SinglePoint Provides Update on Hemp and CBD Market Strategy
SEATTLE, April 30, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- SinglePoint Inc. (OTCQB: SING) today provides an update on the company’s Hemp and CBD sales and marketing strategy. On December 11, 2018 the Farm Bill was passed which included provisions for hemp. Shortly thereafter in a December 13th press release SinglePoint discussed the opportunity this presented for the company. Since then the company has been working full force to streamline opportunities in the space. To date the company has provided private label products, formulated custom products for clients and is now working to distribute raw materials including full spectrum oils, isolate, and other bi-products of the hemp plant for the use in creating CBD products.
SinglePoint has secured access to distribute bulk CBD isolate and see major potential in distributing CBD and other materials. The company expects to work with several large purchasers in the near future. CBD isolate is used in many different products such as the popular tinctures and creams. SinglePoint now has the supply chain in order to work with clients from inception of product to finished products. SinglePoint is also working to help clients secure distribution via ecommerce and retail channels. SinglePoint hopes to have a major distribution partner to work with their clients to get products to market.
According to President Wil Ralston, “Consumer demand for knowledge and reliable suppliers for hemp and CBD products is accelerating quickly and we are investing in infrastructure and research so we help educate clients on the potential benefits of CBD, and offer the best CBD products at an affordable price. We are particularly excited about our new water-soluble CBD Tincture which will be available at introductory prices soon on Singleseed.com.”
Ralston added, “We see growing interest and purchasing activity from boutique and fortune 500 companies alike as they rush to introduce products to address this rapidly developing market. We are working quickly to establish our own brand SingleSeed as an innovative solution and will sell these products on our retail platform singleseed.com, while also expanding our affiliate network to address retail point of sale in various consumer outlets - from 7/11 markets to specialized nutrition stores to alternative health businesses like chiropractic offices. In the B2B category companies that seek raw materials like hemp biomass, cbd distillate, and cbd isolate powder, face a lot of confusion among both buyers and sellers.”
Singlepoint is actively working on strategic alliances that will position the company as one of the first public companies to streamline the transaction process and minimize confusion. The company believes establishing those important supply chains is critical to becoming a reliable vendor for companies that are actively developing consumer solutions.
The company will have additional updates and more specifics available in the near future.
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 April 30, 2019