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Should obviously been “purchase”. How do you become a mod?
For sure. This is the real deal. Just need to be patient enough for laws to change mandating testing and more states coming on board with both medicinal and rec. Business takes time to build and grow. The vision is there, the strategy is being implemented, and the pieces are coming together. Personally I’m good with speed on law changes it gives us the time to build cash flow, experience, and personally in timely fashion. When states catch up with how important mandating testing is and implement a standardization we will be positioned to capitalize with less (hopefully no) dilution. All in due time.
EVIO, Inc. Launches EVIO Canada, Signs Binding Agreement to Acquire Cannabis Testing Facility, Keystone Labs Inc.
Published 10:00 AM ET Thu, 19 April 2018
Globe Newswire
BEND, Ore., April 19, 2018 (GLOBE NEWSWIRE) -- via NetworkWire – EVIO, Inc. (“EVIO” or the “Company”) (OTCQB:EVIO), a leading provider of cannabis testing and scientific research for the regulated cannabis industry, is pleased to announce the establishment of a new and wholly-owned subsidiary, EVIO Canada, which will serve as the parent company for the Company’s Canadian operations. Concurrently, EVIO Canada announced today that it has entered into a binding agreement to acquire 50% of Keystone Labs Inc. (“Keystone Labs”), a privately-held, independent contract-testing laboratory specializing in quality testing for regulated industries located in Edmonton, Alberta.
Founded in 2005 by Jodi McDonald, President of Keystone Labs, the company provides a full array of high quality analytical and microbiological analyses to pharmaceutical, biotechnological, medical device and natural health product industries according to Good Manufacturing Practices (“GMP”).
“We are thrilled to partner with EVIO Labs. This is an incredible opportunity for Keystone Labs to expand our quality testing services into the cannabis market by supporting the production of safe cannabis for Canadians,” said McDonald. “With the leadership and expertise of EVIO’s highly successful management team working with our experienced team, we are confident in our ability to seize the growing opportunities in regulated cannabis testing and innovation and become a market leader in Canada.”
Beginning in 2018, it is expected that adult recreational cannabis will be available to Canada’s population of approximately 36.3 million. With the Canadian cannabis industry projected to reach C$8.7 billion, according to a Deloitte report titled Recreational Marijuana: Insights and Opportunities, in size over the coming years, this strategic acquisition will expand EVIO’s footprint into the market as well as provide the Company with diversification into other testing fields.
“As the country prepares for adult recreational sales in the coming months, the need for credible and comprehensive cannabis testing is greater than ever. Keystone Labs is one of 37 laboratories licensed by Health Canada and one of only three laboratories that hold both a Dealer’s License and a GMP Drug Establishment License for cannabis testing,” said William Waldrop, CEO and co-founder of EVIO. “This acquisition is a significant milestone for EVIO as it will mark our first foray into an international market. Our goal is to increase consumer safety and confidence, while further pursuing our aggressive expansion plans for 2018.”
Transaction Details:
In consideration for the 50% acquisition of Keystone Labs, EVIO Canada, Inc. will pay a cash purchase price of an aggregate of CDN$2,495,000. This purchase price will be split as to CDN$2,035,000 to the shareholders of Keystone Labs to purchase 45% of the issued and outstanding shares of the company and as to CDN$460,000 to Keystone Labs to purchase shares of Keystone Labs equal to an additional 5% of the issued and outstanding shares directly from treasury. EVIO will provide a line of credit to Keystone Labs up to a maximum principal amount of CDN$1,000,000 to support operations. In connection with and immediately following the completion of the foregoing transactions, the shareholders of Keystone Labs shall subscribe for an aggregate of 1,291,391 of common shares in the capital of EVIO for an aggregate purchase price of CDN$1.95M on a private placement basis. The proposed transaction is subject to customary closing conditions, including both parties completing due diligence and obtaining any approvals from applicable local authorities. Contingent upon completion of final agreements and documents, the transaction is expected to close on or about May 1, 2018.
About EVIO, Inc.
EVIO, Inc. is a leading provider of cannabis testing and scientific research for the regulated cannabis industry. The Company’s EVIO Labs division operates coast-to-coast providing state-mandated ancillary services to ensure the safety and quality of the nation's cannabis supply. EVIO is on track to have 18 of its state-of-the-art testing facilities by year-end 2018.
For more information, visit www.eviolabs.com.
About Keystone Labs
Keystone Labs Inc., located in Edmonton, Alberta, is a privately held Heath Canada accredited testing facility with a GMP establishment license. Keystone offers a full array of analytical and microbiological testing services for pharmaceutical, biotechnology, medical device, nutraceutical, medical cannabis and related industries.
