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Singlepoint Inc (OTCMKTS:SING) Continues Acquisition Strategy With New LOI

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Singlepoint Inc (OTCMKTS:SING)
marijuana bush on a background of the cloudy sky at sunset

Singlepoint Inc (OTCMKTS:SING)

CFN Media Group has announced publishing an article highlighting Singlepoint Inc (OTCMKTS:SING)’s letter of intent with Discount Indoor Garden Supply. Discount Indoor Garden Supply is an equipment provider and cannabis consulting company with two California-based brick & mortar storefronts and an online store.

Discount Indoor Garden Supply’s retail products include lighting, grow media, fertilizers, nutrients, hydroponics and atmosphere control products. The company also specializes in offering consulting services meant to assist with a variety of issues ranging from security to grow maintenance.

The company’s founder, Carey Haas, has over 25 of years of industry experience and owns several retail businesses – among them a cannabis dispensary. His connections and extensive knowledge of the industry will be highly valuable to the joint venture as the two companies explore possibilities. This may come at a pivotal moment as California is at advanced stages of legalizing medicinal and recreational cannabis.

In a press release, Haas said Singlepoint Inc (OTCMKTS:SING) is the perfect match for DIGS adding that SinglePoint CEO, Greg Lambrecht, is well known in the industry’s distribution channels and that the two should create a strong and synergistic match to make the joint venture a success.

According to Singlepoint Inc (OTCMKTS:SING), DIGS will help in addressing a growing and significant market due to the fact that almost every state that has legalized the use of cannabis allows licensed patients to privately grow their own plant. By using services offered by DIGS, licensed consumers will be able to order a complete unit to grow marijuana in their private farms so as to economically meet their medical needs.

The letter of intent comes at the same time of Singlepoint Inc (OTCMKTS:SING)’s recent SingleSeed. SingleSeed is a one-stop-shop and allows cannabis dispensaries to buy all they need to run their businesses. While commenting on the acquisition program, Lambrecht said the launch of the online store is anchored in the long term dream of a market place for dispensaries to purchase whatever their businesses may require.

In addition, he said the online store will be a one-stop point for those seeking consultation services in the cannabis industry as well as those who need help to gain ground and success in their plans.   He added that the online store is currently engaged in offering marketing services and payment solutions.  The company intends to continue exploring several acquisition opportunities in the cannabis industry.  This is in addition to venturing into horizontal markets to unlock its long-term value.

Singlepoint Inc (OTCMKTS:SING) closed the Wednesday session at $0.03 and a total of 7.23 million shares were traded.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

About the author: Jack arrived in the USA from Scotland over 20 years ago to study chemistry. His studies led him to a job with a Fortune 500 company and then to a stint as an analyst for a private equity firm. After the 2008 meltdown Jack returned to Scotland where he works full-time as an analyst and travel writer.

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