NetworkNewsWire, a multidimensional financial news and publishing firm reported the issue of an editorial showcasing Singlepoint Inc (OTCMKTS:SING), an NNW customer focused on expanding its acquisition portfolio of small-to-mid sized firms. The publication analyzes some of the pot-related messages from the White House, and offers insight into the different businesses of numerous firms operating in the booming market.
As per the report on Singlepoint, mixed marijuana messages coming from new administration focuses on importance of diversification. Reading marijuana policy under the new administration can be tough, provided differing statements coming from White House officials. Federal regulations are at odds with many states that have approved marijuana for recreational and/or medicinal use, and operations like that of Singlepoint function in a manner that protects them against specific risks of federal ban.
The company specializes in the acquisition of small-to-mid sized firms. Through its subsidiary firm SingleSeed.com, which several years earlier prepared to provide payment-processing offerings to marijuana dispensaries, the company continues to assess ways to offer financial services to marijuana companies
The provision of payment services is an important part of Singlepoint’s “no-touch” plan, an approach best shown by its acquisition of a part of Jacksam Corp., a California-based provider firm of equipment, packaging and branding offerings for the cannabis market. Singlepoint recently stated that it had completed the initial round of funding for the deal.
Greg Lambrecht, the CEO of Singlepoint, reported that they have assessed various investment opportunities in the cannabis industry, and identified there is nothing that matches to this prospect they have with Convectium. With this deal, they will buy a stake in a cannabis market that never touches a marijuana crop. This is the plan they will use as they move forward to hedge against changing state and federal laws.
Convectium has advanced the world’s first oil-filling mechanism for disposable vape pens and cartridges for wholesale distribution to dispensaries.