EVIO, Inc. (EVIO) Continues to Improve, Expanding EVIO Cannabis Testing Lab Services, Locations

Accredited testing of cannabis products is becoming a crucial health care initiative
Cannabis testing regulations vary state-by-state where cannabis is legal
EVIO testing labs provide quality control testing, advisory services to regulated cannabis industry
Testing services offered nationwide, with eight labs in five states and expansion opportunities in another four states and Canada

EVIO, Inc. (OTCQB: EVIO), a health sciences company focused on analyzing cannabis, continues to move the bar higher and set the standard when it comes to testing cannabis in each of its laboratory settings in states where the highly regulated plant is now legal. Headquartered in Oregon, EVIO Labs specializes in testing cannabis and industrial hemp flower, extracts and infused products. Its laboratories offer a crucial selection of analytical tests that meet international standards and state-regulated testing guidelines. EVIO Labs recently expanded its testing capabilities with the addition of delta-8 THC to its analyte list for cannabinoid profiling.

Recent recalls of certain cannabis products (http://cnw.fm/Fl4dC), prompted by the discovery of mold and other identifiable contaminants in the recalled items, show the dire need for quality laboratory testing services. While links between illness and tainted cannabis are not well documented, anecdotal accounts include worrisome stories about cannabis infected with mites, mold or yeast, or grown with potentially cancer-causing pesticides (http://cnw.fm/ZSvh6).

EVIO’s dedication to attaining the highest of accreditation standards is a key element of the company’s success and one that should matter most to cannabis consumers, who are often seeking relief from specific ailments. In fact, EVIO Labs Florida recently achieved ISO 17025 accreditation, becoming the first accredited cannabis testing lab in the state (http://cnw.fm/zII4S). This achievement, which marks the highest recognized quality standard in the world for calibration and testing laboratories, means that EVIO Labs Florida consistently produces precise and accurate tests that are implemented under a rigorous quality management system (http://cnw.fm/vWg6t).

Notably, EVIO Labs Colorado has also completed its ISO accreditation, representing an important step in expanding the company’s footprint in the lucrative Colorado cannabis market. The company’s laboratories in Southborough, Massachusetts, and Berkeley, California, are expected to attain ISO accreditation by the end of Q2 2018.

For consumers and state regulators alike, knowing that a laboratory meets the stringent certification requirements established by the International Organization for Standardization (“ISO”) offers an important distinction as more states begin to legalize cannabis and must set their own health and safety standards (http://cnw.fm/VxSx6). EVIO Labs is on track to open 18 cannabis testing laboratories by the end of 2018 at locations dotted around the United States. The company is evaluating lab opportunities in Canada as well, in addition to finalizing discussions for several regional service centers.

EVIO continues to build its core management team with the addition of Al Lustig as president and Ron Russak as vice president of operations. Lustig comes to EVIO from pharmaceutical giant Pfizer, where he built, led and helped manage many district, regional and national sales organizations. Lustig’s role at EVIO includes driving growth in new and existing markets, including international sales and operational strategies. Russak, who spent 17 years at Quest Diagnostics, will spearhead the growth and profitability of EVIO’s expanding portfolio of cannabis testing labs.

A recently released letter to shareholders (http://cnw.fm/7mdLk) offers additional information on these important developments.

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

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EVIO, Inc. (EVIO) Sets Up in California as July 2018 Mandatory Cannabis Testing Deadline Approaches

Global testing services market expected to achieve 10 percent-plus CAGR growth
California cannabis testing market also set for exponential increase
EVIO to double national testing footprint to 18 labs

California, befitting its history as part of America’s westward expansion, has earned an appellation as the ‘Wild West’ of pot. Medical marijuana, legal in the state since 1996, has been largely bypassed by quality control and safety regulations. That is about to change. To coincide with the opening of the adult recreational market, a plethora of rules and rubrics has been issued. California MMJ businesses will have until July 2018 to ensure compliance. As a result, demand for cannabis testing services in California is set to increase rapidly, a development that means EVIO, Inc. (OTCQB: EVIO), which has acquired testing facilities in Berkeley, California, is in the right place at the right time.

The supply shortfall in California cannabis testing services is rising to crisis proportions at a time when one report warns that ‘much of the marijuana sold in dispensaries in California would fail safety standards in other states’ (http://cnw.fm/7q9FU). Quality issues plague the industry, as recent examples from further afield demonstrate. A couple of MMJ companies licensed under Canada’s ACMPR were found to be using banned pesticides, and a cancer patient died after acquiring a fungal contamination, which was said to have originated in smoked marijuana.

Despite this alarming state of affairs, there are only 22 testing laboratories operating in the state (http://cnw.fm/fV7XZ). However, where there is crisis, there is also opportunity, and EVIO has been quick to recognize this. Earlier this year, the company announced that it was acquiring C3 Labs in Berkeley, California, which will give it a presence in the Bay Area to go along with its labs in Southern California and north of Sacramento. This will bring the number of labs operated by the company to nine in five states. These include four in Oregon, two in Florida, and one each in California, Colorado and Massachusetts.

