SinglePoint Enters Advanced Discussions to Acquire Sports Fantasy Enterprise; Courted by Leading Funders in the Sector
SEATTLE, WA -- (Marketwired) -- 11/24/15 -- SinglePoint, Inc. (OTC: SING) announces today great strides in its previously announced sports fantasy roll up acquisition strategy. SinglePoint has received tremendous response from Sports Fantasy Groups since the announcement last week that Sports guru Darren Heitner and his Dynasty Dealings are working with SinglePoint to identify and negotiate acquisition targets in the Daily Fantasy Sports (DFS) sector toward an overall roll up merger.
In addition, every candidate SinglePoint has been introduced to is interested in the Company's proprietary pay-by-text and processing capabilities.
Dynasty is a Sports Consulting company that works to revolutionize the sports and entertainment industries and it has already secured advanced discussions with a potential acquisition target with which SinglePoint now has an NDA and initial terms toward a win-win negotiation.
Lambrecht comments, "We couldn't be more impressed with Darren's influence and reach in this unique sector. It was our hope to secure tangible targets in the near term, but within the first week has exceeded our own expectations. I'm thrilled with the prospect of shareholders owning a piece of this world. SinglePoint's mobile technology is a perfect match for the sports fantasy industry. We are cultivating something here toward exponential shareholder value in a sector I believe is both exciting and profitable."
Recent legislative moves, such as the Cease and Desist by New York Attorney General to multi-million dollar companies DraftKings and FanDuel have caused some to wonder about the viability of the industry, but the SinglePoint Board of Directors are confident that though this may end up affecting a handful of states, it's nothing but good news in regards to the roll up strategy.
"Companies are looking for alternatives, flexibility," states Lambrecht. "Moving the companies into a public entity like SinglePoint gives them the upside in an exit strategy many may be seeking and this is reflected in our conversations with acquisition candidates. I am confident that DFS will continue to thrive legally and the Board is willing to make that bet accordingly toward increased shareholder value. The data capture in DFS membership information alone will be a worthwhile asset for SinglePoint regardless of the overall future of the industry."
Many bills propose to allow DFS to be under the oversight of the State Gaming Commissions, such as Senator Michael Ranzenhofer's bill in New York, which seeks to exempt DFS from the Gambling Code.
Ranzenhofer stated in an accompanied press release: "Time and time again, New York has stood in the way, whether by over-regulation or outright banning, of activities that are legal and enjoyed in most states across the country," said Ranzenhofer. "This bill further protects the rights of businesses and individuals who wish to engage in this type of commerce in the state of New York."
As well, in conjunction with the success SinglePoint has in discussions with valued targets, it has been approached by one of the Leading Funding entities in the Daily Sports Fantasy sector toward providing the capital necessary to negotiate a substantial stake in the DFS universe.
SinglePoint is a full-service mobile technology and marketing provider. We provide solutions that allow our clients to conduct business transactions, accept donations, and engage in targeted communication through mobile devices. Our products connect small to mid-size companies to their target markets by providing innovative mobile technology at reasonable rates. www.singlepoint.com
Text-A-Day is a state of the art mobile technology company and full-service mobile marketing agency. The company operates a best-in-class mobile commerce and communications platform specifically designed to serve the needs of the non-profit community. Text-A-Day makes any campaign instantly interactive via the mobile phone, regardless of what media channel is used to communicate with the consumer or donor. This functionality allows our clients to conduct business transactions, accept donations and engage in targeted communication campaigns with their customers/donors through mobile devices.
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 November 24, 2015