SinglePoint(TM), Inc. Signs Joint Venture to Launch GreenStar Payment Solutions to Provide Legalized Cannabis Industry With Merchant Services, Prepaid Solutions and Incentive Programs
PHOENIX, AZ--(Marketwired - May 22, 2014) - SinglePoint, Inc. (
One of the competitive offerings GreenStar will provide are tools for Medical Marijuana dispensaries to use their debit cards at the dispensaries. This merchant segment generated over $2 billion in revenues last year, virtually none of which was done through electronic payment devices such as credit and debit cards. The market is expected to reach over $50 billion in annual sales by 2020.
GREENSTAR transforms what is mainly a cash business into electronic payments, allowing customers to utilize debit cards and other forms of non-cash payments to make purchases, providing mutual benefit for dispensaries and their customers.
Chris Mills, featured in a Wall Street Journal article earlier this year , will be appointed as GREENSTAR CEO. As CEO, Mills will aggressively harvest new customers with a brand positioned to serve as an non-cash solution for both legalized recreational and medical marijuana business owners.
Mills, a member of the National Cannabis Industry Association , was appointed, first and foremost for his experience and expertise, including a strong network of industry relationships such as that with Denver Relief Consulting , which is renowned for its work to cultivate quality cannabis operations and industry leaders committed to advancing best practices. Chris has currently set up payment processing in over 100 medical marijuana dispensary clients in Colorado, Arizona and Washington State.
Currently, the JV is actively working to secure additional customers for GREENSTAR, with plans to accrue 1000 merchant clients by end of year.
"This is a milestone venture for all involved," states SING CEO Greg Lambrecht. "As distribution partners in the JV, we intend to capture an impressive market share of dispensary merchants. Given our team's collective strengths and my own background in distribution, the possibilities here including almost immediate revenues, are significant."
Lambrecht has extensive experience in bringing new and existing products to market, including Can-Am, a company he founded in to service mass merchandisers in Canada; he later expanded Can-AM into Premium Cigars International (PCI). Mr. Lambrecht successfully developed and grew the PCI's cigar distribution program to 20,000 accounts.
Also, as VP of Sales for Single-Stick, a retail tobacco company, Mr. Lambrecht increased sales from $300,000 USD per year to $40 Million per year. Over the years, Lambrecht has launched several distribution companies from the ground up to service national mass merchandisers and retailers including his first venture, Rosehearts, Inc. in 1984. Rosehearts sold impulse products to convenience, grocery and "big box" stores throughout North America.
Execs from GreenHouse, SinglePoint and Advanced Content represent the Board of GreenStar and will hold their first official meeting in Denver next month. GreenStar has already confirmed attendance at major Industry shows through 2014, which will be detailed via press release prior to each event.
Dispensaries and legal business owners in the MMJ sector -- Find out how GreenStar can support you with superior business practices, competitive merchant service solutions and key revenue generators to improve your overall bottom line: info@GreenStarPayments.com .
About Singlepoint, Inc.
Headquartered in Phoenix, AZ, Singlepoint, Inc. is a state-of-the-art mobile technology company and full-service mobile marketing agency. Its best-in-class mobile commerce and communication platform was specifically designed to serve the needs of both the non-profit and commercial sectors, making any campaign instantly interactive via the mobile phone. SinglePoint's platform enables its clients to conduct business transactions, accept donations and engage in targeted communication campaigns with their customers/donors through any mobile device. For more information, please visit www.singlepoint.com , "Like" Singlepoint on Facebook and follow us on 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 future plans and objectives of the Company, 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.
Press Only Contact:
Eric Sokolsky
Plat4ormPR for SinglePoint
908-288-7201
eric@plat4orm.com
Investor Contact:
Greg Lambrecht
CEO
SinglePoint
602-481-1544
www.singlepoint.com
