Business
Signal Bay, Inc. Provides Review of 2016 and Corporate Update
Signal Bay, Inc. Provides Review of 2016 and Corporate Update.
About this update from Evio, Inc.
[{"type":"text","content":"\n\n Bend, OR , Feb. 28, 2017 (GLOBE NEWSWIRE) -- Signal Bay Inc. (OTCQB:SGBY) the market leader in cannabis testing, laboratory, operations, and research services is pleased to provide our shareholders a corporate update. \n 2016 was a seminal year for Signal Bay, demonstrating our commitment to being the clear leader in delivering product safety and certainty to the legal cannabis industry. We completed the acquisition of four operating cannabis testing labs, three in Oregon and one in California that expanded our operational footprint into the largest cannabis marketplace in the world. The Oregon acquisitions solidified the company’s position as the defining leader of analytical testing services in Oregon as new OLCC rules requiring the comprehensive testing of all cannabis products sold in the state rolled out on October 1st. At the same time the implementation of our Spoke & Hub model of maximizing internal efficiencies allowed us to provide our clients the most accurate tests in a timely fashion. Our consulting division continued to expand in 2016 as we assisted several new consulting clients with licensure and startup of new marijuana establishments. In April, the Company rebranded its Lab Testing division as EVIO Labs to differentiate its Consulting and Research divisions from the Analytical Lab division.  In May 2016, the Company completed the acquisition of Oregon Analytical Services, an operating cannabis testing laboratory located in Eugene, Oregon. In June, the Company completed the acquisition of a majority ownership of Kenevir Research Inc. an operating analytical and research laboratory located in Medford Oregon positioned in the heart of Oregon’s thriving outdoor cultivation region. In October, the Company completed the acquisition of GreenHaus Analytical Labs, an operating analytical laboratory located in Portland, Oregon. At the end of 2016 the company was in the enviable position of operating 4 analytical testing labs strategically positioned throughout Oregon to provide timely lab services to over 1000 clients operating throughout the state.   In November, the Company completed its flurry of 2016 acquisitions with the purchase of Green Style Analytics Lab in Yuba City, California. Located 30 miles north of Sacramento and operating a mobile lab delivery program for the prev...