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SinglePoint, Inc. (OTCMKTS:SING) Appoints Lambrecht To Improve Revenues And Expand The National Footprint Of Direct Solar Of America

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SinglePoint, Inc. (OTCMKTS:SING) has appointed Mr. Corey Lambrecht as the new Chief Finance Officer to focus on expanding the national presence of Direct Solar America. Lambrecht will also be responsible for improving the revenues of the company. He previously worked as a senior executive in several public companies. Corey is also engaged in raising capital and played a vital role in uplisting to national exchanges that include NASDAQ, AMEX, and OTCQB capital markets.

Considers experience of new business development

President of SinglePoint, Wil Ralston, said the company is pleased to have Corey onboard to realize its strategic goals. Corey brings 20 years of experience in a public company. His skills will help to strengthen the management team and the company to improve shareholder value. Ralston said the company has appointed Corey considering the successful experience of new business development, strategic acquisitions, and sustainability. The presence of Corey will help the company to scale up the solar business.

An exciting vision for 2020

Greg Lambrecht, Chief Executive Officer of SinglePoint, has expressed gratitude to over 24,000 shareholders for their continued support. The company has set a revenue goal of $10 million for this year. It expects to generate a large share of the revenues of $10 million, mainly from Direct Solar LLC.

Becomes a fully reporting company with SEC

SinglePoint is now a fully reporting company with SEC in 2019. The company acquired a 51% stake in Direct Solar LLC. It also posted improved revenues last year. Greg said the company will focus on improving shareholder value through acquisitions.

Direct Solar conducts its business operations in 20 cities across 11 states; it introduced a national proprietary brand in Q3 and Q4 of 2019. 1606 Hemp, its wholly-owned brand, will introduce a variety of smokable hemp products, retail outlets, and distributors have already shown interest and picked up smokable hemp products. Direct Solar expects to post revenues of $3 million in 2019. It will contribute incremental revenues to SinglePoint in 2020.

Greg holds significant investments in SinglePoint to support operations and promote growth. He said the company improved sales significantly and improves the confidence going forward. The solar market expects to see great momentum this year and reap rich rewards for Direct Solar.

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Sugarmade Inc. (OTCMKTS:SGMD) Announce Acquisition Of Budcars Cannabis Delivery Service And Expansion Plans

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Sugarmade Inc. (OTCMKTS:SGMD) has announced statements from its CEO Jimmy Chan regarding its growth strategy in the California marijuana market. This comes days after the company announced the closing of a deal for the acquisition of Budcars Cannabis Delivery Service.

Sugarmade to capitalize on growing cannabis market in California

The CEO indicated that the California cannabis marketplace is rapidly changing with new investments and opening of more opportunities as public acceptance increase. Chan added that the cannabis sector has moved past the initial growth stage following the intensification of the crackdown on the illegal operators. There is significant promise in various sectors whose prospects have looked bleak in recent months. It is these areas that Sugarmade is targeting its investment activities.

Chan confirmed that the company sees massive prospects in the delivery services, manufacturing through co-branding as well as careful genetic cultivation. Sugarmade’s growth strategy focuses on being selective as well as targeting the best opportunities in the cannabis industry going to 2020.

The company recently announced an agreement to acquire a stake in Indigo Dye Group Corp-owned Budcars Cannabis Delivery Service. Sugarmade plans to acquire a 40% stake in Budcars for around $700,00 with an option to acquire another 30% interest. This will give the company a controlling interest in the Sacramento based company.

Sugarmade’s expansion plans

With the acquisition, the company plans to expand the delivery of Budcars beyond the Sacramento metropolitan area. They will achieve this through direct expansion as well as a strategic acquisition. Equally, the company plans to acquire and invest in ownership interest in other delivery services in Northern and Southern California. According to the company’s estimates, the regions have potential revenue of between $15 million and $20 million per year.

Similarly, Sugarmade has indicated that it has identified various cultivation operations they can invest in, and it is in talks with some operators over the same. At the same time, the company has begun working with tech innovators on various cannabis products, especially those with lesser-known cannabinoids. Sugarmade will introduce innovations into the market later this year.

