- Hemp emerging as a versatile, sustainable alternative that is easily grown with minimal water, without pesticides
- SING leveraging growth in hemp industry through 1606 Hemp, Klen subsidiaries
- 1606 Hemp achieved 133% increase in quarterly sales growth with expected $5.5 million in annual sales revenue per 1,000 active accounts
With hemp making headlines for its versatility and sustainability in the production of many biodegradable materials, SinglePoint (OTCQB: SING), a diversified holding company with operations in multiple industries and verticals, is leveraging this trend with multiple subsidiary businesses in this hypergrowth industry.
Along with its 1606 Hemp combustible hemp cigarette brand and its Klen sanitizer fortified with hemp seed oil, SING is positioned to benefit from hemp’s increasing use in mainstream products as the company expands operations through its aggressive acquisition strategy.
Prior to its prohibition, hemp was historically used in a wide variety of consumer products due to its ability to grow prolifically with little water and no pesticides (http://cnw.fm/uE5fG). Aside from textiles, hemp is also increasingly being used to replace plastic in many common household items. With over 300 million tons of plastic produced every year, only 10% of that plastic is recycled (http://cnw.fm/8x3SE). Hemp-based plastics, on the other hand, decompose in three to six months in ideal conditions. Not only are they more sustainable, but hemp-based plastics are also stronger and safer because they do not contain the dangerous toxins found in conventional carbon-based plastic. Besides its use in textiles, the biofuel industry represents another potential application for the hemp plant. Since cannabis is a weed that grows easily, it may give communities the opportunity to manufacture their own energy within a biofuel-based infrastructure on a decentralized power grid.
SING has shown an intuitive interest in the hem industry, seeing its potential long before CBD products hit the mainstream. Through its strategy of acquiring a significant equity stake in emerging businesses, SING became directly involved in the operation of several hemp-based companies such as 1606 Hemp, its smokable hemp brand. Featuring U.S.-grown pre-rolls cultivated to high standards, 1606 Hemp offers a smooth combustible hemp experience with high CBD content, minimal THC and zero nicotine. The company’s successful sales marketing strategy, along with its social media campaign, led to an impressive 133% quarter-on-quarter sales increase earlier this year, with expectations of up to $5.5 million in annual sales revenue per 1,000 active accounts (http://cnw.fm/1iPag).
Klen Hands is another hemp-based brand that is wholly-owned, developed and manufactured by SinglePoint. Featuring the addition of hemp seed oil to the product, Klen Hands features moisturizing elements that protect hands and retain moisture while safely and effectively disinfecting hands of all skin types.
SinglePoint’s mission is to capture opportunities through an aggressive expansion strategy across a broad range of assets in emerging industries. Guided by a visionary leadership team, the company typically acquires companies in emerging industries and grows them through strategic capital injections coupled with management’s expertise in sales, marketing, technology and engineering.
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://cnw.fm/SING
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