Technology and investment company SinglePoint (OTCQB: SING) this morning announced its entry into a $109,465,000 contract with Elite Foundation LLC of North Carolina to supply more than 275,000 pounds of premium hemp flower over a 15 month period. According to the update, SinglePoint stands to make a large profit in what is the first major deal arising from the supply chain and co-selling agreement with Oregon-based Easy Street Services Company and J&J Empire. “Our team specifically our VP of Sales Don Smith has worked tirelessly to make this a reality. We believe this is the catalyst toward closing a stream of substantial deals in our pipeline,” SING President Wil Ralston said in the news release. “Not long ago, SinglePoint made a significant commitment to be a major provider in the industrial hemp space; this agreement solidifies our place in the industry. In addition to raw material supply we are negotiating distribution agreements to place finished goods in retail stores. There is a lot of opportunity in this burgeoning market and we are getting in everywhere we can. Our newest team member, Don Smith, is a leader in these efforts.”
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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 companies, thereby providing a rich, diversified holding base. Through SingleSeed, the company is providing products and services to the cannabis industry. For more information, visit the company’s website at www.SinglePoint.com.
NOTE TO INVESTORS: The latest news and updates relating to SING are available in the company’s newsroom at http://nnw.fm/SING
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