Specialized holding company SinglePoint, Inc. (OTC: SING) this morning announced its acquisition of Dr. FeelGood, a profitable cannabis distribution company headquartered in Phoenix, Arizona. Per the terms of the agreement, SinglePoint will acquire a 51 percent stake in Dr. FeelGood in exchange for cash and stock, allowing SinglePoint to recognize all of the company’s revenue and effectively strengthening its revenue-by-acquisition strategy. “We are very excited for the success of this acquisition,” Greg Lambrecht, CEO of SinglePoint, stated in the news release. “The acquisition of Dr. FeelGood is the third acquisition of the year. SinglePoint’s revenue has dramatically increased, which through the acquisition of DIGS Hydro and Convectium has increased 378x compared to the first quarter of 2017. SinglePoint is in a better position than it has ever been before. We are well capitalized to continue acquisitions and we are optimistic to complete additional acquisitions and very optimistic to significantly increase the company revenue.”
To view the full press release, visit http://cnw.fm/Gx1jm
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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