EVIO Inc (EVIO)

[PennyBarman]

Gexin has entered into an Intellectual Property License Agreement which provides them the exclusive right to operate under the EVIO Labs brand in the Los Angeles and Orange counties markets. Under the terms of the agreement, the initial license fee payable to EVIO is $500,000 and commencing in year 2, a 5% gross royalty of all testing revenues. Gexin sees this laboratory buildout as a “proof of concept” that will pave the way for additional targeted investments in the future.