BEND, OR, April 20, 2016 (GLOBE NEWSWIRE) -- Signal Bay Inc. (OTC:SGBY) a leading provider of cannabis consulting, operations, and laboratory services is pleased to announce that it has successfully completed the spin out of its cannabis testing laboratory services division.
The newly formed company, EVIO Inc. (dba EVIO Labs) will focus on developing a network of analytical cannabis laboratories throughout Oregon, California and across the country. EVIO Inc. is a registered Oregon corporation with offices located in Bend, Oregon and is majority owned by Signal Bay Inc.
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“We are very excited to complete the spin out of EVIO Labs that will allow our technical team to focus their full attention on expanding our cannabis lab testing services here in Oregon and across the country,” said Signal Bay CEO William Waldrop.
Mr. Waldrop also stated that, “cannabis testing labs are highly scalable. With the full support of our team of scientists, led by Dr. Anthony Smith, we determined that the continued expansion of our lab services division was best served by this spin out to focus EVIO Labs exclusively on analytical cannabis testing.”
With the acquisition of CR Labs in Bend last year and the announced partnerships with Kenevir Research in Medford, Oregon and Oregon Analytical Services in Eugene, Oregon pending, as well as the announced opening of the first independent cannabis analytical testing lab in Humboldt County California later this year, EVIO Labs is poised to become a major contributor to ensuring the quality of our nations cannabis.
Dr. Anthony Smith the Chief Science Officer of EVIO Labs stated that “the biggest driver in the development of the cannabis lab testing business across the country is simply that as the cannabis market rapidly matures, sophisticated consumers are demanding to know that the product they are purchasing is safe.”
Dr. Smith continued, “State-of-the-art testing facilities and reliable testing methodologies will ensure that the safety and potency of the nation’s cannabis supply is protected and that data is published and available to all stakeholders; both medical and recreational consumers as well as the legislators responsible for ensuring that safety protocols are in place.”
Signal Bay, Inc. will continue to focus on the core competencies of licensing and compliance, advisory services, operational consulting and publishing.
About Signal Bay, Inc.
Signal Bay, Inc., through its subsidiaries Signal Bay Research, Inc., Signal Bay Services, Inc. and EVIO Labs, Inc., provides advisory services, operational management and analytical testing services to the legal cannabis industry. Learn more at www.signalbay.com.
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.
Source:Signal Bay Inc.