Reporting on data compiled by Markets and Markets, High Times recently commented that ‘cannabis lab testing for potency, purity and detailed information such as terpene counts was worth $866 million in 2016.’ By 2021, the global testing services market is expected to hit $1.4 billion, representing a CAGR of more than 10 percent. Driven by such a powerful tailwind, EVIO is set for further revenue growth. The company saw testing services revenues for the nine months to June 30, the last reported period, climb 1,100 percent year-over-year in 2017 to $2.1 million. Now, through testing subsidiary EVIO Labs, the company plans to open 18 laboratories by the end of 2018 at locations throughout the United States.

EVIO is headed by William Waldrop, MBA, chairman and CEO. Waldrop, a co-founder of EVIO Labs’ parent company, spearheaded the acquisition of the company’s first analytical laboratory facility in Bend, Oregon. He has since grown the company to its present five labs and nine operating locations, and he is the driving force behind the nationwide rollout of EVIO Labs.

Previously, Waldrop was chairman and CEO of Newport Entertainment Group and president and COO of College Partnership, a publicly traded company that provided student services. In addition, while working as a senior manager at AirTouch Cellular, he led the team that, in just four years, built a 44-store distribution channel generating over $100 million in annual revenues. As vice president of operations for Leading Edge Broadband, he oversaw the design and roll-out of a global telecommunications sales and outreach network. Waldrop has also provided advisory services to several public companies.

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

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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

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EVIO, Inc. (EVIO) Provides a Critical Service to the Regulated Cannabis Industry

EVIO is a leading accredited provider of analytical services to the regulated cannabis industry
The company currently operates nine laboratories in five states
EVIO is on track to open 18 labs around the U.S. by the end of 2018

EVIO, Inc. (OTCQB: EVIO) provides clients across the United States with consistent, high-quality cannabis analytical services. Backed by a stringent quality control assurance program, the company’s laboratory division, EVIO Labs, is the leading provider of accredited analytical testing, scientific research and advisory services to enterprises in the U.S. regulated cannabis industry. The ancillary services provided by EVIO Labs are state-mandated, requiring the company to ensure the safety and quality of cannabis supplied throughout the nation.

Over the past two years, EVIO Labs has performed more than 50,000 tests, mostly consisting of analysis and testing of cannabis and industrial hemp-based flower, extracts and infused products. The company has grown from one laboratory in Oregon to nine labs in five states, including California, Colorado, Florida, Massachusetts and Oregon. EVIO Labs is on track to open 18 laboratory facilities at other locations around the United States by the end of 2018. Apart from its analytical services, the company provides advisory services to help cannabis producers and retailers enhance production processes, meet quality goals and achieve regulatory compliance.

EVIO Labs has built up its leading position in cannabis biotechnology by leveraging the extensive experience of its scientists and management team. The company’s laboratories specialize in performing analysis for cannabinoids, terpenes and pesticide residues. They also conduct tests for moisture content, as well as the detection of heavy metals and harmful residual solvents from the cannabis extraction process. EVIO Labs has extensive experience in product research and development, analytical chemistry techniques and the cultivation and production of medical cannabis. The company’s management team has a solid track record in designing and rolling out successful business ventures, ensuring conformance to regulatory and compliance standards.

On December 26, 2017, EVIO announced that its Colorado licensee, PhytaTech CO, had attained ISO 17025 accreditation, the highest recognized quality standard for calibration and testing laboratories. Adherence to this standard requires consistent precision and accuracy of testing, and the implementation of a rigorous quality management system. In early January 2018, EVIO acquired a 60 percent stake in C3 Labs, LLC, located in Berkley, California, with an option to purchase the remaining shareholding over the next three years.

In releasing this news, EVIO’s CEO, William Waldrop, stated, “C3 Labs generated over $1M in consulting revenues during the last two years. EVIO plans to continue offering these services along with traditional compliance testing. The 8,000 square foot facility is already outfitted with the latest analytical testing equipment, and will become our Northern California hub laboratory… Demand for testing services is expected to increase significantly as the state rolls out its adult-use marijuana market.”

On January 3, 2018, EVIO announced the appointment of Al Lustig as its new president, reporting to Waldrop. Lustig has a track record of success in sales management and corporate growth at Pfizer, one of the world’s largest biopharmaceutical companies. He will be tasked with driving company growth, as well as developing and executing both national and international sales, and operational strategies. EVIO also appointed a new vice president of operations, Ron Russak, on January 29, 2018. Russak had regional operational responsibility, during a 17-year career with Quest Diagnostics, for 529 patient service centers and 228 inter-office phlebotomy sites in the U.S. He will play a major role in driving the expansion of the company’s laboratory operations.

With its established reputation for accredited analytical, research and development, and advisory services, EVIO is poised to expand its operations across North America. Recent key appointments have strengthened the management team to ensure that the company is well positioned to capitalize on the rapidly growing cannabis industry.

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

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