SinglePoint, Inc. Signs LOI to Acquire 100% of GreenStar Payment Solutions
SEATTLE, WA -- (Marketwired) -- 09/23/14 -- SinglePoint, Inc. (OTC: SING) is pleased to announce that it has finalized a Letter of Intent to acquire the remaining equity in GreenStar Payment Solutions from its joint venture partners, Advanced Content Services (OTC: ADCS) and GreenHouse Payment Solutions, LLC.
As a result of the Letter of Intent, GreenStar Payment Solutions, Inc. will be a wholly owned subsidiary of SinglePoint.
"We are thrilled with the acquisition," states SinglePoint CEO, Greg Lambrecht. "The GreenStar brand is nationally recognized and respected in the industry. This acquisition is in the best interest of SinglePoint shareholders. It will consolidate ownership, increase revenues and build a strong focus on branding and operations."
SinglePoint is ready to welcome GreenStar to the ever-growing family including Text2Bid™, Pay by Text™, and SingleSeed.
About SinglePoint, Inc.
SinglePoint provides solutions that allow clients to conduct business transactions, and engage in targeted communication campaigns with their customers through mobile devices. SinglePoint, Inc. is a publically traded mobile technology and payments provider differentiated by multiple proprietary platforms with $1.6 million in revenues in 2013. SinglePoint's success is built on the development of forward-thinking technology and by providing products and services that increase sales and improve customer experience. SinglePoint's solutions make any communication with consumers instantly interactive, regardless of what media channel is used to communicate.
About GreenStar Payment Solutions, Inc.
Founded in 2014, GreenStar Payment Solutions, Inc., headquartered in Denver, Colorado, a proud member of National Cannabis Industry Association, provides payment and merchant solutions and services to Legalized Medical and Recreational Marijuana Dispensaries in the United States. GreenStar's suite of services aims to provide dispensaries with a competitive advantage as a one-stop-shop for cannabis business owners with solutions including Non-Cash Merchant Solutions, Prepaid Rewards Programs, and more. For more information, please email us at info@GreenHousePaymentSolutions.com
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.
Source: SinglePoint, Inc.
Released September 23, 2014