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SinglePoint (OTC:SING) confirms new cash infusion

Tony Zerucha

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Singlepoint (OTC:SING), a technology growth company providing mobile payments, ancillary cannabis services and blockchain solutions, has recently signed to receive up to $5,000,000 dollars in new funding from an existing institutional shareholder. This funding will go directly towards revenue generation and “overall shareholder value”.

“We are very excited to have raised this additional funding,” CEO Greg Lambrecht said. “With access to this capital we plan to continue acquiring larger companies to boost revenue and footprint in the cannabis and CBD space. We will also be able to launch sales and marketing campaigns for both SingleSeed, LastMile Delivery and SingleCoin.”

Singlepoint said it is working to identify and acquire CBD companies.

The CBD market is predicted to be worth north of $2.0 billion in consumer sales by 2020 with approximately $450 Million derived from hemp-related products. Singlepoint has been working to establish its footprint through SingleSeed.com, a website distributing hemp-derived CBD products from water to lozengesSinglepoint plans to expand its distribution capabilities and product suite and is in negotiations to add a new set of additional high-quality products.

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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