Pure Products LLC has selected SinglePoint, Inc. (OTCMKTS:SING) as its prime distributor for the sales of Pure Hemp Cigarettes. Chief Executive Officer of SinglePoint, Greg Lambrecht, said the master distribution accord with Pure Products is a natural fit for the company. The CEO said the company previously serviced over 30,000 accounts across North America. Greg is pleased with the new opportunity and uses existing contacts of the previous company to market Hemp cigarettes. According to Greg, many retailers are anxiously waiting for this type of cigarettes.
Customers prefer tobacco with low THC
Steve Ross, President at Pure Products, said the trend is now towards hemp/cannabis cigarettes with low THC (less than 0.3%). He said the company sees SinglePoint as the best partner to market its all-natural hemp cigarettes across the nation at a fast pace.
Wil Ralston, president of SinglePoint, said his team would play a vital role to position this outstanding product as a leading product in the market. According to SinglePoint, specialty shops and retail outlets across the nation are eagerly waiting to dedicate the shelf space for hemp cigarettes in the CBD category. The retailers will improve their profits and revenues by selling the Pure Brand all-natural hemp cigarettes.
According to Ralston, the company already signed a definite agreement in the industrial hemp space with a major provider. This agreement with Pure Products is a bold move for SinglePoint. This new opportunity strengthens the position of SinglePoint. The combination of Pure Products team and Steve Ross will expedite the company to place the finished products in the shelves of retail stores.
CBD sales in the US to cross $20 billion
The sales of CBD products in the US are expected to exceed $20 billion by the year 2024. Smokable hemp accounts for 2% of the CBD products sales. According to Brightfield Group, a cannabis research firm based in Chicago, smokable and dried hemp flowers is the rapidly growing segments in the CBD space.
Revenues of SinglePoint
The revenues of SinglePoint have surged to $856,859 in Q3 2019 when compared to $311,237 in Q3 2018. Its gross profits have considerably increased to $415,913 in Q3 2019 when compared to $85,537 in Q3 2018.