Signal Bay Enters into Definitive Agreement to Acquire Viridis Analytics MA, LLC
 

Bend, OR -- July 27, 2017 -- InvestorsHub NewsWire -- Signal Bay, Inc. (OTCQB: SGBY) a leading provider of cannabis testing and advisory services announced today it has signed a definitive agreement to acquire Viridis Analytics MA, LLC., a cannabis testing laboratory located in Southborough, Massachusetts. Financial terms were not disclosed.  The transaction is subject to customary closing conditions, and is expected to close no later than July 31, 2017.    

CEO Mr. William Waldrop stated, "We are excited to complete the acquisition initially announced last month. This will increase EVIOs footprint to one of the fastest growing cannabis markets on the East Coast, and will provide a foundation for further expansion. The ArcView group forecasts the Massachusetts cannabis industry could reach $1.1 billion by 2020.

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 which is currently targeted to be effective July 1, 2018.  Mr. Waldrop commented previously that EVIO Labs estimates the Massachusetts total lab testing market is expected to exceed $30 million by 2020.

As the cannabis industry matures, accredited testing labs are becoming a mandatory part of the cannabis supply chain, Mr. Waldrop continued, This marks the third state in which EVIO Labs currently operates, and it plans to expand to several more states during the next two years.

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:

https://www.signalbay.com/