PHOENIX, Ariz., Aug. 24, 2021 – SinglePoint Inc. (OTCQB: SING) provides updates on previously announced spin off of 1606 Corp. On March 26, 2021 the Company announced the spin-off of its subsidiary 1606 Corp. through a stock distribution to shareholders on a 1:1 basis. As part of the ongoing strategic review, SinglePoint is evaluating potential future spin-off opportunities in order to focus the business on its core renewable energy and sustainability strategic priorities.
“We believe we are in the right place at the right time and through the solid execution of our strategic priorities, we will drive shareholder value. We believe we can also create additional value through future spin-offs of non-core assets. We have matured each of the companies into viable businesses that will continue to grow and flourish as separate entities from SinglePoint. We have established a roadmap for our non-core assets as it gives these entities an avenue to continue operations and scale, provides shareholders additional equity in a new company and enables SinglePoint management to focus on our ultimate mission of becoming a leader in the renewable energy and clean-living sector,” stated Wil Ralston CEO SinglePoint Inc.
On August 18, 2021, 1606 Corp. filed its registration statement with the Securities and Exchange Commission (SEC). To access the registration statement, please click the following link: https://www.sec.gov/Archives/edgar/data/0001877461/000147793221005733/onesix_s1.htm.
Following SEC review and approval, 1606 Corp. is expected to file the proper documentation to obtain a ticker symbol and commence trading. There is no further action required by any shareholder at this time.
“This is an exciting time for 1606 Corp and represents an important step forward in the process towards commencing trading. We look forward to continue to provide updates on the process as they become available from 1606,” added Mr. Ralston.
SinglePoint management is currently developing additional information on the subsidiary companies, upcoming performance and future looking developments. Management continues to check off multiple initiatives set up to improve the fundamentals and visibility of SinglePoint in the public markets as well as for its subsidiary businesses.
About SinglePoint Inc.
SinglePoint Inc. is a renewable energy and sustainable lifestyle company focused on providing environmentally friendly energy efficiencies and healthy living solutions. SinglePoint is initially focused on building the largest network of renewable energy solutions and modernizing the traditional solar and energy storage model. The Company is also actively exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, and additional energy efficiencies and appliances that enhance sustainability and a healthier life. For more information, visit the Company’s website (www.singlepoint.com) and connect on LinkedIn and Twitter.
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 plans and objectives of the Company, the use of proceeds, anticipated growth and future expansion, 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.
JTC Team, LLC
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SOURCE SinglePoint Inc.