- Cannabis testing comprises about five percent of the multibillion-dollar cannabis industry
- Company currently operates nine testing labs in five U.S. states
- Plans in view to double number of operating labs by year-end 2018 and potentially expand into Canada
Leading cannabis testing services provider EVIO, Inc. (OTCQB: EVIO) is on a growth trajectory that is bounded only by the growth limits of the blossoming cannabis industry itself. In other words, things are looking good for EVIO.
Cannabis testing services like those offered by EVIO currently comprise about five percent of the total marijuana market, which is projected to reach $31.4 billion globally by 2021 (http://ibn.fm/vcQ3t). Ancillary services to the cannabis market make an attractive investment opportunity that is considered more reliable in many ways than investing in the plant directly. EVIO’s offerings further add the inducement that cannabis testing is mandatory and will continue to be so, making this particular segment of the industry a solid one that boasts longevity, predictability and sustainability. The market for cannabis testing is, for these reasons and others, one of the most enticing for investors within the legal marijuana space.
Offering accredited cannabis testing as well as leading-edge analytical and consulting services, EVIO currently operates nine testing laboratories in five states and is in position to increase that number to 18 labs by the end of 2018.
Among current plans in view for EVIO, the company is in the process of evaluating new lab opportunities in four additional U.S. states, as well as in Canada. With Canada on the precipice of legalizing recreational marijuana use nationwide, expanding services into that country could be a smart strategic move for EVIO. Currently, about 90 percent of worldwide cannabis sales are driven by the U.S., and Canada is sure to claim its share of that percentage once recreational use is legalized there, which is anticipated to occur by July 2018.
Services offered by EVIO to the cannabis industry include leading-edge testing and verification services that meet state mandates and help ensure both the quality and safety of America’s cannabis supply. The company additionally offers expert advisory services to help cannabis companies secure their cannabis licenses and optimize their operations and products.
The demand for such services will continue to keep pace with the rapid growth of the legal cannabis industry as whole, positioning EVIO to continue its promising growth trajectory within this burgeoning space as the broader cannabis market continues to expand.
For more information, visit the company’s website at www.EVIOLabs.com
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