- Name change to EVIO, Inc., from Signal Bay, Inc., reflects fact that EVIO Labs division generates majority of company volume
- New ticker symbol of EVIO will become effective October 3, 2017, for the legalized cannabis industry’s quality control testing and ancillary advisory services company
- Reverse stock split is positioned to attract institutional investors to provide funding for company’s vision of becoming a leading biotechnology firm in the cannabis industry
EVIO, Inc. (OTCQB: SGBYD) has changed its name from Signal Bay, Inc. and also announced a reverse stock split (http://cnw.fm/Vk8tC). The life science company will also have a new ticker symbol, EVIO, effective October 3, 2017, pending approval. EVIO Labs provide the cannabis industry with accredited analytical testing and scientific research.
EVIO engineered the 1:100 reverse stock split in order to reduce its outstanding shares from three billion to one billion. After the split, the par value of each share of common stock remains unchanged.
“We are excited about the future direction of the Company, under the new name of EVIO, Inc.,” William Waldrop, EVIO CEO, stated in a news release. “We aligned the corporate name with our EVIO Labs Division which accounts for a majority of our revenue and lays a foundation for becoming a leading cannabis biotechnology company. Furthermore, with the effectiveness of the reverse stock split, we structured the company to be best positioned for institutional investors to provide the necessary funding to complete our vision. These are exciting times to be part of the fastest growing industry in the world, and EVIO is now positioned to take full advantage of this opportunity.”
Additionally, the company has licensed its brand and cannabis technology in Colorado to Phytatech CO, LLC. Phytatech will now operate under the EVIO Labs brand (http://cnw.fm/tG2Po).
For more information, visit the company’s website at www.EVIOLabs.com
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