Category: Submitted Articles

SinglePoint (OTC: $SING) Signs LOI to Acquire $1,000,000 stake in California Cannabis Cultivation Land

SEATTLE - February 27, 2018 (Investorideas.com Newswire) SinglePoint, Inc. (OTC:SING) is pleased to announce the company has signed an LOI to acquire a stake in California cannabis cultivation MTH Development Group ("MTH") further establishing its California footprint. MTH currently operates 4.7 acres of land zoned for cannabis cultivation. SinglePoint has invested in the company in return for an equity stake. Currently the company leases its properties to licensed cultivators and operates one of the largest cultivations in Adelanto, California.

With its hands-off approach SinglePoint is staying true to that strategy by investing MTH. SinglePoint will continue its hands-off approach by acquiring companies and providing technology solutions to the industry. This will be the first acquisition of its kind for SinglePoint in which the company will own equity in licensed cannabis cultivation land. The company is in negotiations to do similar investments in other states.

Read this news in full at http://www.investorideas.com/CO/SING/news/2018/02271CultivationLand.asp

MTH is currently home to companies like HD Biotech and Quality Resources. HD Biotech harvests roughly 400 pounds per month of flower and 150 pounds of trim used for cannabis oil manufacturing. Currently HD Biotech has received its cultivation, manufacturing and expects its distribution license shortly. Holding all three licenses would provide the ability to vertically control all their products from seed to sale, thus reducing costs significantly.

"We are excited for this opportunity. Having been to the operation and seeing their proprietary cultivation procedures we feel this is a great investment for SinglePoint. Part of this investment is to also test our new technologies with their tenants to improve as well as validate our systems. Their feedback will help us build the right solution and navigate the California market regulations", states Wil Ralston President SinglePoint.

This acquisition will further SinglePoints’ footprint in the cannabis market which recently achieved another huge milestone with the acceptance of Cronos listing on NASDAQ. SinglePoint management believes this shows the strength of growth in the industry and the opportunities that are available.

About SinglePoint, Inc.

SinglePoint, Inc. (SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Through diversification into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, thereby providing a rich, diversified holding base. Through its subsidiary company SingleSeed, the company is providing products and services to the cannabis industry.

Connect on social media at:

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https://www.linkedin.com/company/singlepoint

For more information visit: www.SinglePoint.com

Forward-Looking Statements

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.

Contact:

SinglePoint, Inc.
Greg Lambrecht
602.481.1544

 

Corporate Communications Contact:

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
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Disclosure: SinglePoint, Inc. (OTC: $SING) is featured on the 420 Cannabis Investor Ideas Directory at 

www.420cannabisinvestorideas.com

 

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SinglePoint, Inc. (OTC: SING) is a paid PR news and social media client on Investorideas.com for bitcoin and cannabis - starting April 6,2017 and renews quarterly and from time to time adds additional content ( averages 2-3 thousand ) and is also a paid featured company on the cannabis 420 Investor ideas directory www.420cannabisinvestorideas.com (one-time fee of one thousand)

 

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.