EVIO Inc., (OTCQB: EVIO), a leading provider of cannabis testing and scientific research for the regulated cannabis industry in North America, announced today that it has completed its previously announced acquisition with MRX Labs, LLC, an Oregon-based, award-winning testing lab.
EVIO acquired 100% of the assets of MRX Labs, LLC including equipment, real estate, customer lists, customer contracts, rental agreements, and equipment leases. EVIO Labs Portland will relocate its personnel and license to the former MRX Labs Tigard location, and the new lab will operate as EVIO Labs Portland. This move will provide EVIO additional operational capacity, as well as an extensive book of business that extends across the state.
"We are happy to have completed this transaction and add MRX Labs to our portfolio," said William Waldrop, CEO of EVIO. "MRX Labs is well known for outstanding client care and service, and we want their clients to know that we are extremely focused on making the transition as smooth and seamless as possible. We will be able to provide all the same services clients receive today while also being better operationally equipped to provide all the state-mandated tests in-house and service all our clients in Oregon."
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 MRX Labs
MRX Labs, LLC is a premier cannabis and hemp services company based in Tigard, Oregon. MRX Labs offers full-spectrum bio-analytical services for all testing needs. Our highly trained professionals and cutting-edge testing procedures have set the standard for precision and quality. MRX Labs was named "The Best Testing Facility in Oregon" in 2016 and 2017 by Dope Magazine.
For more information, visit www.mrxlabs.com.
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.
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SOURCE EVIO Inc.