SinglePoint Secures $2,000,000 in Accretive Financing to Drive Recent Acquisitions Growth
SinglePoint Inc. (OTC: SING) announced the closing of a $2,000,000 financing transaction in preferred stock with GHS Investments, aimed at fostering growth and improving the balance sheet. Proceeds will support sales and marketing for its recent acquisition of Energy Wyze, a solar lead provider, and Box PureAir, a distributor of air purification technology. The company anticipates increased lead acquisition and operational profitability. President Wil Ralston highlighted past achievements and the importance of this funding for future expansion and enhancing shareholder value.
- Secured $2,000,000 in preferred stock financing to enhance capital structure.
- Proceeds to support sales and marketing for recent acquisitions, potentially increasing revenue streams.
- Acquisition of Energy Wyze expected to drive new lead generation and customer engagement.
- Efforts to improve overall financial health and aim for operational profitability.
- None.
PHOENIX, March 17, 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, closes a transaction for an aggregate of
Proceeds from the financing will be used for sales and marketing initiatives for the Company's recently acquired leading solar lead provider, Energy Wyze, and exclusive distributor of an industrial grade, American-made, high-proficiency energy-efficient air purification technology Box PureAir.
"GHS Investments has been a true partner in looking at the long-term growth of the Company and working to achieve those goals through financing. We are pleased to continue our work with them as we build momentum and propel the Company forward. This is another step in the right direction for SinglePoint to solidify operations, improve the balance sheet and continue towards the overall goal of up-listing to a national exchange," adds Wil Ralston President of SinglePoint
Mr. Ralston also added an update on the Company's recent subsidiaries, "As schools look to reopen, the need for clean air in the classroom has become the leading priority. Just this week the ESSER II funds have been assigned in many states and schools will be able to begin to take action and purchase the necessary equipment to meet the established guidance. Box Pure Air has submitted bids in schools throughout the nation and we hope that new orders will start to be completed soon and inventory will begin shipping. This funding will help drive the Company's goals through adding additional sales support functions among other opportunities that with capital can be acted upon."
In addition to Box Pure Air, SinglePoint will be able to drive new lead acquisition through its recent acquisition of Energy Wyze. The Company will now have additional working capital to drive more leads to its existing customers.
"We have accomplished a lot in the last year, from acquisition to debt repayment, which has strengthened the Company as a whole. This capital raise is the culmination of all the work we have put in to setting up the Company for long term success. With the clean-up of debt and hopefully reaching operational profitability soon within our existing business units we will be able to simply focus on growing shareholder value," concluded Mr. Ralston.
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.
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