SinglePoint and Convectium: Investing in Cannabis Packaging Speed
Running Circles Around Competition
Convectium is the inventor of the world’s first cannabis oil filling system and proprietary packaging systems. This is a major advancement at a time when about 80% of all concentrate
products (vapes and pods) are filled manually. By hand, oil cartridge fills are completed at a paltry 75 per hour. Convectium’s 710 Shark system can exceed that in less than a minute on its way to produce between 6,000-12,000 in an hour.
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The Biggest Thing Since the Dotcom Boom
Vilified for decades, cannabis is now being trumpeted as a serious medical breakthrough.
Cannabis cannabinoids can be found in more than 1,000 products, ranging from edibles to beverages to pet products to skin creams. These cannabinoids generally consist of CBD (cannabidiol), a non-intoxicating component of cannabis and hemp, and THC (tetrahydrocannabinol), the part of cannabis responsible for the psychoactive “high” often associated with marijuana.
The world is recognizing the medical benefits (and lack of side effects) of CBD. Hemp, which became legal across the U.S. at the start of 2019 through the passage of the Farm Bill, is defined as cannabis sativa containing less than 0.3% THC. In January 2018, the World Doping Agency removed CBD from its banned substance list, further validating its efficacy and safety.
33 U.S. states have legalized cannabis for medical uses, while 10 states and Washington, D.C. allow recreational uses. Last October, Canada legalized marijuana for all adults but products have been limited. Modified legislation will open the Canadian markets to a variety of new cannabis products, including extracts. That means that about 260 million people in North America has access to cannabis in one form or another.
To that end, it’s no surprise that the industry experts at Arcview Market Research and BDS Analytics are calling for the legal cannabis market in the U.S. alone to reach $22.2 billion in 2022.
About Jacksam/Convectium (Convectium)
Convectium is an automation solutions provider that designs and markets patented filling and capping machines for the cannabis industry. Built in the U.S., Convectium offers the only UL certified machines that work with nearly any commercially available cartridge, POD, vape or other container. On average, Convectium customers increase output by up to 60 times over hand filling as they reduce risk, costs and waste, and quickly get custom branded products onto dispensary shelves. Over 100 top CBD and THC concentrate companies rely on Convectium automation solutions.
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.
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.