BEND, OR , Sept. 06, 2017 (GLOBE NEWSWIRE) -- EVIO, Inc. (OTCQB:SGBYD), a life science company and leading provider of quality control testing and advisory services to the regulated cannabis industry, announced that its name changed from Signal Bay, Inc. to EVIO, Inc. effective at 12:01 am September 6, 2017 (the “Effective Time”).
The Company also effected the previously announced 1:100 reverse split (the "Reverse Stock Split") of the Company's common stock, par value $0.0001 per share. Effective as of the Effective Time, every one-hundred (100) shares of the Company's issued and outstanding common stock or held by the Company in treasury was converted into one (1) share of common stock, without any change in the par value per share. In addition, the number of authorized shares of the Company's common stock was decreased from 3,000,000,000 to 1,000,000,000.
The Company's common stock commenced trading on a Reverse Stock Split-adjusted basis on the OTCQB Venture Markets (the "OTCQB") at the opening of trading on September 6, 2017. In connection with the Reverse Stock Split and the name change, the Company's common stock is now traded under a new OTCQB symbol, "SGBYD" with a new CUSIP number of 30051V106. The ticker symbol “SGBYD“ is an interim symbol, and is scheduled to be changed to “EVIO” on October 3, 2017, pending FINRA approval.
“We are excited about the future direction for the Company, under the new name of EVIO Inc. We aligned the corporate name with our EVIO Labs division which accounts for a majority of our revenue and lays a foundation for becoming a leading cannabis biotechnology company.” commented William Waldrop, EVIO CEO. “Furthermore, with the effectiveness of the reverse stock split, we structured the company to be best positioned for institutional investors to provide the necessary funding to complete our vision. These are exciting times to be part of the fastest growing industry in the world, and EVIO is now prepared to take full advantage of this opportunity.”
About EVIO, Inc.
EVIO, Inc. is a life science company that provides accredited analytical testing services and scientific research to the regulated cannabis industry. The Company’s EVIO Labs division provides state-mandated ancillary services that don’t directly support the supply chain, but are in place to ensure the safety and quality of the nation's cannabis supply. Learn more at www.eviolabs.com. The company can be reached directly @ 1-888-544-EVIO.
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. 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. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. 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
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