LAS VEGAS--(BUSINESS WIRE)--Signal Bay Inc. (OTC:SGBY) a leading provider of cannabis consulting, operations, research and laboratory services is pleased to provide our shareholders a corporate update.
2015 was an emergent year for Signal Bay, demonstrating our commitment to safety and compliance in the cannabis industry. We completed a majority acquisition of a cannabis testing lab, and are engaging with two additional labs in the heart of the biggest cannabis growing regions in the US. Our consulting practice flourished in late 2015 as we assisted several new consulting clients with licensure and startup of new marijuana establishments.
In September the Company completed on the acquisition of a majority ownership of CR Labs, Inc., an operating cannabis testing facility located in Bend, Oregon. Later in the year we executed an MOU to make a strategic investment in Kenevir Research in southern Oregon. Looking toward near future we anticipate to continue to evaluate additional acquisition and expansion opportunities in Oregon.
The company also announced that it has entered in a letter of intent to open a cannabis testing lab in the heart of the Emerald Triangle emphasizes the company’s commitment to a growth strategy in California. California is a state that according to Peter Hecht of the Sacramento Bee “is the largest marijuana marketplace on the planet… where medical marijuana dispensaries annually ring up more than $1 billion in sales, and about 1 million Californians now have physicians’ recommendations for cannabis use.”
This year was also a year of growth for Signal Bay’s consulting services. We formed the Cannabis Consultant Marketplace. A network of over 500 professionals from around the world whom we draw from to provide consulting services for Signal Bay and other firms seeking expertise.
We announced a strategic partnership with New Leaf Data Partners, publisher of Cannabis Benchmarks™. Through this partnership, Signal Bay Research contributes data and resources to weekly assessments of spot and future prices of bulk cannabis across the country.
Signal Bay Research also published the Medical Marijuana Desk Reference, a guide that provides a comprehensive resource for retailers, cannabis nurses, physicians, as well as cannabis patients who seek to understand the benefits and adverse effects of medicinal cannabis.
We signed a number of consulting clients in both Oregon and Maryland to assist with licensing, ultimately submitting dozens of marijuana establishment license applications on behalf of clients. The company looks forward to the results of Maryland’s highly competitive application process which is expected to be released sometime in the summer. We also anticipate continuing to work with Oregon’s recreational marijuana establishment applicants throughout the first half of 2016.
Signal Bay has been actively hosting and speaking at tradeshows throughout the year. We hosted the two-day Powering Indoor Agriculture for Utilities conference in Las Vegas; presented at the State of Marijuana 2015 event in Santa Monica; presented at the Marijuana Business Expo in Las Vegas; and sponsored the Cannabis Growth Capital Conference in Las Vegas. We will also be speaking at several upcoming conferences in 2016.
The company will co-host the Marijuana Investor Summit on Feb. 2 in Portland, and will be a sponsor of the 2nd annual Marijuana Investment Summit March 3-5 in San Francisco. The company extends an invitation to all interested cannabis investors and our current shareholders to join us at these events and encourage you to sign up for our weekly newsletter to follow more trade show and conference announcements.
CEO Will Waldrop stated that "Signal Bay achieved many of its goals of growth and success last year and is working smart to enhance shareholder value in 2016. We will continue to evaluate additional growth opportunities to strategically position Signal Bay to become a leader of cannabis compliance and testing in the Western United States.”
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.