SinglePoint (OTC: $SING) Finalizes Letter of Intent to Acquire 51% of Denver-Based Company approaching $1 Million in Annual Revenue
SEATTLE, WA - September 26, 2017 (Investorideas.com Newswire) SinglePoint, Inc. (OTC:SING), a holding company specialized in the acquisition of small to mid-sized companies with an emphasis on new technologies, today announces that it has signed a Letter of Intent ("LOI") to acquire a Denver, Colorado-based company that is approaching $1 million in annual revenue. According to the LOI, SinglePoint will acquire 51 percent of the acquisition target in a stock and cash transaction expected to increase shareholder and company value, and deliver to SinglePoint immediate revenues with a healthy margin.
Year-to-date SinglePoint has acquired or invested in three companies resulting in revenue growth and solidifying the Company's revenue-by-acquisition model. This agreement is yet another demonstration of SinglePoint's ability to strategically grow its portfolio of investments in established, high-potential companies.
SinglePoint CEO Greg Lambrecht states, "We are committed to identifying and making investments in companies that strengthen SinglePoint's value. Our goal is to find and acquire companies we believe will add instant value as well as the opportunity for major growth."
SinglePoint plans to close this opportunity within the coming weeks. The company has additional acquisition targets that are in negotiation and will continue to pursue revenue-generating companies that are in alignment with SinglePoint's goals.
In addition to this LOI, SinglePoint is nearing its completion of 2016 audited financials. Upon completion SinglePoint will apply to up-list to the OTCQB. Management expects to have this audit completed in 2018.
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:
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 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.
Disclosure: SinglePoint, Inc. (OTC: $SING) is featured on the 420 Cannabis Investor Ideas of 2017 at www.420cannabisinvestorideas.com
SinglePoint, Inc. (OTC: SING) is a featured company on Investorideas.com
View the profile on Investorideas.com
Disclaimer: This directory is not a recommendation to buy or sell securities or products or services Investorideas.com charges a fee for placement. The directory is not an endorsement or recommendation but meant to be an investor resource/ due diligence tool.
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. Disclosure: Companies Featured on the 420 Cannabis Investor Ideas have paid a one-time fee of Up to $1000 to be featured on the directory and SING is also a paid featured cannabis and bitcoin company for news and PR social media
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.