Singlepoint, Inc. (OTC: SING), specializing in small- to mid-sized company acquisitions, recently began funding Convectium, an organization that sells equipment in the cannabis industry. There should be “more funding on the way,” according to Singlepoint CEO Greg Lambrecht, who discussed the acquisition in a recent episode of MoneyTV with Donald Baillargeon. Convectium sells machines that fill vials with oil, and it created a unique system for filling/packaging vape cartridges and disposable vape pens. These systems, and point of sale equipment, are sold at various trade shows, according to Lambrecht.
In the phone interview, Lambrecht also revealed that Singlepoint is looking into joint ventures as part of its growth strategy. The Singlepoint CEO further talked about subsidiary SingleSeed Payments, which was recently re-activated as a means to offer legal marijuana businesses the financial tools they need to thrive. He noted that the SingleSeed.com website is very helpful for dispensaries looking for merchant payment processing solutions and other relevant tools for their business. “Once they get there, they’re going to see anywhere from three to five products that can help their dispensary do business,” he said.
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