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Digipath, Inc. Signs Agreement to Sell the Assets of Its Lab Subsidiary
Digipath, Inc. Signs Agreement to Sell the Assets of Its Lab Subsidiary.
About this update from Hypha Labs, Inc.
[{"type":"text","content":"\n Arizona’s Delta Verde Signs Deal ‘Pending CCB Approval’ With Digipath, Inc.to Purchase Digipath Labs’ Assets and Remain Operating in Las Vegas Under the Digipath Labs Brand LAS VEGAS, NV, May 05, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Digipath, Inc. (OTCQB: DIGP) (“Digipath” or the “Company”), a service-oriented independent analytical testing laboratory and data analytics firm, is pleased to announce that it has signed an agreement with DPL Nevada, LLC to sell the assets of Digipath Labs, Inc., its testing subsidiary. DPL’s owners currently own Delta Verde Labs of Arizona. Both independent cannabis and hemp testing laboratories are highly dedicated to best-in-class compliance testing and white glove customer service. Over the past eighteen months, the leadership teams of both labs have been evaluating one another’s technical capabilities and verifying the testing methodologies the other uses. “Digipath Labs has operated with the same professional standards and dedication to truth in testing that we have at Delta Verde Labs, which makes this relationship a natural fit and combines over two decades of technical knowledge and cannabis matrix expertise,” said Nate Allen, owner of Delta Verde Labs. “Nothing at Digipath Labs will change for our customers including my role and the role of our scientific staff once the sale is complete,” said Todd Denkin, President of Digipath Labs. “More good news is that our lab operation will now have a larger brain-trust of scientists to share ideas and information with, which will benefit customers in both Nevada and Arizona.” The sale is subject to approval from the Nevada Cannabis Control Board (CCB) and other customary conditions. Once the CCB approves the transaction and the sale is completed, Digipath, Inc., the public holding company, will change its name and will actively seek to acquire a new business while Digipath Labs will continue to operate as usual. About Digipath, Inc. (OTCQB: DIGP) Digipath, Inc., the publicly traded holding company, supports the cannabis industry’s best practices for reliable testing, data acquisition, formulations, and new canna-tech to the cannabis industry. Digipath Labs provides pharmaceutical-grade analysis and testing to the cannabis industry to...