Technology and investment company SinglePoint (OTCQB: SING) today announced a letter of intent to acquire ProActive Nutra, a GMP, FDA compliant CBD, mushroom and herbal cleanser manufacturing company. According to the update, the company operates in a GMP-compliant facility and currently manufactures over 30 products for the ProActive Nutra brand and many others as a private labeled finished product. “This is an exciting opportunity for SinglePoint. We have been fulfilling CBD products and formulations for customers already, and to bring that process in-house through this acquisition while increasing our revenue as well is a win-win for SinglePoint,” SING CEO Greg Lambrecht said in the news release.
In addition, SinglePoint announced that its President Will Ralston was featured on an Investor Ideas Potcast, hosted by Investorideas.com, a global news source covering leading sectors including cannabis and solar stocks, to discuss the company’s recent acquisition of Direct Solar and its cross pollination business strategy (http://ibn.fm/Y74we). “This acquisition will securely place SinglePoint on a new path towards growth, revenue and overall profitability,” Greg Lambrecht, CEO of SinglePoint stated in a recent press release discussing the acquisition. “We believe Direct Solar has the people and the ability to scale beyond initial projections and truly make an impact on SinglePoint’s goal of getting a NASDAQ or NYSE.”
About SinglePoint Inc.
SinglePoint, Inc. 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. For more information, visit the company’s website at www.SinglePoint.com.
NOTE TO INVESTORS: The latest news and updates relating to SING are available in the company’s newsroom at http://ibn.fm/SING
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