Breaking #Cannabis News: SinglePoint (OTCQB: $SING) Receives Phenomenal Response to 1606 Original Hemp Cigarettes at 2019 MJ Business Conference
Alternative to Vape and Traditional Smoking, 1606 Original Hemp Cigarette Debuts at 2019 MJBIZCON
Phoenix, AZ - December 19, 2019 (Investorideas.com Newswire) SinglePoint Inc. (OTCQB:SING) successfully launches 1606 Original Hemp at the 2019 MJ Business Conference in Las Vegas. The company received its first major purchase order for approximately 5000 packs of hemp cigarettes from one distributor and expects many more to come over the coming months. The show was attended by approximately 35,000 people this year.
Read this news in full at https://www.investorideas.com/CO/SING/news/2019/12191HempCigarettes-MJBusinessConference.asp
SinglePoint President Wil Ralston was featured on ABC local news station KTNV channel 13 in a segment about the conference and overall growth in the industry. Mr. Ralston discussed the process behind creating and supplying 1606 Original Hemp cigarettes and how the response has been so far to date.
Full segment here -
"The reception for 1606 at MJBIZCON exceeded our expectations. The most surprising to us was just the number of individuals that were truly excited about this product and had never seen anything like it before. As well as the number of people that came back days two and three to tell us how much they enjoyed the product. We know we have a great product here and are ahead of the market. We now need to follow up and sell and establish our brand as the premier brand in the market. I believe we have the head start and quality product to do just that, our first distributor has put in their purchase order for around 5000 packs and we look forward to additional orders from stores and additional distributors," states Wil Ralston, President of SinglePoint.
1606 Original Hemp cigarettes are nicotine and tobacco-free. Some research suggests that smoking hemp cigarettes could be a potential tool to replace tobacco and nicotine addictions. According to a Brightfield Group survey of more than 5,000 CBD users in the U.S.:
· 24% have used it to help quit smoking.
· Quitters are often replacing cigarettes with either smokable hemp or vaping.
· 41% of quitters have entirely replaced traditional smoking with hemp CBD.
According to a June 2019 market research report published by MarketsandMarkets™, the industrial hemp market is projected to grow from $4.6 billion in 2019 to $26.6 billion by 2025, recording a compound annual growth rate of 34.0% during the forecast period. The cannabidiol (CBD) market is on track to grow to $23.7 billion through 2023, according to Brightfield Group. The firm also estimated the smokable hemp market to be valued at $11.5 million in 2018, a growth of 250% from 2017.
About 1606 Original Hemp
At 1606 Original Hemp We believe you deserve quality hemp made in the USA by farms dedicated to producing 100% compliant products grown with organic practices. 1606 provides full spectrum CBD, third party tested from seed to sale for your safety. Quality Cultivation Guaranteed!
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About SinglePoint, Inc.
Founded in 2011, SinglePoint, Inc. (SING) invests in and acquires brands and companies that will benefit from injection of growth capital and the sales and marketing expertise of SinglePoint. The company's portfolio currently includes solar renewables, Hemp and distribution tobacco products. SinglePoint is working to grow the company to a multi-national brand.
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Forward-Looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
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