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. (OTC: SING), a state-of-the-art mobile technology and full-service mobile marketing company, has formally signed a Joint Venture Agreement with Advanced Content Services, Inc. (OTC: ADCS) and Christopher Wade Mills' GreenHouse Payment Solutions to form GreenStar Payment Solutions (GREENSTAR).

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.

Combined with its low oversold RSI reading and bullish MACD, the technical's looks great.

Marijuana Stocks have been cooling off lately after some big runs. This gives us a great opportunity to buy the weakness on some of the better pot plays.

SinglePoint, Inc. is a state-of-the-art mobile technology company and full-service mobile marketing agency.

Singlepoint's Mobile Payment technology, which will include an array of products for marijuana industry player.

SING operates a best-in-class mobile commerce and communication platform specifically designed to serve the needs of the non-profit community as well as the for profit companies. 

SING can make any campaign instantly interactive via the mobile phone. 

The ease of functionality allows clients to conduct business transactions, accept donations and engage in targeted communication campaigns through any mobile devices by sending  more messages, create more awareness, and raise revenues and donations.

And SING recently announced a partnership agreement with Worldwide Internet, Inc. and its affiliated company Green Company Holdings Inc., which will provide SinglePointTM access to its entire portfolio of holdings.

Green Company Holdings was recently announced as a subsidiary of Worldwide Internet, Inc. including a diversified portfolio of investments in the hemp and medical marijuana sectors.

Together SinglePointTM and Green Company Holdings will begin to implement and develop premier mobile marketing and mobile payment opportunities for the Medical Cannabis Industry via the subsidiaries.

"We are thrilled with the new partnership," states SinglePointTM CEO, Greg Lambrecht. "The partnership further solidifies our entry into the legalized Marijuana markets with our proprietary innovative payment solutions. As well, the relationship garners us an exponential increase inexposure to, and credibility with, potential clients in this multi-billion dollar sector, while providing connections in other verticals toward company growth."

You can learn more about Singlepoint, Inc (SING) at their website http://singlepoint.com

With the new Federal guidelines, financial institutions are highly likely to soften their positions. 

But, despite the giant step taken by the Obama administration to clarify the situation, banks themselves still seem leery to "wheel and deal" in the marijuana business and change in federal law is inevitable.

In the meantime, those that do dive in will boost their profits -- and those of their partners, too.

For traders looking to get in on the action, SING could be one of the best derivative plays in the growing marijuana sector.

Make sure SING is on your radar today.