Technology and investment company SinglePoint (OTCQB: SING) today announced that the company recently signed to receive up to $5 million in new funding from an existing institutional shareholder. According to the update, the funding will be utilized in initiatives to drive revenue and overall shareholder value. “We are very excited to have raised this additional funding. It will really enable us to go out and execute on our plans. Being fully reporting and audited has helped us secure capital on favorable terms. With access to this capital we plan to continue acquiring larger companies to boost revenue and footprint in the cannabis and CBD space. We will also be able to launch sales and marketing campaigns for both SingleSeed, LastMile Delivery and SingleCoin. We will continue to develop new solutions as management sees fit and look at potential acquisitions knowing we have the capital and ability to acquire the targets,” SinglePoint CEO Greg Lambrecht stated in the news release.
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About SinglePoint, Inc.
SinglePoint, Inc. 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
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