Earlier in the month of July, Signal Bay Inc (OTCMKTS:SGBY) CEO William Waldrop reported that the firm’s new mantra is “Coast to Coast,” indicating to an aggressive expansion plan for the firm’s EVIO Labs cannabis testing segment. That update was part of a broader announcement that touched on a lease in Costa Mesa, California for an official analytical testing services unit that will be a corporate center for the Southern California market.
Shortly after that update, the company finalized a definitive deal to buy Viridis Analytics MA, which comes in the lit of the few operating cannabis testing laboratories in Massachusetts. Now the company is building its presence in Florida, advancing a pattern of targeting the major markets in the United States.
Florida was one of seven states to approve marijuana for either recreational or medical application at the ballot box during the 2016 elections held in last November. Florida, along with Arkansas and North Dakota, approved medical marijuana. California, Nevada, Maine and Massachusetts, states where medical application of cannabis was already permitted, broadened their guidelines to decriminalize recreational application now too.
Commenting on the expansion, Waldrop reported that they are as part of their EVIO Labs business, they are targeting major locations with evolving or established cannabis infrastructure and highways. With labs in Florida, Massachusetts, California and Oregon, Signal Bay is covering almost 71 million people, or nearly 22% of the total United States population.
To target the Florida market, the company didn’t opt for an acquisition or separate out on its own, instead determining to associate with Kaycha Holdings, LLC. Waldrop mentioned that each state has distinct dynamics. In this instance, it was far more efficient and expeditious to work with a great associate in Kaycha, a firm with deep community relations and