SinglePoint Continues Accelerated Growth in Cannabis Sector with Letter of Intent to Acquire Dr. FeelGood
SINGLEPOINT INC (SING)
NASDAQ:AMEX Investor Relations:
ir.singlepoint.com
Company Research
Source: Marketwire
SEATTLE, WA -- (Marketwired) -- 08/22/17 -- SinglePoint, Inc. (OTC PINK: SING) today announces it has signed a Letter of Intent (LOI) to acquire Dr. FeelGood, an already profitable Phoenix-based medical marijuana distribution company with plans to develop a proprietary delivery and ordering technology. Per the LOI, SinglePoint will acquire 51% of the company in a combination of cash and stock. The acquisition will add an additional revenue stream to SinglePoint, solidifying the company's acquisition-based revenue strategy. SinglePoint anticipates it will quickly close this acquisition, demonstrating its ability to grow its portfolio of investments in established high-growth, high-potential cannabis businesses. SinglePoint successfully acquired two companies earlier this year, and expects that the acquisition of Dr. FeelGood will be a highly successfully addition to its portfolio. "This acquisition is right in our wheel house. I previously took a distribution company p
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