Source: Signal Bay Inc.
Bend, OR, Sept. 19, 2017 (GLOBE NEWSWIRE) -- EVIO, Inc. (OTCQB: SGBYD) (“EVIO” or the “Company”) the nation’s 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 Company’s 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 Company’s 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 EVIO’s 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.
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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 in place to ensure the safety and quality of the nation's cannabis supply. Learn more at www.eviolabs.com.
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
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