- Demand for accredited cannabis testing in California is at an all-time high
- Company enters long-term lease in the heart of Los Angeles
- Strategically positioned to capitalize on the largest market place in the United States
State mandated testing for California’s cannabis industry will allow only lab-tested cannabis products to be sold by licensed retailers beginning on July 1. There is a high probability that there won’t be enough labs in California to keep up with the testing requirements. This is positive news for existing labs, as demand will be high and possibly max out their capacity, creating a surge in the need for additional testing facilities.
EVIO Inc. (OTCQB: EVIO), a leading national provider of accredited cannabis testing and scientific research for the regulated cannabis industry, seeks to capitalize on this opportunity. EVIO Labs began with one lab in Oregon and now provides clients with superior customer service, reliable results and world-class expertise in California, Colorado, Florida, Massachusetts and Canada. The company recently announced further expansion of its testing services to the Southern California cannabis market, and it has entered a long-term lease for a 2,700 square foot facility in the heart of Los Angeles in the Mission Junction District. The company has plans to have 18 laboratory facilities in locations across North America by the end of 2018.
As California rolls out the July 1 state mandated testing deadline, the need for EVIO’s services is expected to increase significantly. “We are focused on positioning EVIO to capitalize on this tremendous growth by pursuing aggressive expansion,” EVIO CEO William Waldrop stated in a news release.
New Frontier Data projects the value of the California legal cannabis market at $1.9 billion in 2018 and forecasts an increase to $4.7 billion by 2025. EVIO’s expansion into Los Angeles strategically positions the company to capitalize on the largest cannabis market place in the United States.
For more information, visit the company’s website at www.EVIOLabs.com
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