EVIO, Inc. (EVIO) is Exceeding Expectations

  • Investor interest nearly doubles size of placement
  • Company’s 2017 revenues soared 438 percent year-over-year
  • On pace to double number of testing facilities this year

The regulatory uncertainties surrounding cannabis will have little impact on the long-term growth of the industry. There’s overwhelming scientific evidence validating the medical efficacy of certain cannabinoids and, like all medications, cannabinoids require quality control assurances for potency and purity.  Also, much like prohibition, it’s realistic to expect parochial federal regulators to ultimately succumb to the will of the majority and relax any uncertainties around recreational cannabis use. Again, the end product must be tested and screened for potency and any potentially harmful byproducts.

EVIO, Inc. (OTCQB: EVIO) is the established national leader in such testing and verification, providing accredited cannabis testing, as well as high-quality analytical and consulting services for agricultural and biomedical industries in the United States. Operating coast-to-coast, the company’s EVIO Labs division provides state-mandated ancillary services to ensure both safety and quality of the nation’s cannabis supply. The company provides state-of the-art analytical testing and advisory services, and it performs extensive product research in its accredited laboratory testing facilities.

In a recent vote of confidence for EVIO, as well as in the long-term viability and opportunities in the cannabis industry, EVIO just closed a $5,973,000 private placement. The initial target of $3 million was nearly doubled due to investor interest in EVIO’s uniquely scalable business model and scientific expertise in the cannabis testing space (http://cnw.fm/GaCw2).

Market savants fully understand that fresh capital seldom flows to dead-end deals, and doubling the raise is a significant signal of potential success. The best-efforts offering was completed on January 30 through lead agent and bookrunner Dominick Capital Corporation of Toronto, Canada.

As further evidence of EVIO’s growth curve, the company reported a 438 percent revenue increase on a year-over-year basis in its fiscal year ended September 30, 2017 (http://cnw.fm/ZtN6O). The vast majority of this growth came from increased testing revenue, which was up 782 percent, while consulting services increased by 27 percent.

EVIO has grown from one laboratory in Oregon to nine fully operational laboratories in California, Colorado, Florida, Massachusetts and Oregon, and it intends to open 18 laboratory facilities at other locations around the United States by the end of 2018.

For more information, visit the company’s website at www.EVIOLabs.com

More from CannabisNewsWire

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s