The Company plans to use the capital to uplist to the OTCQB and become a fully reporting company this year, as well as to support its acquisition-based growth strategy. Pending due diligence, SinglePoint is optimistic that it will enter into a definitive agreement in the near future.
"We are pleased to announce our position as a debt-free company, which marks a significant milestone in our corporate history," states SinglePoint CEO Greg Lambrecht. "The elimination of debt is on par with our growth strategy for 2017, which also calls for additional funding to become a fully reporting OTC company, and to acquire high-potential opportunities in the cannabis and technology markets."
"Being debt-free provides us with the financial flexibility needed to execute our growth plan and take advantage of incredible acquisition opportunities - such as our recent transaction with Convectium - that will strengthen our brand and ultimately benefit our shareholders," says Lambrecht.
For the full press release go to Yahoo Finance
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