PHOENIX, May 21, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – SinglePoint Inc (SING) announces a letter of intent to acquire ProActive Nutra, a GMP, FDA compliant CBD, mushroom and herbal cleanser manufacturing company operating in a GMP-compliant facility. The company currently manufactures over 30 products for the ProActive Nutra brand and many others as a private labeled finished product. ProActive Nutra is established in thousands of retail stores throughout the southwest of the U.S. and has the ability and plans to scale throughout the U.S.
“This is an exciting opportunity for SinglePoint. We have been fulfilling CBD products and formulations for customers already, and to bring that process in-house through this acquisition while increasing our revenue as well is a win-win for SinglePoint. This acquisition brings a solid business team with over 20 years of experience in the nutritional supplement space. ProActive Nutra is an established company with brands that have been established for over 25 years. The opportunity to grow this business is tremendous, and we look forward to working with the current management, who have brought it to the successful business it is now,” states Greg Lambrecht, CEO SinglePoint.
ProActive Nutra’s Immune 5+ product was a finalist for the editor’s choice award at Supply Side West. The company has been recognized for quality products and established a large following of its products, specifically the STAT! line of products, which ProActive Nutra currently has worldwide exclusive distribution rights for.
SinglePoint has been filling private labeled finished CBD products through co-packing partners over the last six months and looks to bring those products in-house through this acquisition to increase revenue and profitability for SinglePoint. This acquisition will bring additional revenue to SinglePoint and has been operating at above a 45% margin. The ability to scale quickly with additional distribution points provides a path to quickly increasing sales.
About PROACTIVE NUTRA™
ProActive Nutra is dedicated to changing the way that dietary supplements are developed. We believe that before taking on a specific condition affecting one’s quality of life there are certain fundamentals that must take place. All programs must start with a total body detoxification. Our bodies are under siege every day from toxins in the air we breathe, the water we drink, the food we eat, the cosmetics we use and the recreational toxins we ingest in our quest to relax. Great health must start with a clean slate. “It is not what you take, it is what you absorb that matters.” We believe that once these basic fundamentals are in place through regular supplementation, our body will naturally heal many of the conditions affecting our quality of life. We do understand that conditions can persist. ProActive Nutra will continue to produce condition-specific nutritional products that utilize leading-edge science-based ingredients, delivery systems or technologies as pathways to optimal health and vitality.
PROACTIVE NUTRA is now the Exclusive Worldwide Distributor of STAT! Detox products.
About SinglePoint, Inc.
SinglePoint, Inc (SING) is a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, the company is providing products and services to the cannabis industry.
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.