LAS VEGAS--(BUSINESS WIRE)--Signal Bay Inc. (OTC:SGBY) is pleased to announce it has completed the acquisition of CannAlytical Research, an analytical testing laboratory in Bend, Oregon. Equipped with the latest high-performance liquid chromatography equipment, CannAlytical Research has been providing state-mandated compliance tests for licensed medical marijuana dispensaries since May 2014.
In 2014, Oregonians passed Measure 91, which legalized recreational marijuana. The Oregon Liquor Control Commission is currently finalizing regulations to accept and issue licenses to grow, process and retail recreational marijuana. New Frontier Financials projects the Oregon market will exceed $450 million in legal cannabis sales by 2020.
"We are excited to be a part of this burgeoning market," exclaimed William Waldrop, CEO of Signal Bay. “The team at CannAlytical Research has been building a foundation, steadily growing their testing services and are primed to be a significant player in the $10 million Oregon testing market as projected by Green Wave Advisors.”
“We are pleased to join forces with Signal Bay. This partnership will allow us to continue to provide great customer service, while expanding our operations and help position us to be a leading test lab in the state as we move into the recreational market,” says Eric Ezrine, President of CannAlytical Research.
About Signal Bay, Inc.
Signal Bay Inc., through its wholly owned subsidiaries Signal Bay Research, Inc. and Signal Bay Services, Inc. provides industry research, consulting, license application support and analytical testing services to the legalized cannabis industry. The Cannabis Consultant Marketplace is an online managed marketplace that enables companies to find and engage top-tier professionals who serve the cannabis industry. Learn more at www.signalbayinc.com
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