SinglePoint Inc. (OTCPK:SING) agreed to acquire the remaining 49% stake in Shield Saver, LLC recently. In a separate transaction, Board of Director and Shareholder approval of the proposed spinoff to SinglePoint shareholders of ShieldSaver, as a new separate public company. SinglePoint expects the first spin off to its shareholders of ShieldSaver prior to the end of FY2023 Q3.

That spin-off will involve the formation of a new standalone, experienced public company management transition team at ShieldSaver that will be focused on expanding previous industry partnerships and targeting a seamless transition with the goal of ensuring trading on the effective date of the spin off. SinglePoint expects that its ownership interests in Shield Saver will be distributed tax-free on a pro rata basis to all shareholders.