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EVIO Inc. Executes Letter of Intent to sell C3 Labs, LLC to Digipath, Inc.
EVIO Inc. Executes Letter of Intent to sell C3 Labs, LLC to Digipath, Inc..
About this update from Hypha Labs, Inc.
[{"type":"text","content":"\n\n\n\nEVIO Inc. Executes Letter of Intent to sell C3 Labs, LLC to Digipath, Inc.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nEVIO Inc. Executes Letter of Intent to sell C3 Labs, LLC to Digipath, Inc.\nPR Newswire\nHENDERSON, Nev., Dec. 7, 2021\n\n\n\nHENDERSON, Nev., Dec. 7, 2021 /PRNewswire/ -- EVIO, Inc. announced today that it intends to sell its ownership in C3 Labs, LLC dba Steep Hill CA to Digipath, Inc. (OTCQB:DIGP) in exchange for assumption of debt and stock in Digipath.\n\n \n \n \n \n \n \n\n \nThis sale marks the company's next step towards EVIO's restructuring plans which began in January 2021.  The sale of C3 Labs means that the company will be able to divest over $2 million in debt and future lease obligations and gain a yet to be disclosed equity stake in Digipath. \nInterim CEO Lori Glauser says \"This sale gives C3 Labs the investment it needs to achieve profitability without EVIO taking on more debt. It also gives EVIO an investment stake in the growing lab company while substantially reducing operating costs.\" \nEVIO continues to operate its labs in Canada and Oregon. Furthermore, the company is planning a roll-out its blockchain technology offerings during first quarter 2022.  \nAbout EVIOEVIO, Inc. is a provider of ancillary services including consulting, R&D and analytical testing for cannabis, hemp, and pharmaceutical companies. \nFor more information, visit www.eviolabs.com and www.digipath.com\nSafe Harbor StatementAny statements in this press release that are not statements of historical fact may be considered forward-looking statements pertaining to 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 substan...