BEND, OR., June 06, 2016 (GLOBE NEWSWIRE) -- Signal Bay Inc. (OTC:SGBY) a leading provider of cannabis consulting, licensing, compliance and laboratory services, is pleased to announce that its wholly owned subsidiary EVIO Labs has completed the acquisition of a majority stake in Kenevir Research of Medford, Oregon. Founded by Dr. Anthony Smith, Kenevir Research is a full service analytical cannabis laboratory providing compliance testing services in Southern Oregon since 2014.
“This acquisition puts EVIO Labs in reach of 75% of the Oregon cannabis marketplace” said EVIO Labs CEO William Waldrop. “The great work done to date by Dr. Smith and his team at Kenevir positions EVIO to leverage our labs in Eugene and Bend to provide an economy of scale and level of service that we believe cannot be matched in the state of Oregon.”
Following the announced acquisition of Oregon Analytical Services in Eugene, OR in May of this year and the acquisition of Cannalytical Research in Bend, OR in 2015, EVIO Labs has now increased its lab portfolio to three operating analytical cannabis testing facilities in Oregon.
“We are very proud to join with EVIO Labs and definitely look forward increasing our service offerings with our partners in Eugene and Bend,” said Dr. Smith “the potential research opportunities are also on the horizon now that we have access to such a large team dedicated to learning more about the chemical profiles of this amazing plant, cannabis.”
Dr. Smith has been appointed the Chief Science Officer of EVIO Labs and will oversee all of EVIO Labs facilities.
The Oregon acquisition is just the beginning of EVIO Labs plan, the next step is to identify a prospective location in the Portland metropolitan area as we work to be in a position to provide cannabis lab services to 100% of the Oregon cannabis marketplace and the estimated ten million dollars in testing revenues generated annually,” stated Mr. Waldrop “and of course we are continuing to work on our announced expansion into California later this year, first in the heart of the largest cannabis marketplace on earth, the Emerald Triangle, in Northern California and then into the largest concentrated area of cannabis consumption in the world, Southern California, 2016 is shaping up to be a banner year.”
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 and www.eviolabs.com.
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Source:Signal Bay Inc.