Specialized holding company SinglePoint, Inc. (OTCQB: SING) this morning announced its entry into a letter of intent to wholly acquire Phoenix-based Phoenician Engineering, a provider of both consumer and commercial grade equipment. Phoenician’s main products include medical grade grinders for consumers, which are currently available in dispensaries throughout America. Per the update, Phoenician currently has nine issued patents, three trademarks and additional patents pending, offering an opportunity for SinglePoint to expand its IP portfolio and add to its growing asset class. “We are ready to close this deal,” Greg Lambrecht, CEO of SinglePoint, stated in the news release. “We have 100% confidence in the founders of the company. They have built a sustainable, scalable business. We believe we can help take it to the next level. They are right in our backyard here in Phoenix so working closely alongside will be easy. With their product and an injection of our funding and ecommerce knowledge I believe we can 5x revenue in the first 18 months.”
To view the full press release, visit http://nnw.fm/IP5Zo
About SinglePoint, Inc.
SinglePoint, Inc. (SING) is a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, thereby providing a rich, diversified holding base. For more information, visit the company’s website at www.SinglePoint.com
More from NetworkNewsBreaks
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, please visit https://www.NetworkNewsWire.com