SinglePoint, Inc. (OTCPK:SING) entered into a letter of intent to acquire 10% stake in Jacksam Corp. for $0.8 million in cash and stock on January 31, 2017. A definitive agreement on the announced transaction is expected no later than May 24, 2017, subject to certain terms and conditions, the completion of due-diligence and obtaining the required consents and regulatory approvals.

As of December 31, 2016, Jacksam Corp has $1.4 million of revenues. As of March 14, 2017, SinglePoint has completed the first round of funding to acquire a portion of Jacksam Corp.