Specialized holding company SinglePoint, Inc. (OTC: SING) this morning announced the completion of a $4 million round of funding, $1.2 million of which has already been collected. This total includes a $600,000 investment from United American HealthCare Corp. (OTC: UAHC). With this funding in place, SinglePoint is positioned to aggressively develop and complete its bitcoin payments solution while pursuing additional acquisition opportunities in the thriving cannabis industry. “After months of negotiation, we are beyond excited to close this deal and go after some larger deals that we have in our pipeline,” Greg Lambrecht, CEO of SinglePoint, stated in the news release. “Having this capital, along with access to additional capital if needed, puts us in a strong negotiating position. Acquiring other businesses for cash and stock is working well for us, and enables us to infuse some cash to jumpstart the growth of our acquired companies and give the businesses tremendous upside on the stock side, as they successfully execute their business plan.” In line with its revenue-by-acquisition growth strategy, SinglePoint is “close to finalizing” a previously announced letter of intent to acquire a 51 percent stake in a Colorado-based company that’s expected to set SinglePoint on a $1 million revenue run-rate over the course of the next year.
Read the full article
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer
Read More