Phoenix, AZ, Dec. 06, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — SinglePoint (OTCQB:SING) announced today that it has signed an agreement with AFG Distribution of North Carolina to sell, market, and distribute the company’s newest product “1606 Original Hemp” a filtered hemp pre roll. The companies will exhibit at the MJBIZCON show in Las Vegas December 11-13, 2019. Singlepoint is in booths C9132 and C4247. AFG is in booth C2558.
According to Wil Ralston, President of SinglePoint, “A phenomenon is occurring where people are substituting or modifying tobacco consumption with smokable hemp. We believe we have the best filtered hemp pre roll using 100% hemp in the market and are tremendously excited to partner with AFG Distribution to accelerate our product placement into mainstream and alternative retail outlets nationwide.”
AFG Distribution Marketing Manager Bennett Dickert stated, “I see the smokable hemp trend continuing to grow across our over 8,000 accounts and my team here at AFG is excited to represent this outstanding product. We are confident that we can help establish ‘1606 Original Hemp’ as a meaningful leader in the hemp pre-roll category. Retail outlets and specialty shops across the country have dedicated shelf space for CBD and are anxious to expand, especially with hemp pre-rolls. SinglePoint as a public company brand brings an elevated standard of product to the market thereby enhancing the consumer’s experience while adding revenues and profits to the retailers.”
Don Smith, SinglePoint VP of Sales, added, “After a successful launch of ‘PURE’ at the NACS show in October, it became clear we needed to introduce an 85mm King Size product to meet the expectation of our customers. In launching the ‘1606 Original Hemp’ brand, SinglePoint has made another bold move to solidify our place in the industry. Teaming with AFG and their impressive sales team accelerates our plan to put finished goods in front of consumers.”
BDS Analytics and Arcview Market Research projects that the collective market for CBD sales in the U.S. will surpass $20 billion by 2024 while New York-based investment bank Cowen & Co, estimates that the market could pull in $15 billion by 2025. The smokable hemp market currently represents approximately 2% of the overall CBD market, but with a 250% growth from 2017 to 2018, Brightfield Group, a Chicago-based cannabis market research firm, identifies dried and smokable hemp flowers as one of the fastest-growing segments of the CBD market.
With the passage of the 2018 Farm Bill and the mainstreaming of CBD hemp flower, the market is growing rapidly. There is a significant need for reliable suppliers with the capacity to move product. Its demonstrated capacity to deliver has established SinglePoint as one of the dominant players in the CBD and hemp marketplace.
Interested parties can contact SinglePoint via its dedicated hemp-line: 855-203-3318 or email@example.com
About SinglePoint, Inc.
Founded in 2011 SinglePoint, Inc. (SING) invests in and acquires brands and companies that will benefit from injection of growth capital and the sales and marketing expertise of SinglePoint. The company portfolio currently includes solar renewables, Hemp and distribution tobacco products. SinglePoint is working to grow to a multi-national brand.
About AFG Distribution, Inc. http://www.afgdistribution.com
AFG Distribution, founded in 1999 started by peddling its wares in parking lots at Grateful Dead and Phish shows in the 90s. Since then, AFG Distribution (previously All Fun Gifts) has grown immensely to become your Original One Stop Alternative Wholesaler. We currently carry over 8,000 products and are constantly sourcing and adding more unique items.
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.