EVIO Inc.. Releases Fourth Quarter 2018 Outcomes

Releases Preliminary Fourth Quarter 2018 Outcomes

EVIO Inc.. , (OTCQB: EVIO), a leading provider of cannabis testing and scientific research for its controlled cannabis industry in North America, announced today unaudited analytical testing earnings for its fiscal 2018 fourth quarter ended September 30, 2018. Revenues from North American operations which includes business owned laboratories in Oregon, California, Massachusetts and Alberta, in addition to royalty revenues from licensed labs in Colorado and Florida was USD$1.05 million. The business is expected to post its audited 2018 full year results in January.

William Waldrop, EVIO’s Chief Executive Officer commented, “We are pleased to report unaudited earnings for its fiscal fourth quarter ending September 30, 2018 of $1,054,000 vs. $634,338 for the last quarter ending June 30, 2018, representing quarterly increase of 66%. Key drivers for earnings growth included rsquo & California;s testing requirements that came into effect on July 1, 2018 and stabilization of the Oregon market. The business has strategic initiatives. EVIO Labs Berkeley is prepared for the next increase in state mandated testing requirements commencing. EVIO Labs Humboldt is finishing optimization and installation of gear and is scheduled to provide complete compliance testing services. Palm Desert labs and los Angeles are in the licensing process and are forecasted to come into service. ”

“In Oregon, the business is currently working to enhance operational efficiencies and profitability by consolidating Bend, Eugene and Eastern Oregon operations to the new Portland facility that we acquired in July 2018. This move will reduce costs while maintaining growth and improving quality of service. ”

Mr. Waldrop went on to say, “We shall continue our operations in Massachusetts in January, 2019 with the opening of a new state-of-the-art facility in Framingham, MA, where we’re completing tenant improvements. License approval is anticipated by us from the Massachusetts Cannabis Commission in the coming weeks. Further, the Company’s licensees in Colorado and Florida are both currently providing steady royalty revenues. We notice that its second place opened up in FLA. Gainesville ”

“on November 8, 2018 the long awaited independent pesticide testing that goes into effect, Health Canada finally announced On the Canadian front. We are pleased to say we’re in final stages of completing the installation of CDN$1.1M of new laboratory equipment at our facility in Edmonton, Alberta. This positions EVIO as one of a labs that are licensed that may fully serve the testing requirements of producers that are Canadian. We look forward to supplying our compliance and security services across Canada where as of October 17, 2018, cannabis use is federally regulated for both medicinal and recreational purposes. ”

Mr. Waldrop finished up with, “We could not be happier with our latest results and the overall operation of our entire team. We are currently working together to pioneer a new business that’s in a state of political and regulatory changes. The EVIO team has had to continually adapt and reengineer itself to stay both in compliance in a highly regulated industry and competitive in a marketplace that is brand new and everchanging. We wish to thank all you for your support and look forward to sharing more in the coming weeks with you. ”

About EVIO Inc..

EVIO Inc. is a leading provider of cannabis testing and scientific research for its controlled cannabis market. The EVIO Labs division of the Company operates coast-to-coast supplying ancillary services to ensure the safety and quality of the nation’s cannabis supply. The Company’s EVIO Biosciences Division is devoted to the scientific exploration of cannabinoids cannabis, and the system.

For more information, see www.eviolabs.com.

Any statements in this press release that aren’t statements of historical fact maybe considered to be forward-looking statements. Statements may contain certain forward-looking statements pertaining to future performance, projected or anticipated plans and developments, as well as other statements relating to results and future operations.

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