LAS VEGAS--(BUSINESS WIRE)--Signal Bay Inc. (OTC:SGBY), a leading provider of cannabis consulting, operations, and laboratory services, is pleased to announce that it has entered into a Letter of Intent (LOI) to expand its cannabis testing services to the Emerald Triangle in Northern California. Under the terms of the LOI, Signal Bay will operate a cannabis testing laboratory and provide analytical testing services to the largest cannabis-producing region in the United States.
"With the recent passing of California Medical Marijuana Regulation inclusive of AB 243, AB 266 and SB 643, legislatures have clearly spoken about the need for independent testing to ensure product safety for California Medical Marijuana Patients,” said William Waldrop CEO of Signal Bay. “Building on our recent acquisition of CR Labs in Oregon, we are evaluating additional growth opportunities to strategically position Signal Bay to become a leader of cannabis testing in the Western United States."
The possession of cannabis has been legal for California medical marijuana patients since the passage of Proposition 215 in 1996. California has the largest legal cannabis market in the United States at $1.3 billion annually. Cannabis analytical testing includes tests for potency, homogeneity, microbial contamination, residual solvents, and pesticides. The California cannabis testing market could exceed $80 million with the passing of the recreational ballot initiative in 2016.
About Signal Bay, Inc.
Signal Bay, Inc., through its
subsidiaries Signal Bay Research, Inc., Signal Bay Services, Inc. and CR
Labs, Inc., provides industry research, advisory services, operational
management and analytical testing services to the legalized cannabis
industry. Learn more at www.signalbay.com.
Notice Regarding Forward-Looking Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
