SACRAMENTO, Calif., Dec. 6, 2017 /PRNewswire/ -- Smart Cannabis Corp (OTC PINK: SCNA) and SinglePoint, Inc. (OTC: SING) have signed a letter of intent to formalize a multi-faceted joint venture and co-marketing relationship for the cannabis market bringing cyber currency payment solutions together with our SMARTAPP automation software product, and soon-to-be-released "Track and Trace Software System," which will be a natural add-on extension to SinglePoint's current payment processing system.
The SMARTAPP is currently installed and functional in our testing facility as it undergoes final approvals from the iTunes store. It is slated to roll-out to fifteen of our recent installs in January 2018. Controlling the growing environment is a technique that is estimated to generate over $21B annually in the U.S. as data is critical in helping growers reduce costs and increase revenues per Agrilyst. The companies announced that they intend to work together to extend cyber currency transactions so that clients can buy Smart Cannabis automated greenhouses and pay subscription fees for the company's SMARTAPP which uses IoT (Internet of Things) to measure scientific factors affecting optimal growth of cannabis. SinglePoint is working intimately with Smart Cannabis Corp to effectively implement Blockchain technology into their "Track and Trace Software System." This collaboration reaches a massive cannabis market that produced a reported $6.7B in sales in 2016 and is projected to be in excess of $50B by 2020.
John Taylor, President of Smart Cannabis Corp, stated, "SinglePoint is an ideal partner for us to expand our business beyond California for our line of innovative automation and our trace and tracking software solution for cultivators. In this Joint Venture with SinglePoint, we will have the ability to market our products on a broader scale. Additionally, we believe the uptrend in cyber currency use in the cannabis marketplace will continue to expand, and being part of their exchange will help us grow the foundation of our business exponentially."
Greg Lambrecht, President of SinglePoint, Inc., stated, "We are very impressed with the results that Smart Cannabis has quickly achieved in California, and we believe this relationship with them provides a great deal of synergy both in California and in the nationwide cannabis business. Our expertise in payment processing and point of sale systems is a perfect fit for track and trace technology they have developed to date. We look forward to helping them expand and accelerate deployment of that solution. As we have stated, our overall goal is to have a fully integrated solution for businesses to manage their day-to-day operations from beginning to end, and Smart Cannabis operates to that same goal with their automated greenhouse solutions. We are glad they have turned to us to collaborate on their software solutions, and to be a part of our bitcoin exchange and cyber currency efforts."
The companies will release more details about their proposed multi-phased relationship in the near future, but announced their intentions in a joint interview on MoneyTV December 1, 2017.
About Smart Cannabis
Smart Cannabis Corp., (OTC PINK: SCNA) is a public equity corporation focused on the advanced agriculture and cannabis industries with plans to grow through acquisition, strategic alliances, and proprietary intellectual property. The company's wholly owned subsidiary Next Generation Farming Inc. provides turnkey commercial SMART greenhouse and automation systems that improve yields and decrease water consumption for cultivators of organic food and cannabis crops. The company's websites are: http://smartcannabis.com http://nextgen.farm.
About SinglePoint, Inc.
SinglePoint, Inc. (SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Through diversification into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, thereby providing a rich, diversified holding base. Through its subsidiary company SingleSeed, the company is providing products and services to the cannabis industry.
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SOURCE Smart Cannabis Corp.