Business
EVIO Inc. Update--Letter to Shareholders
EVIO Inc. Update--Letter to Shareholders.
About this update from Evio, Inc.
[{"type":"text","content":"\n\n BEND, Ore., Feb. 27, 2018 (GLOBE NEWSWIRE) -- via NetworkWire – EVIO (OTCQB:EVIO), a life science company and leading provider of quality control testing and advisory services to the regulated cannabis industry is pleased to provide a corporate update to shareholders. \n Dear Shareholders,  It is an exciting time to be involved in the cannabis industry, which is expected to double in size again by 2021 as more states look to legalize both medical and recreational cannabis use. Despite the risks inherent in any evolving marketplace, and despite the political uncertainty with respect to marijuana’s legal status on the federal level, we have now entered into the second year of this administration, and all signs continue to point to a very bright future for one of the fastest growing industries in the nation. Moreover, cannabis testing continues to represent one of the most critical components of this industry as we move forward, however slowly, to inevitable cannabis legalization across North America. As a stable, reliable, and ever-growing market subset, mandatory testing has become the standard in the various cannabis-friendly states.  Since our last shareholder update, we at EVIO have made significant progress in our mission to become synonymous with safe, high-quality cannabis for legal consumption. We continue to meet major milestones on our path to increasing revenues and improving shareholder returns. Improvement and Expansion of EVIO Laboratories: We are pleased to report that we now offer our state-of-the-art cannabis testing services nationwide, with eight operating labs in five states. The foundation of our coast-to-coast operation continues to be Oregon, the location of our prototype laboratories. EVIO services nearly thirty percent of the cannabis testing market in Oregon and continues to have some of the most stringent accreditation criteria in the nation. Recent developments include the continued expansion of our testing capabilities, such as adding of delta-8 THC to our analyte list for cannabinoid profiling.   In addition to improving our advanced testing laboratories, improving state and national cannabis testing quality standards and servicing our growing client base with increased efficacy and efficiency, we’ve also recently invested $800,000 in new equipment upgra...