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CannabisNewsBreaks – SinglePoint, Inc. (SING) Announces Position as a Debt-Free Company

Company: SinglePoint, Inc. (SING)
Category: News

Full-service mobile technology and marketing provider SinglePoint, Inc. (OTC: SING) this morning announced that it is now officially debt-free. The milestone comes as a result of the company’s ongoing fundraising initiatives, which have already resulted in the addition of more than $300,000 of working capital to its balance sheet. SinglePoint has also entered into a Letter of Intent stemming from these efforts that’s expected to result in the securement of $1 million of additional funding. Per this morning’s update, SinglePoint intends to use the capital from these fundraising efforts to support its proposed uplisting to the OTCQB Venture Market later this year, as well as to support its acquisition-based growth strategy. Most recently, this acquisition-based strategy was demonstrated when the company announced its entry into a Letter of Intent to acquire a stake in Convectium, a profitable California-based company operating in the booming cannabis market. “Being debt-free provides us with the financial flexibility needed to execute our growth plan and take advantage of incredible acquisition opportunities – such as our recent transaction with Convectium – that will strengthen our brand and ultimately benefit our shareholders,” CEO Greg Lambrecht added in this morning’s update.

To view the full press release, visit http://nnw.fm/J4pmV

About SinglePoint, Inc.

SinglePoint, Inc. is a full-service mobile technology and marketing provider. It provides solutions that allow its clients to conduct business transactions, accept donations, and engage in targeted communication through mobile devices. SinglePoint’s products connect small to mid-size companies to their target markets by providing innovative mobile technology at reasonable rates. SinglePoint recognized the strength in acquiring interest in undervalued subsidiaries in other markets to create a diversified holding base. For more information visit www.SinglePoint.com

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NetworkNewsBreak (NNB) provides a rapid summary of corporate news that caught the attention of CannabisNewsWire (CNW). NNB keeps you up-to-date on active US Public Companies complementary to CNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, CNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. CNW 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, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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