EVIO Labs Prepared to Fund
California Cannabis Laboratory Expansion
Board of Directors approves massive reduction of authorized
shares
Bend, OR, Sept. 19, 2017 (GLOBE NEWSWIRE) -- EVIO, Inc. (OTCQB:
SGBYD) (EVIO or the Company) the nations leading provider of
analytical laboratory cannabis testing, research science and
advisory services, is pleased to announce that the Company has
authorized the reduction of the Companys authorized outstanding
shares from 1.01 Billion to 110 Million. The Company currently
has 21.35 million shares outstanding with 13.15 million controlled
by Company officers with the majority of those shares held by
company founders CEO Will Waldrop and COO Lori Glauser with 7.2
million shares in the public float.
The Board of Directors has ratified the authorized share
reduction subject to stockholder approval, with an eye to
positioning the Company to enter the next natural stage of growth;
expanding the Companys laboratory testing footprint and fully
funding the cannabis science research division.
EVIO CEO William Waldrop commented, We are celebrating today, as
we have entered a new phase of growth in the Company. During the
past 18 months we have scaled up from one (1) regional lab in
Oregon to eight (8) accredited EVIO analytical cannabis testing
laboratories operating in five different states from
coast-to-coast; Four in Oregon and one each in Colorado,
Massachusetts, Florida and California.
Mr. Waldrop continued, Currently our full team of scientists,
lab technicians and customer service members across the country are
gearing up for the rush of the fall harvest season; while our
leadership team is now in a place to consider capital partnerships
with investors who share EVIOs long-term vision of global
opportunity. Beyond our 2018 deployment of analytical cannabis
laboratories in California, EVIO is leveraging its treasure chest
of knowledge that we have built from performing over 50,000 tests
in the past two years, EVIO is exploring cannabis plant science and
genetic research opportunities, and considering opportunities in
legal cannabis marketplaces around the world.
Mr. Waldrop concluded, I would like to invite any of our
shareholders in the Los Angeles area to join me at the California
Cannabis Business Conference this weekend, Sept 21-22 in Anaheim,
California put on by the great folks from the California Cannabis
Industry Association (CCIA) in conjunction with the National
Cannabis Industry Association (NCIA) to talk about the Company.
more info: investors@eviolabs.com
About EVIO
EVIO, Inc. is a life science company that provides accredited
analytical testing services and scientific research to the
regulated cannabis industry. The Companys EVIO Labs division
provides state-mandated ancillary services in place to ensure the
safety and quality of the nation's cannabis supply. Learn more
at www.eviolabs.com.
1-888-544-EVIO.
Safe Harbor Statement
Any statements in this press release that are not statements of
historical fact maybe 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.eviolabs.com