SinglePoint, Inc. Announces Finalization of GreenStar Payment Solutions, Inc. Acquisition
SEATTLE, WA -- (Marketwired) -- 01/23/15 -- SinglePoint, Inc. (OTC: SING) is pleased to announce that it has completed its acquisition of GreenStar Payment Solutions, Inc. (GreenStar) from former venture partners, GreenHouse Payment Solutions and New Wave Holdings, Inc. (fka Advanced Content Services, Inc.).
GreenStar is now a wholly owned subsidiary of SinglePoint and will be leveraged as a brand servicing the legalized cannabis industry with a number of service-based laterals for business owners in the space. SinglePoint CEO Greg Lambrecht states, "We are happy to have this completed. We can now move forward to fully position and utilize the brand for further reach into its respective markets including dispensaries and retail."
SinglePoint is gearing to distribute more than just payments through the GreenStar brand and will be restructuring the company as a distribution and product placement company. "The company has accumulated many contacts in the last year and we believe we can place more than just payment solutions in stores around the nation," adds Lambrecht. GreenStar is currently working on placement deals and will update shareholders in the coming days with an overview of the subsidiary's new platform.
GreenStar is a subsidiary of SinglePoint (OTC: SING). GreenStar focuses in providing a well developed distribution channel to place products and payment solutions in retail and convenience store locations.
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 January 23, 2015