SinglePoint Targets Cannabis Dispensaries with SingleSeed
May 9th, 2017
News, Top News
There are tens of thousands of regulated cannabis dispensaries across 29 states that have legalized medical and/or recreational marijuana. While the industry is projected to reach $24.5 billion in annual revenue by 2025, these dispensaries have trouble sourcing products and services that they need given the fragmented nature of the business. The good news is that there are several companies that are stepping in to fill the void.
In this article, we will take a look at SinglePoint Inc. (OTC Pink: SING) and the launch of its SingleSeed subsidiary as well as its near-term plans and upcoming catalysts.
SingleSeed: A One-Stop Shop
SinglePoint recently launched SingleSeed.com as a one-stop shop for cannabis dispensaries to purchase everything needed to run their business. With regulated marijuana dispensaries in 17 states, there is a large potential end market for a nationwide supplier of ancillary products and services, particularly given the fragmented nature of the market. Management plans to market the new website at trade shows and through partnerships.
“The long-term vision is to build SingleSeed.com into a marketplace for dispensaries to buy the products they need to do business,” says 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.”
Currently, SingleSeed.com is focused on payment solutions and marketing services, but management plans to expand that focus into other areas. The company’s recent investment in Convectium – developer of a unique oil filling machine for cannabis companies – is a prime example of its expansion strategy. Management plans to sell the innovative technology on SingleSeed along with Convectium’s own 710Shark.com website.
Upcoming Plans & Catalysts
SinglePoint recently enhanced its corporate website, www.singlepoint.com, to provide investors with a clear plan of its recent endeavors and market value. The new website is designed to increase shareholder value by driving more engagement for potential acquisitions and sales for acquired companies, while enabling investors to easily sign up for updates and research.
“This is an exciting time for SinglePoint,” said Lambrecht in a shareholder update. “We continue to increase value for our shareholders by focusing on acquisitions while strengthening inside sales and fundraising. We expect 2017 to be a great year for SinglePoint and look forward to providing additional updates on future acquisition targets, joint ventures, and new products.”
In addition to investing in Convectium, the company is currently in negotiations for more acquisitions in the cannabis industry. Management’s plan to diversify into horizontal markets within the burgeoning cannabis industry could unlock significant long-term value. Investors also benefit from diversified exposure to the industry rather than investing exclusively in a single vertical, such as a dispensary or cultivation facility.
SinglePoint Inc. (OTC Pink: SING) is well-positioned within the burgeoning cannabis industry. With its recent investment in Convectium and the launch of SingleSeed, the company is poised to start generating meaningful revenue while looking at future acquisitions to grow its footprint in the space. And, CEO Greg Lambrecht is the perfect person to grow the job, having taken PCI – a distribution company – to the NASDAQ on a $10 million IPO in the past.
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.
Follow Us on Social Media
About CFN Media Group
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.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.