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SEATTLE, WA - September 26, 2017 (Investorideas.com Newswire) SinglePoint, Inc. (OTC:SING), a holding company specialized in the acquisition of small to mid-sized companies with an emphasis on new technologies, today announces that it has signed a Letter of Intent ("LOI") to acquire a Denver, Colorado-based company that is approaching $1 million in annual revenue. According to the LOI, SinglePoint will acquire 51 percent of the acquisition target in a stock and cash transaction expected to increase shareholder and company value, and deliver to SinglePoint immediate revenues with a healthy margin.
Year-to-date SinglePoint has acquired or invested in three companies resulting in revenue growth and solidifying the Company's revenue-by-acquisition model. This agreement is yet another demonstration of SinglePoint's ability to strategically grow its portfolio of investments in established, high-potential companies.
SinglePoint CEO Greg Lambrecht states, "We are committed to identifying and making investments in companies that strengthen SinglePoint's value. Our goal is to find and acquire companies we believe will add instant value as well as the opportunity for major growth."
SinglePoint plans to close this opportunity within the coming weeks. The company has additional acquisition targets that are in negotiation and will continue to pursue revenue-generating companies that are in alignment with SinglePoint's goals.
In addition to this LOI, SinglePoint is nearing its completion of 2016 audited financials. Upon completion SinglePoint will apply to up-list to the OTCQB. Management expects to have this audit completed in 2018
Disclosure: SinglePoint, Inc. (OTC: $SING) is featured on the 420 Cannabis Investor Ideas of 2017 at www.420cannabisinvestorideas.com
SinglePoint, Inc. (OTC: SING) is a featured company on Investorideas.com
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Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.
http://www.investorideas.com/CO/SING/news/2017/09261Acquire.asp
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