SinglePoint Provides Executive Management Team Update

Rhea-AI Summary

SinglePoint Inc. (OTC: SING) announced key executive management changes, with Wil Ralston transitioning to Chief Executive Officer, following the spin-off of 1606 Corp. Ralston aims to implement growth strategies that focus on renewable energy and indoor air quality solutions. He emphasized the company's commitment to expanding its solar business and pursuing strategic alternatives, including potential spin-offs of non-energy assets. The solar industry is projected to quadruple by 2030, presenting growth opportunities for SinglePoint.

Positive

• Wil Ralston appointed as CEO, indicating potential leadership stability.
• Focus on renewable energy and indoor air quality aligns with market growth trends.
• Spin-off of 1606 Corp. could unlock shareholder value and improve focus.

Negative

• None.

PHOENIX, May 25, 2021 /PRNewswire/ -- SinglePoint Inc. (OTC: SING) ("SinglePoint" or the "Company"), a company focused on providing renewable energy solutions and energy-efficient applications to drive better health and living, today provided an update on the transitions and appointments to its executive management team.

Wil Ralston, who previously served as President and Director will become Chief Executive Officer and Director of SinglePoint pending contract completion. Greg Lambrecht, who previously served as Chief Executive Officer of SinglePoint has effectively transitioned to his role as Chief Executive Officer of 1606 Corp., which was recently spun off as its own entity.

Preparations for this succession plan with Wil Ralston assuming the helm of SinglePoint Inc. has been underway and was catalyzed with the spin-off of 1606 Corp. The Company believes with this succession, Mr. Ralston can implement growth strategies for the existing SinglePoint business units and continue to streamline the offerings focused on the emerging opportunities in Clean Air – Indoor Air Quality and Renewable Energy. 

Greg Lambrecht stated, "I am excited to leverage my experience in retail distribution and emerging public companies for the shareholders of 1606 Corp.  I am confident in the team I have assembled and look forward to communicating our vision and outlook to leverage the massive opportunity at 1606 Corp. I have full confidence that Wil and the team at SinglePoint will continue to make daily decisions to improve and grow shareholder value."

Since joining SinglePoint, Mr. Ralston has led many important initiatives for the Company, including its acquisition strategy and launching new product offerings from concept to production. During his tenure as President at SinglePoint, Mr. Ralston was responsible managing day-to-day operations and spearheading the corporate strategy. In additional to onboarding new clients Mr. Ralston was instrumental in preparing the Company to become audited and a fully reporting issuer.

"I am honored to be appointed CEO of SinglePoint at such a pivotal time in the evolution of the Company. On behalf of the SinglePoint Board of Directors and management team, we would like to thank our long-serving CEO and Chairman Greg Lambrecht for his ongoing support, commitment and passion as he steps into the role of CEO and Chairman of 1606 Corp. Since I joined SinglePoint, we have made many strategic acquisitions which position us to leverage our industry-leading expertise to make a significant impact in the renewable energy space, an industry that is seeing significant exponential growth," stated Wil Ralston, incoming Chief Executive Officer of SinglePoint. "To remain laser focused on execution and establishing SinglePoint as a leader in renewable energy, we intend to seek strategic alternatives, including the spin-off of our non-energy related assets."

As SinglePoint implemented its strategic growth and diversification plan, the Company executed its first spin off, 1606 Corp. which has become its own entity. Future intended spin offs will provide shareholders additional value while enabling the companies to continue to grow independently while SinglePoint continues to grow its renewable energy footprint.

SinglePoint's management will continue to concentrate its efforts on analyzing, improving and expanding its existing solar businesses while exploring additional accretive acquisitions or partnerships in healthy living and renewable energy applications. The Company will continue to look for accretive acquisitions in an effort to create the first truly national network in the sector.

The solar industry is estimated to quadruple by 2030 according to the US Solar Market Insight 2020 Year-in-Review report, released on March 16, 2021 by the Solar Energy Industries Association (SEIA) and Wood Mackenzie. Currently only 4% of the addressable residential homes in the US domestic market have solar with a similar number for small commercial opportunities. Residential solar sales will continue to grow as loan providers roll out attractive products, interest in home improvement surges, and customers suffering through power outages from extreme weather events seek energy resilience.  The total value of the US Solar Market in 2020 was estimated at $24.1 billion.

About SinglePoint Inc.

SinglePoint Inc. is a renewable energy and sustainable lifestyle company focused on providing environmentally friendly energy efficiencies and healthy living solutions. SinglePoint is initially focused on building the largest network of renewable energy solutions and modernizing the traditional solar and energy storage model. The Company is also actively exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, and additional energy efficiencies and appliances that enhance sustainability and a healthier life. For more information, visit the Company's website (www.singlepoint.com) and connect on LinkedIn and Twitter.

Forward-Looking Statements

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 plans and objectives of the Company, the use of proceed, anticipated growth and future expansion, 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.

Investor Contact: 

JTC Team, LLC
Jenene Thomas
833-475-8247
SING@jtcir.com 

 

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SOURCE SinglePoint Inc.

FAQ

What recent changes occurred in the management team of SinglePoint (SING)?

Wil Ralston has been appointed as the new CEO of SinglePoint, transitioning from his previous role as President.

What are the future plans for SinglePoint (SING) under new leadership?

The new CEO plans to implement growth strategies focused on renewable energy and explore potential spin-offs of non-energy related assets.

How is the solar industry expected to impact SinglePoint (SING)?

The solar industry is projected to quadruple by 2030, offering significant growth opportunities for SinglePoint's business.

What is the significance of the spin-off of 1606 Corp. for SinglePoint (SING)?

The spin-off allows SinglePoint to focus on its core renewable energy business and could provide additional value to shareholders.

What are the qualifications of Wil Ralston as CEO of SinglePoint (SING)?

Ralston has led important initiatives at SinglePoint, including acquisition strategies and corporate strategy development.