SinglePoint Update on Successful Early Stage Investment in Jacksam/Convectium
PHOENIX, Sept. 10, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – SinglePoint (OTCQB: SING) is pleased to update shareholders on the success of Jacksam (OTCQB: JKSM). As a lead investor in Jacksam before the company went public SinglePoint was able to secure sizeable interest in the company. Jacksam has now gone public and the value of the company has increased significantly and both parties foresee a very bright future ahead.
“To date, Jacksam has been a tremendous investment for SinglePoint. This is exactly what we look for when investing or acquiring businesses. The company was successful in its original vision and has increased the opportunity for major scalability by opening up the platform. They are now able to work with some of the biggest company’s in the space such a CCELL. We are excited to be a part of this high growth company and believe it will only continue its exponential growth.” – Wil Ralston SinglePoint President
Below are updates to what has happened over the course of the company becoming public.
Commenting on the news, Jacksam/Convectium CEO Mark Adams stated: "Up until now companies using CCell cartridges couldn’t access our state-of-the-art automation equipment which delivers up to 287% more efficiency and 80% labor savings. Our new 'open system' approach catapults our market potential to another level by enabling large-scale CBD or THC concentrate companies to increase output, reduce risks, costs and waste, and beat the competition. These unique machines enable concentrate companies to automate the 'fill and cap bottleneck' and cement Convectium’s position as the only true scalable system in the business.”
“We are very excited about this partnership, as Convectium’s industry footprint is well established and will help introduce Blinc’s high precision, compliant & science based vaping hardware to a broader audience. The combination of Convectium’s proprietary streamlined automation solutions with Blinc’s commitment to providing innovative, quality-controlled and safe products, will provide an unprecedented integrated solution for MSOs, LPs, extractors and brands looking to optimize their operations and go-to-market strategy,” commented Arnaud Dumas de Rauly, CEO of The Blinc Group.
Press Release 7/23/2019
Jacksam Corporation and MainStem Announce Partnership and Distribution Agreement to Feature Convectium Shark 710 Filling Machines, 710 Captain Capping Machines and Convectium Cartridges on MainStem’s Leading B2B Purchasing Platform
“…announced today that the Company has signed a Distribution Agreement with MainStem, Inc, the leading marketplace for ancillary products & centralized purchasing. MainStem’s online platform, with over 10,000 products and cutting-edge e-procurement functionality, is setting the industry standard for how B2B purchasing is done in the cannabis industry…”
Press Release 7/18/2019
Corporate Update: Jacksam Corporation Announces Organizational Changes and Open Source Model to Enable the Majority of Cannabis and CBD Companies to Automate Post-extraction Processes
“We are very excited about the future and strategy update of Convectium. We were an early investor and currently one of the largest shareholders outside of management. The company has had amazing growth and SinglePoint recently received sample vape pens from the company and has already received lots of interest. As SinglePoint continues to grow its footprint in the private label market the company is excited to refer and use Convectium products for clients as well. The cutting-edge technology allows us to provide superior products to clients,” stated Wil Ralston, President, SinglePoint (OTCQB: SING).
Press Release 4/17/2019
OTC Markets Group Welcomes New OTCQB Companies – April 17
Jacksam Corporation (OTCQB: JKSM) Jacksam Corp. is a technology company focused on developing and commercializing products utilizing their proprietary technology platform. The company services the medical cannabis, hemp and CBD segments of the larger e-cigarette and vaporizer markets with our oil vaporizer focused products. At present, they have three principal product lines consisting of the 710 Shark cartridge filling machine, the 710 Captain cartridge capping machine, and their proprietary cartridges. The companys customers are primarily businesses operating in jurisdictions that have some form of cannabis legalization. These businesses include medical and recreational dispensaries, large and small-scale processors and growers, and distributors.
Press Release 4/10/2019
Jacksam/Convectium Corp announces the appointment of Robert Hagen to the Board of Directors
"We believe that Mr. Hagen's extensive twenty year plus management and finance background, including his involvement in multiple M&A transactions, and his current focus on cannabis industry research, provides valuable expertise and insight for us and our Board", said CEO Mark Adams.
Jacksam/Convectium designs and markets proprietary automated vape cartridge filling/capping equipment for the cannabis industry. Our automated equipment line is designed and built in the US and carries full UL certification. Using Convectium's automated equipment, our customers are able to increase their output by up to 60 times over hand filling. Convectium is focused on helping our customers automate their workflow and get custom branded products onto dispensary shelves and into the hands of customers more quickly. Over 100 companies, including many dominant brands in the space, rely on Convectium for automation of their filling operations. Convectium has operations in seven US cities, utilizes two factories in the US and three dedicated factories in Shenzhen, China, and has over 25 employees.
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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7d4cb374-2cdc-444e-a07d-8046676f2c2c
Released September 10, 2019