- SING enters joint venture with Box BioScience to fulfill existing hand sanitizer sales contracts
- Company leveraging growing popularity of 1606 Hemp cigarettes with increased distribution to new stores
- 1606 Hemp sales grew 133% this quarter and 233% in the current monthly period compared to last month
SinglePoint Inc. (OTCQB: SING), a diversified holdings company with operations in several high-performing market sectors, is back on track for growth in 2020 with plans to expand the launch of 1606 Hemp cigarettes with a new counter top display, along with distributing Simplex hand sanitizer in a joint venture with BOX BioScience. While many businesses struggle to scale the economic hurdles imposed by COVID-19, SING continues to update and innovate the sales strategies of its subsidiary businesses to increase sales, drive growth, and further develop the corporate brand.
SING’s expansion into hand sanitizer and disinfectant products through the joint venture with BOX BioScience reflects its commitment to delivering disinfectant solutions in response to COVID-19. The company’s offerings benefit its customers’ lives and are also environmentally friendly.
“One of the exciting things about doing the joint venture is that they have been doing this for a while, so they really have a great supply of product which we needed, and they also have some sales with some Fortune 500 companies,” noted Singlepoint CEO Greg Lambrecht during an interview on MoneyTV. “We are going to be getting some of that revenue in the joint venture, and it’s very exciting for Singlepoint.”
In addition to expanding its footprint in the consumer products space, SING’s hemp vertical is on track for growth, with sales expected to double this quarter as the company prepares to launch its new 1606 Hemp six-pack counter top display (http://ibn.fm/7krsk).
“The great thing about the hemp cigarette is, unlike tobacco, the hemp product can sit up on the counter,” commented Lambrecht in the interview. Made from broad-spectrum, American grown, harvested and cured hemp flower, the filtered pre-rolls are made with less than 0.3% THC and contain nearly 20% CBD in each pre-roll, providing a smooth alternative to tobacco products. With a fast-growing fan base of loyal users, the pre-rolls have seen a sales growth rate of 133% this quarter over the previous quarter along with a 233% growth in sales when compared with the same point last month.
“I was in that business for 30 years and actually took a cigar distribution company public on the Nasdaq,” explained Lambrecht. “We’re really excited about this box that we developed because this box is going to be able to sit right up at the counter. We’re going to be sending that out to our extensive store list, so I think in the upcoming weeks I’m hopefully going to really have some big results on some sales from some big chains and distributors that are going to take this product on.”
Besides the hemp and consumer healthcare spaces, SING also provides expertise and capital injections to fuel growth for its consumer products and solar energy subsidiaries. By helping its partner companies increase their market penetration, grow revenue, and improve cash flow, SING creates long-term value for its shareholders by providing opportunities to make diversified investments across a wide range of assets.
For more information, visit the company’s website at www.SinglePoint.com
NOTE TO INVESTORS: The latest news and updates relating to SING are available in the company’s newsroom at http://ibn.fm/SING