NetworkNewsBreaks – EVIO, Inc. (EVIO) Subsidiary Acquires Stake in Canadian Cannabis Testing Lab

April 23, 2018 09:10:24

EVIO, Inc. (OTCQB: EVIO), a leading provider of cannabis testing and scientific research for the regulated cannabis industry, this morning announced that its newly launched EVIO Canada subsidiary attained its first portfolio addition through the signing of an agreement to acquire 50% of Keystone Labs. Keystone Labs is a privately-owned, Heath Canada-accredited testing facility with a Good Manufacturing Practice (GMP) establishment license based in Edmonton, Alberta. EVIO Canada is paying a total price of approximately C$2,495,000, through a payment of C$2,035,000 to Keystone Labs shareholders for 45% of the issued and outstanding shares plus the purchase of shares bought directly from the treasury for C$460,000. EVIO is also extending Keystone Labs a $1 million line of credit to support operations. The transaction is expected to close by May 1, 2018, subject to all customary approvals. “This acquisition is a significant milestone for EVIO as it will mark our first foray into an international market. Our goal is to increase consumer safety and confidence, while further pursuing our aggressive expansion plans for 2018,” EVIO CEO and co-founder William Waldrop stated in the news release.

To view the full press release, visit http://nnw.fm/dl7UG

About EVIO, Inc.

EVIO, Inc. is a life sciences company focused on analyzing cannabis as a means for improving quality of life. The Company provides analytical testing services, advisory services and performs product research in its accredited laboratory testing facilities. The Company’s EVIO Labs division operating coast-to-coast provides state-mandated ancillary services to ensure the safety and quality of the nation’s cannabis supply. For more information, visit www.EvioLabs.com

More from NetworkNewsBreaks

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

For more information, please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]