Signal Bay to Expand EVIO Labs Cannabis Testing Division into
Massachusetts
June 26, 2017 - InvestorsHub NewsWire - Signal Bay, Inc. (OTCQB:
SGBY) a leading provider of cannabis consulting,
operations,
and laboratory services announced today its intention to acquire
Viridis Analytics MA, LLC., a cannabis testing laboratory located
in Southborough, Massachusetts.
CEO Mr. William Waldrop stated, "As we continue to expand our
mission of promoting clean cannabis across the US, today we are
solidifying our presence as a national service provider by entering
a letter of intent to purchase an established cannabis testing
laboratory in Massachusetts. According to the Massachusetts
Executive Office of Health and Human Services (EOHHS), May 31, 2017
report, there are currently 11 Registered Marijuana Dispensaries
and 100 with provisional certificates awaiting approval to open.
Last November during the general election, voters overwhelming
approved recreational marijuana. According to the ArcView group,
the Massachusetts cannabis industry could reach $1.1 billion by
2020.
Signal Bay operates state-of-the-art testing facilities and
offers accredited testing methodologies that verify 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 continued, "Viridis Analytics has a strong technical
team, the equipment and facilities to serve Massachusetts stringent
cannabis testing requirements. Also, our objectives and values are
in close alignment so we are very excited to have Viridis Analytics
to become a part of the EVIO Labs organization. As I previously
have stated; our plans are to grow EVIO Labs both organically and
inorganically. Well, strike one up for the inorganic column.
Massachusetts is expected to see tremendous growth, with its lab
testing revenues expected to reach over $30 million. 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
Signal Bay, Inc. (the Company) is an Oregon-based life sciences
company. Through its three subsidiaries: EVIO Labs, Signal Bay
Research, and Signal Bay Services, the Company provides analytical
testing services, management advisory services and scientific
research to the legal cannabis industry. The Company's EVIO Labs
division operates state-of-the-art facilities and offers accredited
testing methodologies to ensure the safety and quality of the
nation's cannabis supply. Learn more at http://www.signalbay.com or the Company can be reached
directly @ 1-888-544-EVIO.
Safe Harbor Statement
Any statements in this press release that are not statements of
historical fact may be considered to be forward-looking statements.
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. 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 www.signalbay.com
Investor Relations:
investors@signalbay.com