CHICAGO, Oct. 11, 2017 (GLOBE NEWSWIRE) -- UAHC Ventures, LLC, a wholly-owned subsidiary of United American
Healthcare Corporation (“UAHC Ventures”), announced today that it has invested $600,000 with SinglePoint, Inc (OTC:SING) (“SING”)
through the purchase of a Secured Promissory Note and Warrant.
In exchange for UAHC Ventures’ investment, SING has issued UAHC Ventures both a Secured Convertible Promissory
Note in the original principal amount of $670,000 and a warrant to purchase 5,000,000 shares of SING’s common stock. Monthly
redemption payments due under the financing begin twelve months following the close of the transaction and may be made in cash or
by converting redemption amounts into shares of SING’s common stock.
UAHC Ventures was formed to pursue strategic investment opportunities in high growth industries. SING
specializes in the development of mobile bitcoin payment platforms which will be designed to meet the high demand for customer
payments solutions in the cannabis and medical marijuana industry.
“The cannabis and medical marijuana industry has seen tremendous growth in the last several years as various
states modify their respective regulatory environments,” said John Fife, President of UAHC Ventures, LLC. “Although states have
implemented new legislation, federal banking regulations have not allowed for cannabis businesses to bank in a normal manner,
creating a tremendous need for other commerce solutions. We believe the demand for mobile payment customer solutions that leverage
cryptocurrencies will experience similar growth and SinglePoint specializes in developing and implementing mobile e-commerce
platforms in varying industries. This provides SinglePoint with a significant competitive advantage and market opportunity as they
continue to refine their cannabis and medical marijuana industry specific applications.”
About United American Healthcare Corporation
United American Healthcare Corporation (“UAHC”), through its subsidiary, UAHC Ventures, LLC, pursues strategic
investment opportunities in various growth industries. Additionally, UAHC, through its subsidiary Pulse Systems, LLC, is a contract
manufacturing company that provides services to the medical device industry. UAHC nor any of its existing subsidiaries are an
"Investment Company" as defined by Section 3(a)(1) of the Investment Company Act of 1940 (the "Act") and are therefore not subject
to the regulations contained in the Act.
Forward-looking Statements
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends
to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are
intended to identify "forward-looking statements." All information set forth in this news release, except historical and factual
information, represents forward-looking statements. This includes all statements about the Company's plans, beliefs, estimates and
expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that
could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include
issues related to: rapidly changing technology and evolving standards in the industries in which the Company and its subsidiaries
operate; the ability to obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new
business, license and sign new agreements; the unpredictable nature of consumer preferences; and other factors set forth in the
Company's most recently filed annual report and registration statement. Readers are cautioned not to place undue reliance on these
forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to
publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Readers
should carefully review the risks and uncertainties described in other documents that the Company files from time to time with the
U.S. Securities and Exchange Commission.
Media/Investor Relations Contact
Christina Saxton
Chief Financial Officer
312-297-7018
tsaxton@chicagoventure.com
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