NEW YORK, July 12, 2017 /PRNewswire/ --
The burgeoning legalizedmarijuana market is increasingly populated with unique contenders, and success in this market requires a high caliber of innovation that drives compounding potential for revenue growth, success and sustainability. SinglePoint, Inc. (OTC: SING)
SinglePoint (SING) offers a compelling and diversified investment opportunity within the marijuana space, and is beginning to demonstrate its ability to generate revenues through strategic acquisitions. While some investors are leery of the risks of the federally illegal marijuana market, it's important to note that SinglePoint at no time touches the marijuana plant. For example, building on its history of payment technologies, SinglePoint - among other endeavors - services the marijuana industry via its SingleSeed subsidiary (http://www.SingleSeed.com), which is engaged in supplying various services to cannabis dispensaries and has become a hub for dispensaries seeking merchant payment processing solutions and other business tools. SingleSeed also offers payment processing and text message marketing solutions for cannabis businesses.
Also in the payment technology field, SinglePoint recently partnered with First Bitcoin Capital (OTC: BITCF) to develop a proprietary bitcoin payment solution for the cannabis business that, at present, do not have access to banking options due to FDIC restrictions and resultant lack of cooperation from banks. This innovative bitcoin solution will be deployable on any point-of-sale machine through a simple download and will enable cannabis businesses to accept credit and debit card transactions independent of banks.
As the first cryptocurrency and blockchain-centered company to become publicly traded, First Bitcoin is a valuable partner to SinglePoint in the quest to develop digital currencies. The company offers a suite of financial solutions for medical cannabis businesses, including merchant processing and point-of-sale solutions like automated check-cashing kiosks for California-based medical marijuana dispensaries. First Bitcoin Capital recently announced that it has invested its primary wallet, which owns dozens of cryptocurrencies, into closed-end crypto-exchange traded fund (CETF) AlphaBIT in exchange for controlling interest in the form of 200 million ABCs. This is the company's very first foray into the Ethereum ecosystem, as ABC runs on the Ethereum blockchain. This acquisition is significant for various reasons, including giving shareholders a vehicle for transparently monitoring some of First Bitcoin Capital's assets.
In June SinglePoint closed a $1 million company-friendly Convertible Promissory Note with an institutional investor, stating that proceeds from the investment will be used to execute on its bitcoin solution. With this new round of funding, the company can move forward with its development of a cryptocurrency solution and continue its strategic acquisitions within the marijuana space.
One recent acquisition has positioned SinglePoint to become a leader in online products, retail stores, cannabis consulting and equipment in the state of California, where thousands of cannabis-related businesses have cropped up. SinglePoint recently acquired 90 percent ownership of Discount Indoor Garden Supply (DIGS), a provider of soil and supplies-including hydroponics products-as well as consulting services to legal cannabis growers. The importance of this acquisition is emphasized by an unsuspecting yet recognizable name: Scotts Miracle-Gro (SMG). While you might not think 'marijuana' when you hear the name of this household brand, Scotts Miracle-Gro has emerged as one of the biggest traditional business players to participate in the cannabis industry. Through its wholly-owned The Hawthorne Gardening Company subsidiary, the company is acquiring various leading firms in hydroponics areas, including soil, lighting and nutrients, and market reports suggest that the company has more acquisitions on deck for this year.
SinglePoint also recently inked an agreement with Premier Biomedical, Inc. (BIEI) to act as a volume supplier in manufacturing Premier's new CBD (cannabidiol) Hemp Oil Skin Patch. The patch is anticipated to be the first in a line of products resulting from the agreement between the two companies. SinglePoint believes this new business will contribute greatly to its revenue goals.
Earlier this year, SinglePoint made an investment in Convectium, a California-based provider of equipment, branding and packaging solutions to the cannabis industry. Convectium developed the very first cartridge and vape pen oil-filling machines for wholesale distribution to marijuana dispensaries, and its 710Shark and 710Seal machines-which are currently sold through the EquipCanna.com website-can fill and package more than 100 cartridges or disposable vape pens in just 30 seconds. Convectium also operates a consumer brand that includes BlackoutX and HazeSticks products.
General Cannabis (OTCQB: CANN) is another diversified player in the cannabis space, serving as a comprehensive resource for high-quality services to the regulated marijuana industry. Through a combination of robust operating divisions, including security, marketing, operational consulting and products, real estate and financing, General Cannabis has become a key partner to the cultivation, production and retail areas of the marijuana market. The company's synergistic divisions are able to leverage one another's strengths to contribute to General Cannabis' overall success.
Biopharmaceutical company GW Pharmaceuticals (NASDAQ: GWPH) has become a global leader in developing plant-derived cannabinoid therapeutics using its established drug discovery and development process along with an intellectual property portfolio and regulatory and manufacturing savvy. The company has successfully developed the world's very first cannabis-derived prescription medicine, Sativex, which now has approval in more than 29 countries outside the United States to treat spasticity related to multiple sclerosis. GW's current lead product candidate is Epidiolex (cannabidiol) for treating certain rare and severe early-onset, drug-resistant epilepsy syndromes. The company's pipeline of CBD product candidates further includes compounds that are in Phase 1 and 2 trials for treating glioma, schizophrenia and epilepsy.
Another company focused on leveraging a differentiated brand portfolio within the legalized marijuana space is Golden Leaf Holdings (OTCQB: GLDFF). Golden Leaf Holdings is one of North America's largest providers of cannabis oils and solutions and is a leading marijuana company in Oregon. The company's product portfolio is constructed around recognized brands, and Golden Leaf Holdings is leveraging a robust management team of experts in the cannabis and food industries to bolster its expertise in cannabis oil extraction, refining and sales. Golden Leaf Holdings' aim is to become a leading, consumer-driven company that is focused on wellness solutions that are founded on science and research, thereby leveraging the company's differentiated brand portfolio to provide outstanding customer value.
These companies are making names for themselves through their successfully unique approaches within the rapidly growing legal marijuana market. With so many competitors now crowding the marijuana space, diversified players like the named companies stand out as ones to watch-and invest in-within the cannabis market. For more information on SinglePoint please visit: Singlepoint (SING) or http://www.SinglePoint.com .
NetworkNewsWire (NNW) is an information service that provides to users (1) access to our news aggregation and syndication servers, (2) enhanced press release services, and (3) a full array of social communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today's market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. NNW and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, NNW, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and NNW and FNM undertake no obligation to update such statements.
Media Contact e-mail: FN Media Group, LLC [email protected] +1(954)345-0611
Subscribe to our Free Newsletters!
Statins are a group of drugs which help to lower the blood cholesterol levels.
Niemann-Pick disease is a group of inherited metabolic disorders in which cholesterol and lipids ...
Raspberries are packed with important nutrients, vitamins and minerals. They help boost immunity, ...View All