HENDERSON, NV / ACCESSWIRE / May 19, 2022 / EVIO, Inc. (OTC:EVIO) announced today that its wholly owned subsidiary Greenhaus Analytical Labs, LLC ('Greenhaus') has entered into a letter of intent with Coast to Coast Contracting and Consulting ('CCCC') to enable Greenhaus to quickly expand into Residential and Commercial Construction Business in Florida.
This is a non-dilutive transaction as no shares of EVIO or membership interest of Greenhaus are being issued as a result of this transaction. Greenhaus and CCCC have developed a partnership agreement with a pathway for Greenhaus to stand on its own as a licensed general contractor. Greenhaus has extensive relationships in place in Florida today and has projects that are in need of these types of services, including one project valued in excess of $2 million.
According to 'Statista Research Department' report published on September 30, 2021, the Florida Construction Market will reach $171.4 billion. In addition to Florida being one of the top 10 states people are relocating, makes it ideal climate for expansion of a licensed general contractor.
Regarding current operations, EVIO still owns and operates 50% of Keystone Labs, its Pharmaceutical and Cannabis testing labs in Edmonton, Alberta. Keystone management is currently implementing plans to expand its current pharmaceutical business.
Given current market conditions and additional filing requirements, The EVIO Board of Directors has determined it is in the best interest of shareholders to postpone and withdraw the Tier 1, Regulation A offering. EVIO is continuing to evaluate opportunities in the mining space and may re-submit a registration statement when market conditions improve.
William Waldrop, EVIO CEO commented, 'Management is excited about the opportunity to expand into the Residential and Commercial Construction business in Florida. This path forward requires minimal upfront capital, which is of course important for EVIO shareholders as we all felt the impact of the debt conversions at the current price per share. While there is still debt on the books, a majority of it is at a significantly higher conversion price that where EVIO is trading today. As mentioned, withdrawing the Regulation 1-A filing and waiting for better market conditions will be beneficial to all stakeholders. Lastly, EVIO is continuing to work with its accountants and auditors so that EVIO can be pink current on the OTC Markets.'
EVIO, Inc. ('EVIO') is a diversified holding company. Current operations include pharmaceutical, environmental, stability and analytical testing in Canada. EVIO is currently finalizing plans to enter the Florida Construction Business and is still evaluating opportunities to diversify its business into the mining of precious and rare earth minerals.
For more information, visit www.evioinc.com
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For more information:
William Waldrop, CEO
SOURCE: EVIO, Inc.
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