For more information, visit https://keystonelabs.ca/.
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 and include, but are not limited to, the anticipated legalization of recreational cannabis in Canada, the anticipated size of the Canadian adult recreational cannabis market, the completion of the proposed acquisition of Keystone Labs and the anticipated timing thereof, Keystone Labs’ ability to develop into a Canadian market leader, the subscription for EVIO shares by the Keystone Labs shareholders, the receipt of necessary approvals in connection with the transactions described herein, and EVIO’s expansion of testing facilities in calendar 2018. 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, EVIO’s ability to complete our product testing and launch our product commercially, the acceptance of EVIO’s 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 EVIO’s reports filed with the Securities and Exchange Commission, available at www.sec.gov or www.eviolabs.com.
CONTACT INFORMATION
Company Contact:
Cheryl Kramp
Director of Marketing
EVIO, Inc.
Bend, OR
www.EVIOlabs.com
888-544-EVIO
info@EVIOlabs.com
Media Contact:
Carrie Booze
North 6th Agency
212-334-9753 ext.142
evio@n6a.com
Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Source:EVIO, Inc.
EVIO DD LINKS PACKAGE 5/3/18
Singular Research Report
https://backend.otcmarkets.com/otcapi/company/research/191576/content
Acquisitions
California: https://www.accesswire.com/498098/EVIO-Makes-Second-Acquisition-in-Two-Weeks-Cements-Position-in-Lucrative-California-Cannabis-Market
https://www.greenmarketreport.com/evio-acquires-c3-labs-ma-continues-strong-run-california/
Canada: https://www.cnbc.com/2018/04/19/globe-newswire-evio-inc-launches-evio-canada-signs-binding-agreement-to-acquire-cannabis-testing-facility-keystone-labs-inc.html
Hires
Pfizer: https://globenewswire.com/news-release/2018/01/03/1281558/0/en/EVIO-Inc-Announces-the-Appointment-of-New-President-Albert-Lustig.html
Quest: https://globenewswire.com/news-release/2018/01/29/1313554/0/en/EVIO-Inc-Announces-the-Appointment-of-Ron-Russak-as-Vice-President-of-Operations.html
CFO: https://globenewswire.com/news-release/2018/04/17/1480105/0/en/EVIO-Inc-Announces-Appointment-of-David-Kane-as-Chief-Financial-Officer.html
Projections
https://www.networknewswire.com/evio-inc-evio-revenues-projected-to-reach-10-million-in-fy2019-following-debut-of-evio-canada-subsidiary/
?Accreditations
Colorado: https://globenewswire.com/news-release/2017/12/26/1274601/0/en/EVIO-Labs-Colorado-Licensee-Announces-ISO-17025-Accreditation.html
Florida: https://globenewswire.com/news-release/2018/02/07/1335473/0/en/EVIO-Labs-Florida-Licensee-Announces-ISO-17025-Accreditation.html
Interviews:
CEO, William Waldrop
https://upticknewswire.com/featured-interview-ceo-william-waldrop-of-evio-inc-otcqb-evio/
Berkeley Lab Interview
https://www.bizjournals.com/sanfrancisco/news/2018/04/20/cannabis-testing-company-solve-testing-backlog.html
COO, Lori Glauser at Cannabis Learn regarding lab testing:
In a sense you are correct but it has to do with the industry and direct competition and strategy. So delete it if you see it as something you wouldn’t want to know as an EVIO investor. I personal don’t feel everything has to be directly about EVIO for it it involve or affect EVIO. As an EVIO share holder this is something I want to know and follow. I didn’t post it for my benefit. I did it for the board. Like I said if you don’t like it delete it or ignore it.
Lol thanks for the advisory. I always appreciate your posts based on charts.
I think the Canada acquisition should be a sticky as well.
After attending seminars I also believe NJ is need of labs as they are working on having rec ready for applications by June/July and look to implement mandated testing which was discussed in “NJ Market Update” seminar.
Today’s seminar “Lab Testing Quality Control and Standards” with Lori Glauser, EVIO COO on panel.
I don’t have PM but let me know if you received and can open file. If not I will have to play with and resend Friday.
I don’t have PM but let me know if you received and can open file. If not I will have to play with it and resend Friday.
Those that sent me emails pertaining to seminar I will send Friday. I have to adjust file size to send and will need to get back home to do.
I just left the seminar that Lori was on the panel for. I can email the session for anyone who is interested message me your email addresses.
