Bend, OR, June 26, 2017 (GLOBE 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.
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Source:Signal Bay Inc.