGS is fulfilling and supplying CBD products. The company has been on a very steady path and opened up opportunities for SinglePoint in the massive California market. DIGS continues to drive new business and opportunities to SinglePoint.
Through these acquisitions and developments SinglePoint is projecting to record over $1 Million in revenue for 2018. The company plans to add significant growth in 2019 through acquisitions and sales of internal projects.
Most recently SinglePoint collaborated with AppSwarm to develop two applications for the cannabis industry. LastMile Delivery and SingleCoin. Both platforms are available on iOS and Android. SingleCoin is a mobile wallet that stores Bitcoin and Ethereum. SinglePoint ran commercials for the application on Fox News and Fox Business featuring Kevin Harrington with a great response. The companies are working to develop a solution that will enable cannabis retail store to accept the currencies and then convert it seamlessly into a stable-coin which would help avoid any volatility. LastMile Delivery has been built to service the cannabis industry but ultimately can service any business with a delivery component. LastMile seamlessly helps customers place orders via the mobile app. Once an order is placed a dispensary receives that order and assigns it to a driver. The customers stay in the loop the entire time and have access to a map of where the driver is and an ETA of when they should arrive.
SinglePoint is continuing to negotiate new deals and acquisitions in the cannabis space. As more states legalize cannabis it provides additional markets for SinglePoint to provide services to. The company has been steadily growing and looks to expand that growth quickly through acquisitions and sales of internal projects.
SinglePoint corporate video - https://www.youtube.com/watch?v=mK-VP8VwbmI
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 SingleSeed, the company is providing products and services to the cannabis industry.
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.
Released November 7, 2018