- SING
enters joint venture with Box BioScience to fulfill existing hand
sanitizer sales contracts
- Company
leveraging growing popularity of 1606 Hemp cigarettes with increased
distribution to new stores
- 1606
Hemp sales grew 133% this quarter and 233% in the current monthly period
compared to last month
SinglePoint Inc. (OTCQB: SING), a diversified holdings
company with operations in several high-performing market sectors, is back on
track for growth in 2020 with plans to expand the launch of 1606 Hemp
cigarettes with a new counter top display, along with distributing Simplex hand
sanitizer in a joint venture with BOX BioScience. While many businesses
struggle to scale the economic hurdles imposed by COVID-19, SING continues to
update and innovate the sales strategies of its subsidiary businesses to
increase sales, drive growth, and further develop the corporate brand.
SING’s expansion into hand sanitizer and disinfectant
products through the joint venture with BOX BioScience reflects its commitment
to delivering disinfectant solutions in response to COVID-19. The company’s
offerings benefit its customers’ lives and are also environmentally friendly.
“One of the exciting things about doing the joint venture is
that they have been doing this for a while, so they really have a great supply
of product which we needed, and they also have some sales with some Fortune 500
companies,” noted Singlepoint CEO Greg Lambrecht during an interview on MoneyTV.
“We are going to be getting some of that revenue in the joint venture, and it’s
very exciting for Singlepoint.”
In addition to expanding its footprint in the consumer
products space, SING’s hemp vertical is on track for growth, with sales
expected to double this quarter as the company prepares to launch its new 1606
Hemp six-pack counter top display (http://ibn.fm/7krsk).
“The great thing about the hemp cigarette is, unlike
tobacco, the hemp product can sit up on the counter,” commented Lambrecht in
the interview. Made from broad-spectrum, American grown, harvested and cured
hemp flower, the filtered pre-rolls are made with less than 0.3% THC and
contain nearly 20% CBD in each pre-roll, providing a smooth alternative to
tobacco products. With a fast-growing fan base of loyal users, the pre-rolls
have seen a sales growth rate of 133% this quarter over the previous quarter
along with a 233% growth in sales when compared with the same point last month.
“I was in that business for 30 years and actually took a
cigar distribution company public on the Nasdaq,” explained Lambrecht. “We’re
really excited about this box that we developed because this box is going to be
able to sit right up at the counter. We’re going to be sending that out to our
extensive store list, so I think in the upcoming weeks I’m hopefully going to
really have some big results on some sales from some big chains and
distributors that are going to take this product on.”
Besides the hemp and consumer healthcare spaces, SING also
provides expertise and capital injections to fuel growth for its consumer
products and solar energy subsidiaries. By helping its partner companies
increase their market penetration, grow revenue, and improve cash flow, SING
creates long-term value for its shareholders by providing opportunities to make
diversified investments across a wide range of assets.
For more information, visit the company’s website at www.SinglePoint.com
NOTE TO INVESTORS: The latest news and updates
relating to SING are available in the company’s newsroom at http://ibn.fm/SING
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