PHOENIX, Dec. 8, 2020 /PRNewswire/ -- SinglePoint Inc. (OTC: SING) ("SinglePoint" or the "Company"), a company focused on providing renewable energy solutions, today provided an overview of multiple key initiatives to drive shareholder value and long-term growth.
Core Focus on Establishing Leadership Position in Renewable Energy Sector with Initial Focus in Solar Energy
SinglePoint has taken catalytic steps in transforming the traditional solar energy model and is committed to growing its national footprint. This highly scalable business model has enabled the Company to expand from ten to 38 states in the past year, alone. Through the execution of this model, the Company is leveraging synergistic acquisitions and partnerships to generate revenue in the solar industry by providing renewable energy solutions to consumers and small businesses.
"We have made 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, President 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. Additionally, we have implemented a strategic plan and begun taking steps to qualify for a national exchange, an effort we believe has the potential to increase the profile of SinglePoint and maximize shareholder value."
The solar energy market is experiencing exponential growing demand and is expected to reach $223 billion by 2026. To help sustain this growth, there is expected to be significant government support with investing heavily in renewable energy through direct investments, subsidies as well as tax credits. SinglePoint expects to be at the forefront of providing solutions to align with this growing demand.
"SinglePoint has gained significant momentum in the solar industry by revolutionizing the traditional model and providing customers with a fully integrated solution to easily access solar energy. Leveraging leading industry partners and our growing national network of installers, we have created a single hub that manages the full process from sales through to installation," continued Mr. Ralston.
With its initial focus in solar energy, the Company is building a foundation for future expansion opportunities including energy storage, charge points for electric vehicles and solar as a subscription.
Planned Spin-Off of Non-Energy Related Assets Expected to Unlock Shareholder Value
Over the course of 2020, the Company has actively been exploring strategic opportunities for its various non-energy related assets in an effort to streamline its product offering and solely focus on building the leading national solar network focused on residential and commercial projects. SinglePoint plans to initiate a spin-off (or other opportunity) of its non-energy related assets in Q4 2020. Along with these proposed spin-offs, the Company would restructure the management team.
These non-energy related assets include:
- 1606 Original Hemp: a provider of premium pre-rolled filtered hemp;
- SingleSeed: a provider of the highest quality USA grown and made hemp-based products;
- DIGS: a hemp manufacturing and distribution business; and
- ShieldSaver: An automotive technology business.
"As we work to establish leadership position in the renewable energy space, it is important to note that SinglePoint also has a portfolio of assets across multiple industries. We believe that spinning-out our assets like 1606 Original Hemp, SingleSeed, DIGS and ShieldSaver provides a platform to maximize shareholder value," commented Greg Lambrecht, CEO of SinglePoint.
Focus to Uplist to a National Exchange Expected to Establish a Footprint on Wall Street
SinglePoint intends to uplist to a national exchange with the goal of expanding the Company's visibility within the investment community, increase the liquidity of its stock, and broaden its shareholder base. As the Company continues to execute on its business strategy moving forward, SinglePoint fully intends to engage the proper consultants to build shareholder value and expand market exposure.
About SinglePoint Inc.
SinglePoint Inc. is a company focused on providing renewable energy solutions to consumers and small commercial businesses. SinglePoint is committed to building the largest network of renewable energy solutions and modernizing the traditional model. For more information, visit the Company's website (www.singlepoint.com) and connect on LinkedIn and Twitter.
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 future plans and objectives of the Company, the spin off of nonenergy related assets, qualification for a national exchange, 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.
JTC Team, LLC
SOURCE SinglePoint Inc.