If two months about 40 trading days at 25,000 a day is a million
I think you forget the link but I got it off your other post
https://upticknewswire.com/featured-interview-ceo-william-waldrop-of-evio-inc-otcqb-evio/
Thanks. I’m highway driving and just skimmed. Will read more in depth later.
For $500,000. And we still have the cash. Seems like 5 more labs by end of year is reasonable.
It was before
Research firm Singular Research projects growth for EVIO, analyzing company’s aggressive expansion and noting performance of legal cannabis industry as tailwind
Newly launched Canadian subsidiary EVIO Canada signs binding agreement to acquire 50 percent of Edmonton, Alberta-based Keystone Labs, Inc.
EVIO Labs provides testing and scientific research for the regulated cannabis industry
EVIO, Inc. (OTCQB: EVIO) has launched a new wholly owned Canadian subsidiary, EVIO Canada, which concurrently signed a binding agreement to acquire 50 percent of Keystone Labs, Inc., a licensed testing facility for medical cannabis based in Edmonton, Alberta (http://cnw.fm/8ansW). Both the EVIO Labs division and Keystone Labs offer quality testing for the regulated cannabis industry.
EVIO’s aggressive expansion into new markets, and the growth of the cannabis industry, was cited by Singular Research as it projected EVIO, Inc. to reach $10 million in revenues by…
Read more »
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I will be attending all 3 days of seminars. Lori (Evio COO) speaks for 50min on Tuesday. I will try to record it discreetly.
Is there a way to go back and count all the t trades for past few weeks/months?
I am considering going to the “Cannabis Learn” event beginning of next week in Philadelphia, where Evio COO Lori Glauser will present for “Lab Testing Quality Control and Standards”. This is a 3 day event. I attended “CannaGrow Expo” in Denver last October and I expect this to be similar. Very educational.
There was a t-trade of 22,500. I think dilution is about done. We should have 1 and possible 2 acquisitions soon based on the remaining financing from debentures. I’d like to see both in Cali and some news on the Costa Mesa build out? The volume was awesome to see and if we maintain these volumes we should see a small price increase as I believe liquidity is holding back many smart investors wanting to play with decent money. It takes too many fills spread out prices, multiple transactions/fees, and time (possibly days) for a buy or sell. Also when fins come out that cash will look good on balance sheet.
I know you’ve told me before but what formula do you use? I want to plug and play.
Nevermind
No t trade? Dilution on this note done?
Does anyone know current Canadian testing laws and what they are going to change to when legalized? Links are appreciated. Also who Aurora uses?
Does anyone know current Canadian testing laws and what they are going to change to when legalized? Links are appreciated.
So we have $3 million left from private placement? So we have one more acquisition coming with that funding, maybe two because $1 extra went as a line of credit. Cali or Canada? And that would put us at 11 now and possibly 13 (and 14 if that hemp one ever became anything). We still need funding for about 5 more labs to hit goal (maybe 4 more if we are cash flow positive and are able to purchase 1 by end of year.)
I’m just wondering how we are still on track for 18 by end of year with basically no acquisitions this year..
Had an old bid I forgot about for 500 filled at $1.05 today. Still here and just letting it ride for now. Rome wasn’t built in a day. Definitely holding WW accountable for the news within the 60 days that’s coming up though. We need Cali acquisitions or our build out as these are the immediate revenue generators.
I went to Medicine Man lab tours while in Denver. It was grow room and dispensary tour. The dispensary was attached to the same building in the front but had separate entrances. The grow facility was only the “training site” but had multiple rooms of plants in different stages with compete environmental control, co2, etc. Not sure what that bud was used for. Tour lasted about an hour. One of the owners was there and gave a talk and actually guided they tour. He said he only leads the tours once in a blue moon. He then advertised that the publicly traded company was a separate company from their cultivation and dispensary business but were part of the same affliction. These dispensaries and cultivation sites revenue are not reflected in this stock. I decided to invest in medicine man tech right after the tour based on how clean and well ran the operation was as well as how knowledgeable and well spoken he was. I forget his name but I could prolly google it. I did sell the stock right after that previous spike and am looking to re enter shortly but want to follow up on this companies technologies, products, and services for any growth since I went in October 17.
I feel as though it was a screaming buy at anything under a dollar but we still remained in those levels for awhile. I guess you can blame it on not having a share reduction during the split. And still wondering when and what the final share count is going to be voted?
Excellent method. The last comparison to PR puts it all into perspective and ties it together. Sounds like we will be pleasantly surprised. Appreciate your strategy and math.
Every person I know with an opioid problem started with pills. Most the pills were bought from black market.
Awesome will look into. Thanks.