Smart Cannabis Corp. and SinglePoint Inc. announced that they have formalized the letter of intent signed earlier this month into a multifaceted joint venture and co-marketing agreement. Under terms of the agreement, SinglePoint has signed a license and representation agreement to distribute Smart Cannabis' SMARTAPP automation software product, and soon-to-be-released "Track and Trace Software System," for the cannabis marketplace.

These software platforms are a natural add-on extension to SinglePoint's recently announced cybercurrency payment processing system. The agreement also provides for the companies to invest development resources that will extend cybercurrency transactions so that commercial scale cultivation clients can track and transact their business with clients using blockchain technology and SinglePoint's cybercurrency payment portal. SinglePoint will also work intimately with Smart Cannabis to effectively implement Blockchain technology into their "Track and Trace Software System." As stated previously, the joint venture is a multi-faceted agreement.

The companies intend to announce the next phase of their relationship in the near future. In the meantime, they are aligning their marketing strategies in preparation for cannabis legalization in California next month.