EVIO, Inc. Engages in Strategic Partnership to Launch EVIO Labs Costa Mesa
May 08, 2019 at 09:23 am EDT
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EVIO Inc. announced that it has engaged in a strategic partnership with Gexin Analytical Labs (Gexin) to complete the buildout and operation of EVIO Labs Costa Mesa. This partnership paves the way for EVIO Labs to realize its vision of providing analytical testing services throughout California. EVIO Labs Costa Mesa will be the only analytical testing lab in Costa Mesa’s coveted “Green Zone,” positively positioned adjacent to the fourteen licensed distributors that operate within 1,000 feet of the lab’s location, as well as hundreds of distributors throughout Orange and Los Angeles counties. Gexin has entered into an Intellectual Property License Agreement which provides them the exclusive right to operate under the EVIO Labs brand in the Los Angeles and Orange counties markets. Under the terms of the agreement, the initial license fee payable to EVIO is $500,000 and commencing in year 2, a 5% gross royalty of all testing revenues. Gexin sees this laboratory buildout as a “proof of concept” that will pave the way for additional targeted investments in the future.
EVIO, Inc. is a diversified holding company. The Company provides analytical testing services to the agricultural and pharmaceutical industries, primarily for cannabis, hemp, and related products. The Company offers residential and commercial construction services. The Company also offers research and development and consulting services for participants in the cannabis and hemp industries. The Company tests products to verify the regulatory requirements for sale. Its subsidiaries include Smith Scientific Industries, LLC; Greenhaus Analytical Labs, LLC; Viridis Analytics, LLC; EVIO Labs OR, Inc.; C3 Labs, LLC; EVIO Labs Humboldt, LLC and Keystone Labs, Inc.