Sizzling Stock Picks

[fiveteenthirty]

$SGBY to acquire cannabis testing lab in Portland
http://seekingalpha.com/news/3206010-signal-bay-acquire-cannabis-testing-lab-portland

Signal Bay, Inc. (OTCPK:SGBY) a provider of cannabis consulting, operations, and laboratory services, announces its intention to purchase a fifth cannabis testing laboratory located in Portland, Oregon.

This comes just days after announcing a fourth laboratory purchase in Northern California.

SGBY CEO WILLIAM WALDROP

We stated in an earlier press release that we had hired Ronnie Schmidt, a former General Manager for multiple Portland area dispensaries as a Sales & Marketing Director.

We had planned to process any and all accounts established by Ronnie through our existing facilities until such time that we could open the doors on an entirely new location in Portland.

As of today, that plan has changed significantly for the better.

Today we ramped up our plans for growth by signing a letter of intent to purchase an already existing testing facility in Portland.

With this one strategic move, the 90-120 day window we had in place for opening a facility in this market has virtually been eliminated.

This acquisition also adds hundreds of already existing accounts to the Signal Bay portfolio.

Add Ronnie Schmidt to the mix and all of this combined has us convinced that we are going to capture significant market share in Portland and the surrounding communities.”"

This particular business is already working with ORELAP towards state accreditation so that was a positive sign for us, but there are four other key factors we take into consideration when deciding whether to acquire an existing lab.

One How well the existing management team will blend in with our existing team and begin contributing to the organization. We feel confident and frankly very excited about having this particular group join us and we feel that this one will also be a seamless transition.

Two Is the level of experience, ethics and integrity as viewed by their existing clients, of which they received multiple positive reviews.

Three Is opportunity for revenue growth and cost savings, both of which can be realized through this acquisition.

Four Is the passion of the employees and culture of the organization."

http://seekingalpha.com/news/3206010-signal-bay-acquire-cannabis-testing-lab-portland