Specialized holding company SinglePoint, Inc. (OTC: SING) this morning announced that it has signed a Letter of Intent (“LOI”) to acquire a Denver, Colorado-based company that is approaching $1 million in annual revenue. Per the LOI, SinglePoint will acquire 51 percent of the acquisition target in a stock and cash transaction that’s expected to increase shareholder and company value by delivering immediate revenues with a healthy margin. “We are committed to identifying and making investments in companies that strengthen SinglePoint’s value,” Greg Lambrecht, CEO of SinglePoint, stated in the news release. “Our goal is to find and acquire companies we believe will add instant value as well as the opportunity for major growth.” Year-to-date, SinglePoint has acquired or invested in three companies, driving revenue growth and solidifying the company’s revenue-by-acquisition model. The company intends to close on its latest LOI within the coming weeks while continuing to pursue other revenue-generating acquisition targets that are in alignment with its goals.
To view the full press release, visit http://cnw.fm/vs0M8
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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