Signal Bay, Inc. (OTC Pink: SGBY) is involved in the consulting, management, testing, analytics, and laboratory services of medical and recreational cannabis products. Shares of the cannabis company are rallying nearly 35%, during afternoon trading on Monday, September 26, 2016. Over the past three months, Signal Bay, Inc. has seen average daily volume of around 21.7 million shares. Nearly, 17.05 million shares or dollar volume of $216,535, has already exchanged hands through afternoon trading Monday.
Shares of Signal Bay, Inc. are rallying Monday, after management released news that detailed of the company’s Oregon testing facilities, which received accreditation from the state of Oregon. With the testing facilities getting the nod of approval from the Oregon government, management now expected to see a massive inflow of orders and testing services over the remainder of 2016. Here is the press release detailing of the recent accreditation award:
Signal Bay, Inc. Press Release:
BEND, OR / ACCESSWIRE / September 23, 2016 / Signal Bay, Inc. (OTC PINK: SGBY) a leading provider of cannabis consulting, operations, and laboratory services announced today that they are prepared and expecting a sizable influx of new business accounts as a result of the small number of labs that have been able to meet all of the accreditation requirements required for the state of Oregon.
CEO William Waldrop stated, “We’ve seen multiple articles and editorials suggesting that a backlog of accreditation applications could cause some disruption in the cannabis market across the state. Overall, the cannabis testing market may experience some shortcomings, but EVIO Labs is fully prepared to take on the work. We’ve already seen a significant uptick in new business. As one of the few accredited options for testing at this point, we want to assure cannabis operators across the state that we are staffed and ready to handle any and all new business that comes our way over the next few months. For example, we are already preparing for fall harvest by working with large outdoor growers to coordinate testing with clients harvest schedules.”
Mr. Waldrop also said, “We have streamlined our operations across the company in a way that will ensure consistency and efficiency allowing us to meet demand. Our team is passionate about what we do and is committed to ensure we leverage this critical stage of our company’s growth trajectory. We feel strongly that in the future, we’ll look back at the fourth quarter of 2016 as a point where we grew significantly because we planned ahead, we’re well prepared and worked overtime to ensure our clients received exceptional service.”
Signal Bay operates state-of-the-art testing facilities and offers accredited testing methodologies performed by a qualified team of scientists to ensure the safety and quality 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 went on to say, “Opportunities to operate in a constrained market don’t come around often. Early accreditation approval gives us a chance to shine and gain notoriety from a whole new client base. Its a very exciting time for our company. Once we formally close on our Portland location, that will give us even more of an opportunity to build our business at an accelerated pace.”
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 www.SignalBay.com or the company can be reached directly @ 1-888-544-EVIO.