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Supreme Cannabis Company Inc (OTCMKTS:SPRWF) Reports Revenues Of $9.059 Million In Q2 2020

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Supreme Cannabis Company Inc (OTCMKTS:SPRWF) has reported revenues of $9.059 million in Q2 2020. It is an increase of 17% when compared to the same period last year. However, its revenues declined from $11.433 million in Q1 2020 because of its transition from a wholesale business to recreational sales. The recreational sales accounted for $5.7 million in Q2 2020.

Implements a new operating structure

Supreme Cannabis has put into operation a new structure that includes a reduction in staff to improve growth and efficiency, profits in the long term. It moves forward to become a premium cannabis CPG company and drives the growth in the near term with its high-quality products and brands in different price segments. The company’s innovative sales model supports the consumer facing-brand portfolio. It distributes products across Canada.

Chief Executive Officer, interim president, and Director of Supreme Cannabis, Colin Moore said the company realigns its structure as well as the expectations considering the current state of the industry. He strongly believes that Supreme Cannabis can drive growth in the near term, derive long term growth and improve profits using its high-quality products and brands in every price segment.

Proud of the progress

Colin is proud of the progress of its team and focuses on revenue drivers in the near term. Supreme Cannabis is well-positioned to expedite CPG focused transition with its proven high-value brands in the recreational market and in-house processing capabilities. It is a licensed producer with cultivation infrastructure.

Supreme Cannabis is successful in Q2 2020 on the backdrop of introducing pre-rolls under the Sugarleaf brand addressing the mid-tier price point. The company will introduce more products soon to provide accessible and convenient experience to the customers. It will enhance its brand portfolio in the remainder of the year to add more revenues and capture market share. Supreme Cannabis achieves revenue growth using its recreational brands. The products introduced under the Sugarleaf and premium 7Acres brands will improve the sales volume.

Expands distribution of 7ACRES Brand

In Q2 2020, Supreme Cannabis has expanded the 7ACRES brand distribution in all the provinces in Canada. It is leveraging the partnership with Humble & Fume Inc and retail sales strategy to address the national revenues.

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Canopy Rivers, A Subsidiary Of Canopy Rivers Inc (OTCMKTS:CNPOF), Subscribes To 2.38 Million Units Of James E Wagner Cultivation Corp (OTCMKTS:JWCAF)

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Canopy Rivers Inc (OTCMKTS:CNPOF) has announced that Canopy Rivers Corporation (Canopy Rivers) subscribed to 2.38 million units of James E Wagner Cultivation Corp (OTCMKTS:JWCAF). The issue price for each unit is $0.21. Canopy Rivers invested $500,000 in James E Wagner through a private placement. Each unit comprises one-half of one Common Share purchase warrant and one common share in the capital of James E Wagner. Canopy Rivers can acquire one common share using the warrant at $0.275 per share on or before February 6, 2023.

Canopy Rivers holds 16.241 million shares and warrants

Canopy Rivers holds 16.241 million shares and warrants after the completion of the offering. Before this offering, the company held 13.86 million shares and warrants. The subscription is purely on investment basis. However, its decision may change at a later date.

Several developments at portfolio companies

The portfolio companies of Canopy Rivers have made several announcements recently. Chief Executive Officer and President of Canopy Rivers, Narbe Alexandrian, is appointed to the board of directors of National Cannabis Industry Association (NCA), the biggest cannabis trade organization in the US. He will hold the position of Director in NCA until 2022.

High Beauty Inc establishes presence in Canada

On January 30, 2020, High Beauty Inc has established its retail footprint in Canada. The company exhibited its skin care products to a group of influencers, professionals and the media in the beauty and fashion industries at Hudson’s Bay flagship store.

TerrAscend Corp’s two subsidiaries have received the nod for processing and cultivation of cannabis in the US. Also, TerrAscend NJ, LLC received a license in January 2020 from the Department of Health in NJ for the cultivation of cannabis. It is the second company in New Jersey to obtain cultivation permit. The company will extend medical marijuana in the state to meet the growing needs of the patients.

The Utah Department of Agriculture and Food has awarded Medical Cannabis Processor License to TerrAscend Utah, LLC on January 29, 2020. The company will inaugurate a processing facility in Utah.

Canopy Rivers has amended the terms of the $10 million loan to TerrAscend Canada Inc.

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