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SinglePoint Continues Acquisition Strategy with New LOI

Ryan Allway

May 23rd, 2017

News, Top News

The cannabis industry is projected to exceed $50 billion by 2026, according to Cowen & Co., driven by the ongoing legalization of recreational and medical marijuana. Investors have many options for gaining exposure to the space, but diversified equipment and consulting firms may provide the best diversified exposure. Fortunately, there are several publicly-traded options that provide investors with exposure to the space.

In this article, we will take a look at SinglePoint Inc.’s (OTC: SING) recently announced letter of intent with Discount Indoor Garden Supply and why investors should pay attention.

Consulting & Retail

Discount Indoor Garden Supply – or DIGS – is a cannabis consulting and equipment provider with two storefront locations in California and a popular online store (www.digshydro.com). The company’s retail products include hydroponics, lighting, nutrients, fertilizers, pest control, grow media, and atmosphere control products. At the same time, the company offers consulting services designed to help with everything from security to grow maintenance.

DIGS Founder Carey Haas has over 25 years of experience in the indoor gardening industry and owns several retail businesses, including a cannabis dispensary. Haas’ extensive industry knowledge and relationships could prove invaluable for both companies as they explore potential joint venture retail stores and other possibilities. This is especially true as California moves to legalize recreational cannabis by early next year.

“This is a perfect match for DIGS,” said Haas in a recent press release. “Greg’s distribution knowledge paired with my expertise and relationships in [sic] cannabis industry create a strong, synergistic opportunity to make this endeavor a major success.”

The company believes that DIGS addresses a significant and growing market as nearly every state that has legalized medical marijuana permits licensed patients to grow their own plants. Using DIGS products and services, these licensed consumers can order an all-in-one unit to grow plants in the privacy of their own homes to meet their medical needs.

The business would also generate near-term revenue for shareholders if the letter of intent is executed and the acquisition is finalized.

Acquisition Strategy

The letter of intent dovetails nicely with SinglePoint’s recent launch of SingleSeed (www.singleseed.com) as a one-stop shop for cannabis dispensaries to purchase everything they need to run their businesses.

“The long-term vision is to build SingleSeed.com into a marketplace for dispensaries to buy the products they need to do business,” said SinglePoint CEO Greg Lambrecht in a recent shareholder update. “SingleSeed will also provide consulting services to cannabis businesses who need help gaining traction and success in their strategies.”

SingleSeed.com is currently focused on payment solutions and marketing services, but the company’s recent investment in Convectium – developer of a unique oil filling machine for cannabis companies – is a prime example of areas where it plans to expand. Management plans to sell the innovative technology to dispensaries on SingleSeed.com while continuing to sell through Convectium’s own 710Shark.com website.

The company plans to continue exploring additional acquisitions in the cannabis industry. By expanding into horizontal markets, the company plans to unlock significant long-term value that’s diversified across several different areas of the market.

Looking Ahead

SinglePoint Inc. (OTC: SING) is well-positioned to capitalize on the cannabis industry with its growing portfolio of investments. These acquisitions are poised to begin creating significant revenue that could grow shareholder value, while working synergistically with the company’s in-house efforts with SingleSeed.com. Investors may want to take a closer look at the stock as this latest acquisition is finalized over the coming months.

For more information, visit the company’s website or CannabisFN’s company profile.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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