EVIO, Inc. Expands CDB Product Stability Studies Internationally

Rhea-AI Summary

EVIO, Inc. (OTC PINK:EVIO) has launched international cannabinoid shelf life and stability tests through its subsidiary, Keystone Labs, in Alberta, Canada. This initiative responds to new regulations set by British food regulators (FSA) regarding CBD products. EVIO aims to capitalize on this need, securing early mover advantage and significantly enhancing revenue and margins. The company’s capabilities will help U.S. CBD firms meet international requirements, further expanding EVIO's market presence. Overall, this development positions EVIO as a leader in the evolving cannabis testing market.

Positive

• Launch of international cannabinoid shelf life and stability tests, enhancing market position.
• Opportunity to meet regulatory requirements for U.S. CBD companies, supporting revenue growth.
• Anticipated increased demand for testing services in response to new CBD regulations.

Negative

• None.

HENDERSON, NV / ACCESSWIRE / October 8, 2020 / EVIO, Inc. (the "Company" or "EVIO") (OTC PINK:EVIO), is proud to announce the launch of our first set of international accelerated cannabinoid shelf life & stability tests in conjunction with our subsidiary, Keystone Labs, in Alberta, Canada. This new and developing aspect of cannabis testing offers significant potential for EVIO to again be a leader in the rapidly expanding market of cannabis THC, CBD & Hemp testing.

This study was triggered by a deadline set by the British food regulators (FSA) for their new CBD food rules. These new regulations stipulate that after March 31, 2021, only products that have "submitted a valid application will be allowed to remain on the market," which includes product stability.

EVIO Labs CEO William Waldrop noted, "This developing need in the cannabis market creates a great opportunity for EVIO to get ahead of the competition with a process that has barriers to entry and requires meaningful specialization. Our geographic presence in key THC, CBD, and Hemp markets gives us a path for becoming a leader in this unique aspect testing, which we feel confident will become an expected requirement in the US and Canada. Getting ahead of this now will give us an early mover advantage on a process that offers EVIO significant revenue growth, in addition to notably improved margins."

EVIO Labs can now help USA based CBD companies meet more international requirements by facilitating accelerated stability tests for the purpose of international sales. EVIO will be implementing this testing service in all of its labs and marketing the new ability to help companies with this need.

National Initiatives

Since launching nationally targeted CBD and Hemp product marketing initiatives on the heels of the 2018 Farm Bill approval, the launch of our website www.hemptesting.com, and the explosion of the availability of CBD products, the Company has driven new revenue growth by testing hemp flower and a myriad of hemp and CBD manufactured products from around the US. The Company has created the Hemp and CBD Safety Panel test, focused on providing manufacturers and distributors a comprehensive suite of tests that gives clients the utmost confidence in the purity and potency of their products. The company anticipates both hemp and CBD trends to continue, further expanding EVIO's market position.

About EVIO, Inc.

EVIO Labs is a provider of cannabis, hemp, and CBD testing. EVIO maintains licensed and accredited cannabis, CBD, and hemp full-service testing laboratory operations, and provides clients with quality analytical, R&D, and consulting services to produce the best, compliant products. EVIO provides quality assurance to consumers that the potency listed on the label matches what is in the package, and that the product is free of harmful contaminants.

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:

William Waldrop, CEO
investorrelations@eviolabs.com
702-748-9944

SOURCE: EVIO Inc.

View source version on accesswire.com:
https://www.accesswire.com/609646/EVIO-Inc-Expands-CDB-Product-Stability-Studies-Internationally

FAQ

What new testing services is EVIO launching?

EVIO is launching international cannabinoid shelf life and stability tests in Alberta, Canada.

What triggered EVIO's new testing initiative?

The initiative was triggered by new CBD food regulations set by British food regulators that take effect after March 31, 2021.

How will the new tests benefit EVIO?

The new tests allow EVIO to capitalize on regulatory needs, potentially increasing revenue and improving margins.

What is EVIO's stock symbol?

EVIO trades under the stock symbol EVIO on OTC PINK.