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PHOENIX, May 23, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- SinglePoint (OTCQB: SING) announced today that it has signed a comprehensive supply chain and co-selling agreement with Nevada based JMSJ Holdings. The scope of the agreement provides SinglePoint, guaranteed access to $50 Million USD of industrial hemp derived CBD isolate each month. SinglePoint will then in turn offer for sale CBD Distillate, CBD Isolate, and Hemp Biomass to fortune 500 and B2B companies to be used in the manufacturing of retail products.
According to President Wil Ralston, "There’s a lot of confusion among the CBD marketplace, specifically companies that are actively endeavoring to purchase Hemp and CBD raw materials necessary to formulate/fabricate retail products. We dove into this intricacy and quickly saw an opportunity for SinglePoint to step in and streamline the exchange between buyers and sellers. Our agreement with JMSJ Holdings gives us access to a consistent supply of products and a direct co-selling relationship. We are confident that customers will respond favorably and SinglePoint's revenues attributed to the CBD market segment will grow exponentially as a result."
Meghan Rodriguez, co-founder of JMSJ Holdings, "We are excited to partner with SinglePoint on this bold initiative. Our experience to date has been that in which the demand consistently outgrows the supply. Yet, the continued demand for hemp derivatives remains prevalent, in accordance with third-party analyst supporting expectations of consistent market growth well into 2030. In large, our success in the hemp market has been a byproduct of the longitudinal approach taken to construct a robust supply chain rooted in operational 'know-how'. However, frequently the rate at which additional market share can be acquired is directly impacted by Buyer misinformation. Resulting in the necessity to ask the Buyer to participate in a time-intensive process focused on qualifying prospective clients. SinglePoint, being a fully reporting public company brings a certain transparency to much of the aforementioned vetting process. Our expectation is that in tandem with SinglePoint, buyers will become aware of our premium offering; now able to purchase goods in a condensed time frame at a meaningful internal cost reduction. Earned efficiencies in combination with SinglePoint's willingness to co-invest authoring a truly ‘consistent supply’ are likely to result in significant revenue."
SinglePoint has set up a new sales hotline to facilitate inquiries and sales. Interested parties can call 855-203-3318 or send email to firstname.lastname@example.org
About SinglePoint, Inc.
SinglePoint, Inc (SING) is a technology and investment vehicle focused on acquiring companies that will immediately benefit from the injection of technology integration and growth capital. Through acquisitions into horizontal markets, SinglePoint has been successful in building its portfolio by acquiring an interest in undervalued equities, thereby developing a rich, diversified portfolio base. The company holdings currently include mobile payments, ancillary cannabis products/services via SingleSeed, and blockchain solutions.
For Inquiries Please Call - 855-203-3318
Email - Sales@SinglePoint.com
About JMSJ Holding, LLC.
At its core JMSJ Holdings is a full spectrum supply chain company, initiating at the time of cultivation. Genetics, cultivation techniques, and extraction processes play a significant role in the resulting hemp-based derivatives JMSJ Holdings specialize in. JMSJ Holdings expects to plant and successfully extract the resulting biomass attributed to roughly 60,000 acres this year with the expectation of doubling that footprint in 2020. Today JMSJ Holdings oversees hemp extraction taking place in several laboratories spread across a number of states to service significant regional based distribution efforts.
JMSJ Holdings LLC.
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.