Hemp & CBD demand drive market recovery.
HENDERSON, Nev.–(BUSINESS WIRE)–EVIO Inc. (the “Company” or “EVIO”) (OTCQB:EVIO) is pleased to announce that EVIO Labs Portland and EVIO Labs Medford recently expanded their lab capabilities and services to further meet the needs of the State of Oregon’s evolving, yet expanding, Cannabis and Hemp markets. EVIO Labs Portland has been granted accreditation to perform pesticide testing, and now joins EVIO Labs Medford, which received its accreditation to perform residual solvents testing earlier in the fall, as a fully accredited lab. Although both locations have been able to provide full testing services to clients, the labs have been codependent of one another to accomplish this. Furthermore as of October 31, 2019, the Oregon Liquor Control Commission has also renewed both the EVIO Labs Portland and EVIO Labs Medford annual testing licenses. These license renewals and new accreditations enable the company to perform full-service compliance testing of Oregon’s Cannabis regardless of location.
“The regulatory authorities in Oregon remain confident in EVIO’s ability and commitment to ensure the safety and quality of consumable cannabis,” stated CEO William Waldrop. “These renewals and certifications bolster this fact, but they also re-enforce the Company’s recent commitments to maximizing efficiency through process optimization and revenue retention.” Having both labs fully accredited provides the company with additional equipment redundancy, significantly reduces turnaround time for all clients, and eliminates some of the unnecessary operating costs associated with the logistics and transportation of cannabis samples.
“The accreditations came just in time,” added Lori Glauser, COO. “The first seasonal outdoor hemp harvests, since the passing of the 2018 Farm Bill, overlap with traditional cannabis harvests, which is resulting in an increased demand for both cannabis flower and pre-harvest hemp field testing.” The company expects testing demand for all types of cannabis, but hemp specifically, to continue to grow as the plant matter cultivated will be processed further into oils, tinctures, and edible products. The State of Oregon requires the testing of all hemp-derived products to be as rigorous as other forms of cannabis. The company has already begun to work with several national brands as they complete their formulations to ensure the quality and safety standards from this first generation of legal crops are met.
The cannabis market in Oregon is re-energizing around hemp and CBD. As cultivators, producers and operators convert, enter, and expand into the space EVIO Labs stands ready to service all their analytical testing needs.
About EVIO Inc.
EVIO Labs is the leading provider of cannabis, hemp and CBD testing. EVIO Labs services clients in the United States and Canada at its licensed and accredited cannabis, CBD and hemp full-service testing laboratory operations, and provides clients with quality analytical, R&D, and consulting services to product the best, compliant products. EVIO provides assurance to consumers that the potency on the label is what is in the package – and the product is free of harmful contaminants.
For more information, visit www.eviolabs.com.
Safe Harbor Statement
Any statements in this press release that are not statements of historical fact maybe considered to be forward-looking statements. Statements may contain certain forward-looking statements pertaining to future 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 substantial risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, our ability to complete our product testing and launch our product commercially, the acceptance of our product in the marketplace, the uncertainty of the laws and regulations relating to cannabis, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed from time to time in our reports filed with the Securities and Exchange Commission, available at www.sec.gov or www.eviolabs.com.
For Further Information: Investor Relations Thesis Capital Prit Singh [email protected]
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