NetworkNewsBreaks – EVIO, Inc. (EVIO) Acquires L
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Posted On: 04/30/2018 5:32:29 PM
NetworkNewsBreaks – EVIO, Inc. (EVIO) Acquires Leaf Detective, LLC.
EVIO, Inc. (OTCQB: EVIO), a leading provider of cannabis testing and scientific research for the regulated cannabis industry, this morning announced that it has completed an asset purchase agreement to acquire 100% of Leaf Detective, LLC. The independently owned California-based testing lab, Leaf Detective, focuses in analytical laboratory testing for cannabis manufacturers, medical marijuana dispensaries, producers and consumers. This acquisition further expands the company’s foothold in California to meet the anticipated surge relating to the July 1 testing deadline mandating licensed retailers to sell only lab tested product. Per the terms of the agreement, EVIO will form a new entity, EVIO Labs Humboldt, to purchase 100% of Leaf Detective business assets including equipment, brand, customer lists, customer contracts, rental agreements, and equipment leases for total consideration of US $500,000 in a Convertible Promissory Note that is convertible at $1.25 per share. “Leaf Detective holds one of only 28 licenses issued by the Bureau of Cannabis Control to testing facilities. Upon completion of this acquisition, we will upgrade the facility to meet new testing standards and plan to be operational by end of third quarter,” EVIO CEO William Waldrop stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
EVIO, Inc. (OTCQB: EVIO), a leading provider of cannabis testing and scientific research for the regulated cannabis industry, this morning announced that it has completed an asset purchase agreement to acquire 100% of Leaf Detective, LLC. The independently owned California-based testing lab, Leaf Detective, focuses in analytical laboratory testing for cannabis manufacturers, medical marijuana dispensaries, producers and consumers. This acquisition further expands the company’s foothold in California to meet the anticipated surge relating to the July 1 testing deadline mandating licensed retailers to sell only lab tested product. Per the terms of the agreement, EVIO will form a new entity, EVIO Labs Humboldt, to purchase 100% of Leaf Detective business assets including equipment, brand, customer lists, customer contracts, rental agreements, and equipment leases for total consideration of US $500,000 in a Convertible Promissory Note that is convertible at $1.25 per share. “Leaf Detective holds one of only 28 licenses issued by the Bureau of Cannabis Control to testing facilities. Upon completion of this acquisition, we will upgrade the facility to meet new testing standards and plan to be operational by end of third quarter,” EVIO CEO William Waldrop stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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