Digipath, Inc. (OTCQB: DIGP) (“DIGP” or the “Company”), a leading independent analytical testing laboratory, data analytics and technology firm focused on the cannabis and hemp markets, is pleased to announce the closing of its acquisition of VSSL Enterprises Ltd. (“VSSL”). VSSL, located in Kelowna, B.C., is a provider of agritech consulting solutions in the areas of cannabis genetics, tissue culture, cultivation, analytical testing and predictive tools.
LAS VEGAS, NV, March 16, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ‒ Digipath, Inc. (OTCQB: DIGP) (“DIGP” or the “Company”), a leading independent analytical testing laboratory, data analytics and technology firm focused on the cannabis and hemp markets, is pleased to announce the closing of its acquisition of VSSL Enterprises Ltd. (“VSSL”). VSSL, located in Kelowna, B.C., is a provider of agritech consulting solutions in the areas of cannabis genetics, tissue culture, cultivation, analytical testing and predictive tools.
The two co-founders of VSSL, Kyle Remenda and Dr. Philippe Henry, joined Digipath’s executive team in September 2019, and bring a wealth of scientific and practical expertise and industry relationships to the Company. VSSL and Digipath have previously collaborated on the development of the patent-pending, True Hemp ID mobile genetic testing assay that allows for the genetic distinction between Hemp and Cannabis. It was this collaboration that led the two companies to come together.
Digipath believes that the acquisition of VSSL will provide increased growth for its leading ISO certified analytical lab in Las Vegas, NV due to the relationships and scientific credibility of VSSL’s founders. The acquisition also expands the Company’s global ability to provide customers with technical services in the areas of germplasm development, tissue culture and cultivation. In addition, VSSL will continue to pursue growth opportunities in Canada, where cannabis is federally legal.
“We are excited to bring our vision, expertise, and IP to Digipath and its world class analytical lab,” stated Kyle Remenda, CEO, Digipath, Inc. “Together, I believe we can build a significant company that will be at the vanguard of science-based improvements in the quality and productivity of the global hemp and cannabis industry.”
About Digipath, Inc. (OTCQB: DIGP)
Digipath, Inc. supports the cannabis industry’s best practices for reliable testing, data acquisition, formulations, and new canna-tech to the cannabis industry.
Digipath Labs provides pharmaceutical-grade analysis and testing to the cannabis industry to ensure producers, consumers, and patients know exactly what is in the cannabis they ingest and to help maximize the quality of its client’s products through analysis, research, development, and standardization.
VSSL is a provider of agritech consulting solutions in the areas of genetics, tissue culture, cultivation, analytical testing, and predictive tools.
Information about Forward-Looking Statements
This press release contains “forward-looking statements” that include information relating to future events. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the Company’s need for additional funding, the demand for the Company’s products, governmental regulation of the cannabis industry, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, and other risks that may be detailed from time-to-time in the Company’s filings with the United States Securities and Exchange Commission. For a more detailed description of the risk factors and uncertainties affecting Digipath, please refer to the Company’s recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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