-Regaining OTCQB compliance sets stage for further growth
-Company continues to deliver fundamental structural improvements to support growth
-Focused on producing increased visibility and driving shareholder value
SinglePoint Inc., a company focused on providing renewable energy solutions and energy-efficient applications to drive better health and living, announced that its application for a listing to the OTCQB® Venture Market has been approved and it will begin trading at the open of the market on August 13, 2021.
The Company’s shares will trade in the United States on the OTCQB under the symbol “SING”. Existing U.S. shareholders of SinglePoint shares, previously quoted on the OTC® Pink Open Market, will now be quoted on the OTCQB without any further action needed.
Among multiple core improvements across the business this has been a key driver for the company. Considering the ever-changing landscape in the markets and the recent amendments to rule 15c2-11 the company found it paramount to continue improve the profile of the Company. While many of these structural changes have not been recognized in the market, they are designed to ensure the long-term viability of the company and provide a platform for long-term growth.
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Over the past 9 months the company has restructured debt, cancelled convertible preferred shares, reduced potential dilutive securities, cancelled outstanding warrants, reduced derivative liability and spun off non care assets to its shareholders. The debt restructure has reduced current liabilities which has been an inhibitor to growth and listing. These improvements will provide SinglePoint the ability to continue growth with accretive partners and raise capital at the best possible terms for the company as the investment profile continues to improve.
“We have continued to work diligently to execute on significant growth opportunities and increase value for shareholders. Our listing on the OTCQB is yet another accomplishment in that pursuit. Listing on the OTCQB provides us with greater visibility within the investment community and valuable capital markets exposure. As we’ve stated previously, the SinglePoint team and the partners with whom we are working are committed to driving a bright future consisting of execution with solid performance with the goal of delivering results in building out valuable, profitable business segments. We look forward to driving the business forward and unlocking significant shareholder value in the near and long-term,” stated Wil Ralston, Chief Executive Officer of SinglePoint.
The OTCQB® Venture Market provides value and convenience to U.S. investors, brokers and institutions seeking to trade SING. The OTCQB® Venture Market is OTC Markets Group’s premier market for early stage, investor-focused U.S. and international companies. To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.
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