Expands Scope of Dealer License to Manufacture, Package, Label and Sell Cannabis Related Products
BEND, Ore., Sept. 10, 2018 /CNW/ -- 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 that it has received an approval from Health Canada on an amendment of its Dealer License that will expand the product and service offering for EVIO Canada's Keystone Labs in Edmonton effective August 24, 2018.
The amendment allows Keystone Labs to support product innovation in the cannabis industry. Keystone Labs can now manufacture, process, package, label, and sell cannabis related products to Licensed Producers and Licensed Distributors. This will allow Keystone Labs to work with Canadian Licensed Producers as a contract manufacturer of approved cannabis products as well as to perform research and development activities to develop novel extraction methods/technologies and product formulations.
In addition, Keystone Labs will be able to send, transport and deliver legal cannabis (raw materials, samples, processed products, finished goods, etc.) throughout Canada. The ability to send and transport is important, as it will allow Keystone Labs to partner with other third-party test labs to outsource testing that we currently offer our clients and vice versa.
"Being able to manufacture and start product development will accelerate our growth by building strategic partnerships and in anticipation of Canadian legalization on October 17th, 2018," said William Waldrop, CEO of EVIO. "This will generate additional revenue for Keystone Labs along with its analytical testing and R&D. There is a limited number of testing facilities licensed to provide manufacturing services. With this new amendment we are confident to capture significant market share and will deliver strong shareholder returns."
EVIO Canada acquired 50% stake in Keystone Labs in May 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. The Company's EVIO Biosciences Division is dedicated to the scientific, medical, and psychosocial exploration of clinical cannabis, cannabinoids, and the endocannabinoid system. 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.
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. 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, our ability to complete our product testing and launch our product commercially, the acceptance of our 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 our reports filed with the Securities and Exchange Commission, available at www.sec.gov or www.eviolabs.com.
CONTACT INFORMATION Cheryl Kramp Director of Marketing 888.544.EVIO [email protected]