Specialized holding company SinglePoint, Inc. (OTC: SING) this morning announced that it has signed a letter of intent to acquire Dr. FeelGood, a profitable Phoenix-based medical marijuana company with plans to develop a proprietary delivery and ordering technology. Per the terms of the agreement, SinglePoint will acquire 51 percent of Dr. FeelGood through a combination of cash and stock, adding an additional revenue stream to SinglePoint while solidifying its acquisition-based revenue strategy. “This acquisition is right in our wheel house,” Greg Lambrecht, CEO of SinglePoint, stated in the news release. “I previously took a distribution company public on the NASDAQ and believe with my experience in distribution we can grow this company quickly. The acquisition of Dr. FeelGood will be the third acquisition of the year. Through the acquisition of DIGS Hydro and Convectium, SinglePoints revenue has increased 378 percent compared to the first quarter of 2017. SinglePoint is in a better position than it has ever been before. We are looking at additional companies and plan to complete additional acquisitions prior to the end of the year. We are well capitalized to continue acquisitions and we are optimistic to complete around three more acquisitions and significantly increase the company’s revenue.”
To view the full press release, visit http://dtn.fm/t3enO
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About SinglePoint, Inc.
SinglePoint, Inc. (SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Through diversification into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, thereby providing a rich, diversified holding base. Through its subsidiary company SingleSeed the company is providing products and services to the cannabis industry. For more information visit www.SinglePoint.com
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