EVIO (OTCQB: EVIO) this morning announced that it has signed a non-binding Letter of Intent (“LOI”) to acquire 60% of C3 Labs, LLC. C3 Labs is located in Berkeley, CA, which accelerates the company’s intent to expand into Northern California prior to the anticipated increase in demand for analytical testing services. Subject to customary closing conditions, the transaction is expected to close in the first quarter of 2018. “C3 Labs been serving the cannabis industry for years, providing product formulation, research and development services that aligns with EVIO’s longer term strategy to expand our scope of services. We are working to close this transaction in an expeditious manner to begin serving the California market by first quarter 2018,” EVIO CEO William Waldrop stated in the news release.
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About EVIO, Inc.
EVIO, Inc. is an Oregon-based life sciences company that provides analytical testing services, management advisory services and scientific research to the legal cannabis and hemp industries. The company’s EVIO Labs division operates state-of-the-art facilities and offers accredited testing methodologies to ensure the safety and quality of the nation’s cannabis supply. For more information, visit the company’s website at www.EvioLabs.com.
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