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Wednesday, October 17, 2018 8:52:49 AM
Canada makes history today with Canada's Parliament bill C-45, known as the Cannabis Act. Parliament bill C-45 has paved a path for Canada to become the first industrialized country in the world to have legalized recreational marijuana.
The legal pot market is projected to expand at a compound annual growth rate of 19.75% over the next 13 years, making it one of the fastest growing areas of the global economy by a wide margin.
The laboratory expanded its footprint from 3,000 to 6,000 square feet to be able to put in new instruments needed for the required regulated pesticides testing for adult cannabis required by Health Canada.
The laboratory has also purchased state-of-the-art equipment including the GC-MS with CTC for Terpene Residual Solvent Testing and ICP-MS for Heavy Metal Testing. These machines will be instrumental to the requirements required for adult cannabis compliance testing.
“The substantial upgrades will increase testing volumes, resulting in enhanced operating productivity and revenue growth. With investments in the most advanced lab equipment and the best, most qualified personnel, we are confident this will improve the efficiency and speed of our cannabis testing operations within these jurisdictions for our valued customers and improve our financial performance for our valued shareholders,” EVIO’s CEO William Waldrop stated.
EVIO Canada acquired a 50% stake of Keystone Labs in May 2018.
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