By: Matt Rego
Signal Bay, Inc. (OTC Pink: SGBY) engages in advisory services, management, analytics, and testing services to the legal marijuana across the United States. The marijuana company is seeing shares rally 18% during the morning trading session on Thursday, August 25, 2016. Over the past three months, Signal Bay, Inc. has seen average daily volume of around 12.67 million shares. Nearly 10.63 million shares or dollar volume of $106,300 has already exchanged hands during early trading Thursday.
Shares of the marijuana company are rallying Thursday after the company released an update detailing of an additional marijuana testing facility purchase. The new testing facility is located in Northern California and will allow the company to establish a foothold in California, which management says is the “largest cannabis market in the world.” Here is the press release detailing of the testing facility purchase:
Signal Bay, Inc. Press Release:
Bend, OR , Aug. 24, 2016 (GLOBE NEWSWIRE) — Signal Bay, Inc. (OTC PINK: SGBY) a leading provider of cannabis consulting, operations, and laboratory services announced today its intention to purchase an additional cannabis testing laboratory in Northern California.
CEO William Waldrop said, “This strategic move is the first of many in establishing us as a serious player in the state of California. We signed the Letter of Intent yesterday and could not be more pleased with this acquisition. Northern California is currently the largest cannabis market in the world and we feel that our company will be able to begin capturing significant market share almost immediately.”
Mr. Waldrop went on to say, “This acquisition will add well over 500 existing accounts to our business portfolio and based on the market itself and the potential business available, we believe that this is just scratching the surface.”
Signal Bay operates state-of-the-art testing facilities and offers reliable testing methodologies that ensure the safety and potency of the nation’s cannabis supply. As the legalization of medical and recreational marijuana continues across the country, demand for reliable cannabis testing facilities is increasing.
Mr. Waldrop also said, “This particular business is established and has a great reputation. We feel that this will be a seamless transition for all involved and we look forward to adding some great players to our already existing team. We will let everyone know when we officially close on this transaction.”
Mr. Waldrop finished up with, “We also want our shareholders to know that we have a lot more exciting news on the horizon and will address each event and milestone one at a time in a series of upcoming press releases.”
About Signal Bay, Inc.: Signal Bay, Inc., through its subsidiaries Signal Bay Research, Signal Bay Services and EVIO Labs, provides advisory services, operational management and analytical testing services to the legal cannabis industry. Learn more at SignalBay.com or the company can be reached directly @ 1-888-544-EVIO.