Signal Bay to Acquire Cannabis Testing Lab in Portland
Oregon
Bend, OR -- August 30, 2016
Signal Bay, Inc. (OTC
PINK: SGBY) a leading provider of cannabis consulting,
operations, and laboratory services announced today its
intention to purchase a fifth cannabis testing laboratory located
in Portland, Oregon. This comes just days after announcing a fourth
laboratory purchase in Northern California.
CEO William Waldrop said, "We stated in an earlier press release
that we had hired Ronnie Schmidt, a former General Manager for
multiple Portland area dispensaries as a Sales & Marketing
Director. He brings a wealth of experience to the table and a vast
network of business contacts in the Portland market. In conjunction
with that strategic hire, we had planned to process any and all
accounts established by Ronnie through our existing facilities
until such time that we could open the doors on an entirely new
location in Portland. As of today, that plan has changed
significantly for the better.
Mr. Waldrop stated, "Today we ramped up our plans for growth by
signing a letter of intent to purchase an already existing testing
facility in Portland. With this one strategic move, the 90-120
day window we had in place for opening a facility in this market
has virtually been eliminated. This acquisition also adds hundreds
of already existing accounts to the Signal Bay portfolio. Add
Ronnie Schmidt to the mix and all of this combined has us convinced
that we are going to capture significant market share in Portland
and the surrounding communities.
Signal Bay operates state-of-the-art testing facilities and
offers accredited testing methodologies that ensure the safety and
potency of the nation's cannabis supply. As the legalization of
medical and recreational marijuana continues across the country,
demand for reliable cannabis testing facilities is increasing.
Mr. Waldrop finished up by stating, "This particular business is
already working with ORELAP towards state accreditation so that was
a positive sign for us, but there are four other key factors we
take into consideration when deciding whether to acquire an
existing lab. One is how well the existing management team will
blend in with our existing team and begin contributing to the
organization. We feel confident and frankly very excited about
having this particular group join us and we feel that this one will
also be a seamless transition. Two is the level of experience,
ethics and integrity as viewed by their existing clients, of which
they received multiple positive reviews. Three is opportunity for
revenue growth and cost savings, both of which can be realized
through this acquisition. And four is the passion of the employees
and culture of the organization. Theyre all just good people; hard
working and passionate about what they do. This move is a win-win
for all parties involved, including our shareholders. We will have
more to come on this transaction very soon.
About Signal Bay, Inc.: Signal Bay, Inc., through its
subsidiaries Signal Bay Research, Signal Bay Services and EVIO
Labs, provides advisory services, operational management and
analytical testing services to the legal cannabis industry. Learn
more at SignalBay.com or the company can be reached directly @
1-888-544-EVIO.
Notice Regarding Forward-Looking Statements in this press
release that are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Actual results
could differ from those projected in any forward-looking statements
due to numerous factors. These forward-looking statements are made
as of the date of this news release, and we assume no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the
forward-looking statements. Although we believe that any beliefs,
plans, expectations and intentions contained in this press release
are reasonable, there can be no assurance that any such beliefs,
plans, expectations or intentions will prove to be accurate.