Signal Bay, Inc. Provides Review of 2016 and Shareholder Update
February 28 2017 - 9:38AM
InvestorsHub NewsWire
Signal Bay, Inc. Provides Review of 2016 and
Corporate Update
Bend, OR -- February 28, 2017 -- InvestorsHub
NewsWire -- Signal Bay Inc. (OTCQB:SGBY) the
market leader in cannabis testing, laboratory,
operations, and research services is pleased
to provide our shareholders a corporate
update.
2016 was a seminal year for Signal Bay,
demonstrating our commitment to being the clear leader in
delivering product safety and certainty to the legal cannabis
industry. We completed the acquisition of four operating cannabis
testing labs, three in Oregon and one in California that expanded
our operational footprint into the largest cannabis marketplace in
the world.
The Oregon acquisitions solidified the
company’s position as the defining leader of analytical testing
services in Oregon as new OLCC rules requiring the comprehensive
testing of all cannabis products sold in the state rolled out on
October 1st. At the same time the implementation of our
Spoke & Hub model of maximizing internal efficiencies allowed
us to provide our clients the most accurate tests in a timely
fashion. Our consulting division continued to expand in 2016 as we
assisted several new consulting clients with licensure and startup
of new marijuana establishments.
In April, the Company rebranded its Lab
Testing division as EVIO Labs to differentiate its Consulting and
Research divisions from the Analytical Lab
division.
In May 2016, the Company completed the
acquisition of Oregon Analytical
Services, an operating cannabis testing laboratory
located in Eugene, Oregon. In June, the Company completed the
acquisition of a majority ownership of Kenevir Research Inc. an
operating analytical and research laboratory located in Medford
Oregon positioned in the heart of Oregon’s thriving outdoor
cultivation region. In October, the Company completed the
acquisition of GreenHaus Analytical Labs, an operating
analytical laboratory located in Portland,
Oregon.
At the end of 2016 the company was in the
enviable position of operating 4 analytical testing labs
strategically positioned throughout Oregon to provide timely lab
services to over 1000 clients operating throughout the state.
In November, the Company completed its flurry
of 2016 acquisitions with the purchase of Green Style Analytics Lab
in Yuba City, California. Located 30 miles north of Sacramento and
operating a mobile lab delivery program for the previous five years
throughout the region from Bay Area to Humboldt to Redwood City and
beyond. This acquisition positions the company to springboard
its entry into the California marketplace with the rollout of
strict state mandated independent testing requirements for retail
cannabis commencing in January of 2018.
This year saw continued growth for Signal
Bay’s consulting services. We have signed a number of consulting
clients in Pennsylvania, California and Oregon to assist with both
local and state licensing application services, ultimately
submitting numerous marijuana establishment license applications on
behalf of clients. The company’s Maryland consulting clients
realized tremendous success with the results of the states highly
competitive application process announced in December. We
anticipate continuing to work with marijuana establishment
applicants in 2017 in jurisdictions throughout the
country.
CEO Will Waldrop stated that "Signal Bay
achieved many of its milestones of growth and efficiencies last
year and is working smart to enhance shareholder value in
2017. The rollout of Oregon’s comprehensive testing
protocols on October 1st of this year, along with the
numerous state changes, went a long way in allowing us to refine
and perfect our Hub & Spoke model that allows us to take on an
unprecedented number of clients and to deliver accurate and most
importantly to our clients; timely testing services demonstrated by
the internal metrics of seeing turnaround time on client samples
improving every month.
We are also working to implement a
corporate wide Laboratory Information Management System
Software (LIMS) to improve customer satisfaction by reducing
turn-around times and improve internal operational
efficiencies.
Mr. Waldrop continued
“The strongest feedback to validate our
business model by a wide margin comes directly from consumers
across the country and around the world who are consistently
demanding that the cannabis products they purchase for recreational
and/or especially for medical uses; whether in flower, edible, oil
or concentrate form; be certified free of contaminants and provide
accurate potency information, you could attribute this level of
consumer awareness to what can be described as the “Whole
Foods” effect, where informed consumers demand to know that the
products they are purchasing are safe.
Mr. Waldrop concluded by stating that
“We are continuing to evaluate
additional growth opportunities, leveraging our Hub & Spoke
analytical laboratory testing model to strategically position Signal Bay to be
the leader of cannabis compliance and analytical testing services
to support our mission of providing consumer and product safety
anywhere legal cannabis is available.”
About Signal Bay, Inc.: Signal Bay, Inc. is an
Oregon-based Life Sciences company. Through its three subsidiaries:
Signal Bay Research, Signal Bay Services and EVIO Labs; the Company
provides research, consulting services, and analytical testing
services to the legal cannabis industry. The Company's EVIO Labs
division operates state-of-the-art testing facilities and offers
accredited testing methodologies performed by a qualified team of
scientists to ensure the safety and quality of the nation's
cannabis supply. Learn more at http://SignalBay.com or the
company can be reached directly @ 1-888-544-EVIO.
This news release contains "forward-looking
statements" as that term is defined in Section 27(a) of the
Securities Act of 1933, as amended, and Section 21(e) of the
Securities Exchange Act of 1934, as amended. Statements may contain
certain forward-looking statements pertaining to future anticipated
or projected plans, performance and developments, as well as other
statements relating to future operations and results. Any
statements in this press release that are not statements of
historical fact may be considered to be forward-looking statements.
Words such as "may," "will," "expect," "believe," "anticipate,"
"estimate," "intends," "goal," "objective," "seek," "attempt," or
variations of these or similar words, identify forward-looking
statements. These forward-looking statements by their nature are
estimates of future results only and involve substantial risks and
uncertainties, including but not limited to risks associated with
the uncertainty of future financial results, additional financing
requirements, development of new products, our ability to complete
our product testing and launch our product commercially, the
acceptance of our product in the marketplace, the uncertainty of
the laws and regulations relating to cannabis, the impact of
competitive products or pricing, technological changes, the effect
of economic conditions and other uncertainties detailed from time
to time in our reports filed with the Securities and Exchange
Commission, available at www.sec.gov or https://signalbay.com/investors.
Investor Contact:
William Waldrop, CEO
william@signalbay.com
(541) 633-4568