EVIO, Inc. Announces Diversification into Blockchain
EVIO, Inc. (OTC: EVIO) announced its diversification into the blockchain sector on November 2, 2021, aiming to enhance capital returns through strategic investments. The company plans to leverage distributed ledger technologies to improve authentication and secure transmission of cannabis and pharmaceutical test results. Additionally, EVIO is negotiating the acquisition of cryptocurrency mining equipment, anticipating high annualized returns and improved balance sheet stability. CEO Lori Glauser expressed confidence in promoting product authenticity for hemp and cannabis stakeholders through these initiatives.
- Diversification into blockchain can improve returns on capital.
- Utilization of distributed ledger technologies to enhance product authentication.
- Negotiations to acquire cryptocurrency mining equipment for potential high returns.
- None.
HENDERSON, Nev., Nov. 2, 2021 /PRNewswire/ -- EVIO, Inc. (OTC: EVIO) announced today that the company is diversifying into the blockchain space.
The company has identified a substantial opportunity to generate return on capital through engagement of strategic investments in blockchain technologies. There are initially two areas that the company will engage:
- The company is evaluating opportunities to leverage distributed ledger technologies ("DLT") to dramatically improve the way cannabis and pharmaceutical test results and product metadata are authenticated, accessed, and securely transmitted between owners.
- The company is also negotiating the acquisition of cryptocurrency mining equipment. The company believes in the future of cryptocurrency, and with recent relative price of coins and cost of mining equipment, mining can provide high annualized returns and provide better stability to our balance sheet.
CEO Lori Glauser says "Now that the blockchain ecosystem is maturing, EVIO is in a unique position to offer to its hemp and cannabis growers, breeders, product manufacturers and brands new ways to demonstrate authenticity of its products and drive interest in their brands. Meanwhile, cryptocurrency mining provides a way to diversify into the blockchain space with an effective use of capital."
About EVIO
EVIO, Inc. is a provider of analytical testing services for cannabis, hemp, and CBD products. EVIO maintains full-service, licensed and accredited laboratory operations in California, Oregon, and Canada. EVIO also provides clients with quality analytical R&D and consulting services to help them produce the best, compliant products.
For more information, visit www.eviolabs.com.
Safe Harbor Statement
Any statements in this press release that are not statements of historical fact may be considered forward-looking statements pertaining to 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, the Company's ability to complete product testing and launch product commercially, the acceptance of 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 Company reports filed with the Securities and Exchange Commission, available at www.sec.gov or www.eviolabs.com.
For Further Information contact Lori Glauser, Interim CEO. info@eviolabs.com
Lori Glauser, Interim CEO, info@eviolabs.com, +1 702-748-9944
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SOURCE EVIO, Inc.
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