Smart Cannabis Expands Joint Venture with SinglePoint
SACRAMENTO, Calif., Feb. 13, 2018 /PRNewswire/ -- Smart Cannabis Corp, (OTC: SCNA), announced today it has significantly broadened its joint venture agreement with Singlepoint, Inc., (OTC: SING) providing SinglePoint with the rights to sell Smart Cannabis' Smart by Design greenhouses. This provides Smart Cannabis additional footprint to grow its base and SinglePoint access to some of the best greenhouses on the market.
Under terms of the agreement, SinglePoint will be have an exclusive agreement on Smart Cannabis products sold and installed within Arizona, which includes the company's line of SMART by Design™ automated greenhouse systems including the SMARTAPP automation software product, and the soon-to-be-released "Track and Trace Software System." Arizona is one of the nation's largest MMJ Markets and show no signs of slowing down. Most recently bipartisan legislation was introduced through House Concurrent Resolution 2037 that would allow legalized marijuana of one ounce or less for personal use. According to Phoenix New Times and Arizona Department of Health Services, medical cannabis consumption was up over 50 percent in Arizona in 2017, with over 43 million tons sold. Sales also soared in 2017, reaching an estimated $387,000,000, according to AZ Central.
Smart Cannabis CEO John Taylor exclaimed, "Expanding into the Arizona market will increase our growth potential dramatically and we're thrilled to be doing this with a reliable partner such as SinglePoint." To his point, SinglePoint President Wil Ralston stated, "We are excited about this opportunity. The company has some great connections in Arizona and some soft commitments on potentially purchasing some greenhouses from us. Additionally we are excited for the Track and Trace Software we believe with our development team we can really ramp this up and introduce it to the relationships we have here."
In accordance with a previous agreement, the SMARTAPP will soon include the bitcoin payment gateway that the companies are actively developing to make payments transactions easier for all parties involved.
Smart Cannabis (OTC PINK: SCNA) is a public equity corporation advancing the agriculture and cannabis industries and growing through acquisition, strategic alliances, and proprietary intellectual property. The company's wholly owned subsidiary, Next Generation Farming Inc., provides turnkey, automated, commercial greenhouses systems that efficiently improve yields and decrease water consumption for cultivators of organic food and cannabis crops. The company websites are http://smartcannabis.com and http://nextgen.farm.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. The company may make forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates that reflect the company's best judgment based upon current information. All investments involve risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.
Smart Cannabis Corp.
Don Smith, Vice President
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