VAN NUYS, Calif., May 6, 2020 /PRNewswire/ -- CannaSafe, California's leading ISO accredited cannabis testing laboratory, announced today that Aaron Riley, the company's former president, has been appointed as the company's new CEO. The news follows a successful and mutually agreed upon buyout of the company's previous business partners. As president, Aaron has grown CannaSafe from a three-person lab with a 100-square-foot facility to over 150 employees and a 12,500 square foot lab in LA, with a new 25,000 sq ft headquarters. CannaSafe was the first ISO accredited lab in cannabis and currently tests 30% of the total California cannabis market.
In addition to the company's leadership change, new testing labs in Oregon, Florida and Illinois were also announced and are expected to be operational in Q2/Q3. With cannabis deemed essential and increased demand for cannabis during the COVID-19 pandemic, CannaSafe will utilize the additional laboratories to ensure consumer safety under the continuation of the cannabis supply chain.
"I am thrilled to reach an outcome that is favorable for all parties and want to thank my former business partners. We're proud of our accomplishments thus far and I look forward to continuing to lead further growth and to navigate this pandemic safely, together as a team," said Aaron Riley, CEO of CannaSafe. "Our continued services amid the COVID-19 pandemic is a prime example of our new mission and core values. With these additional locations we are diligently following our pursuit of safe cannabis and hemp for all and working towards our goal of being an upstanding member of the community. These are extremely tough times for society and we at CannaSafe are committed to supporting the cannabis supply chain and providing safe and high-quality products to cannabis users."
CannaSafe's new testing locations will bring high-quality, comprehensive testing services to the hundreds of brands growing in Oregon, Florida and Illinois, ensuring their products are compliant with their state regulations. Since it is federally illegal to ship products containing THC across state lines, CannaSafe's California lab has been unable to accept out-of-state business, despite demand. The expansion will open up access to companies outside of California, with current clients having expressed strong interest in partnering with CannaSafe in their new locations.
"Over the past few years, we've established CannaSafe as a rigorous and trusted lab partner," said Aaron Riley. "We've had numerous inquiries from brands in these states to utilize CannaSafe's services, and we're excited to provide our expertise and best-in-class services in these new markets. Furthermore, cannabis testing is more important now than ever during these unprecedented times considering the steep spike in cannabis sales. By opening additional laboratories, we are doing our best to persevere despite the circumstances and bring assurance to users."
CannaSafe has also moved into a new headquarters facility to accommodate the industry growth and demand. At 25,000 feet, the new headquarters is twice the size of their current facility and will be used to command and manage company-wide operations of CannaSafe's quickly expanding lab network. This new location will house corporate staff as well as a state-of-the-art R&D facility geared at opportunities to make groundbreaking discoveries in Cannabis and Hemp.
CannaSafe has a 3-year audited revenue growth of over 12,000% - meaning that it matches its 2017 yearly revenue in a matter of a few days. CannaSafe's laboratory testing services are utilized by the most recognized and trusted California cannabis and hemp brands like Dosist, Raw Garden, Stiiizy, Lowell Herb Co and Heavy Hitters.
CannaSafe Analytics is committed to defining consumer safety and quality assurance standards for the cannabis industry. They are a full-service testing laboratory offering a one-stop solution where cannabis cultivators and distributors can ensure that they are in full compliance with all regulatory requirements and that their products are effective and safe for use. CannaSafe Analytics is proud to be the first accredited cannabis testing lab in the world. Over the years, they have been continuously setting the standard for cannabis testing through the utilization of state of the art technology, cutting-edge scientific methods, and expert staff. To learn more about CannaSafe, visit https://www.csalabs.com/.