SinglePoint
(OTCQB: $SING) Launches Wholly Owned Brand 1606 Original Hemp
SinglePoint introduces -
1606 Original Hemp
PHOENIX - October 31, 2019 (Investorideas.com Newswire) SinglePoint,
Inc. (OTCQB:SING) has launched into the smokable hemp market, releasing its wholly owned
brand, 1606 Original Hemp. The brand will carry a variety of smokable hemp
products. Recently, the company presented at NACS 2019 and had a phenomenal
response driving the creation of 1606. To date, the company has shipped orders
to convenience store owners with a collective 250 doors and has interest from
over 100 parties that collectively have over 15,000 doors.
Read this in full at https://www.investorideas.com/CO/SING/news/2019/103111606OriginalHemp.asp
SinglePoint (SIGN): Original Hemp 1606 Cigarettes
The name derives from the first hemp crop planted in 1606 in North
America. SinglePoint has planned to expand the brand quickly through retail,
distribution, and a new ecommerce site currently in development.
In today's world, hemp is becoming very popular. The use of hemp has
evolved into diverse products such as lotions, oils, food, beverages, and
cigarettes. Smokable hemp is a developing trend, but is it a good way to
consume the cannabinoid? Here's what you need to know:
Hemp vs. Marijuana
Hemp and marijuana are both part of the cannabis family. However, hemp
will not get you high unlike marijuana, which is known for its psychoactive
effects. Marijuana has high levels of
THC, containing anywhere from 5%-35% whereas hemp has less than 0.3% THC. Hemp contains high cannabidiol (CBD) content which is not
psychoactive. Smoking hemp is a positive alternative to marijuana, "You get the same taste, the
same psychological feeling of smoking a joint, but without the high."
Replacing Tobacco
Pure American Hemp cigarettes (link) are nicotine and tobacco free. Some
research suggests that smoking hemp cigarettes could be a potential tool to
replace tobacco and nicotine addictions. According to a Brightfield Group
survey of more than 5,000 CBD users in the U.S.:
- 24% have used it to help quit smoking.
- Quitters are often replacing cigarettes
- with either smokable hemp or vaping.
- 41% of quitters have entirely replaced
- tobacco with hemp CBD.
Google trends reveals over the last year that hemp was researched more
often than tobacco and nicotine.
Initial Research
Initial research has shown CBDs ability to reduce cigarette consumption.
Researchers at University College London conducted a study of 24 smokers. Each were given an inhaler with
CBD or placebo. For one week they were to use the inhaler when they had the
urge to smoke. Those with placebo had no difference in cigarettes smoked, those
with the CBD inhaler significantly reduced the number of cigarettes smoked by
40%.
The Alternative Market
The Alternative Market has continued to grow drastically, 35%, from 2019
to 2018 while cigarettes stayed steady at 3.1%. With the addition of hemp
cigarettes and the recent vape scare, many assume the alternative market will
continue growing as people look for a "healthier for you" alternative
to cigarettes.
The Future
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.
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.
Connect on social media at:
Forward-Looking Statements
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.
Corporate Communication
SinglePoint Inc.
855-711-2009
investors@SinglePoint.com
SinglePoint.com
855-711-2009
investors@SinglePoint.com
SinglePoint.com
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