With the acquisition of C3 Labs, EVIO cannabis testing lab has now expanded to California.
EVIO Sciences is a life sciences company who also serves as a leading provider of quality control testing and regulatory advisory services from coast to coast. The company announced at the start of this year that they had acquired 60% of C3, LLC., a cannabis testing lab in California. EVIO maintains the right to acquire another 30% of C3, LLC. if they meet terms disclosed in a public press release.
C3 Labs is located in Berkeley, California. They were granted a temporary testing license from the state on January 1, 2018. After the recent acquisition, they will be operating under the name EVIO Labs Berkeley serving licensed California cannabis businesses in accordance with rules and regulations from the Bureau of Cannabis Control.
“The addition of C3 Labs to the EVIO network is a tremendous milestone for EVIO Inc. C3 Labs generated over $1M in consulting revenues during the last two years, EVIO plans to continue offering these services along with traditional compliance testing. The 8,000 square foot facility is already outfitted with the latest analytical testing equipment, and will become our Northern California hub laboratory,” commented William Waldrop EVIO CEO.
From the 1800 applications submitted to the Bureau, only 400 temporary licenses have been granted in California. The Bureau has also implemented emergency rules that require cannabis harvested or processed after January 1, 2018 to be analyzed by a licensed cannabis testing lab. Regulators plan to phase-in new, more rigid testing rules on July 1, 2018, and then January 1, 2019.
Waldrop continued, “This acquisition represents a significant development for EVIO as the Company continues to focus on increasing market share in the state of California. Demand for testing services is expected to increase significantly as the state rolls out its adult-use marijuana market.”
This is the ninth EVIO cannabis testing lab in the states, with the majority of laboratories operating in Oregon. The lucrative acquisition of this Berkeley testing lab will only add to what is already a commanding presence in the cannabis science market.