LAS VEGAS, Jan. 22, 2019 /PRNewswire/ -- Digipath, Inc. (OTCQB: DIGP), a service-oriented independent testing laboratory, data and media firm focused on the developing cannabis and hemp markets, is pleased to announce that it has entered into an agreement to provide fully-functional potency testing laboratories for hemp production sites owned by Hemp, Inc. (OTC: HEMP) in North Carolina, Oregon and Arizona.
Under the terms of the agreement, Digipath will oversee and manage the construction and build out of a hemp potency-testing laboratory in three of Hemp's locations. Hemp. Inc. will provide the space for the testing laboratories at no cost to Digipath.
Once completed, the laboratories will be owned and operated by Digipath. The Company will provide all necessary laboratory-expertise and related management services to develop and operate each Lab, including purchasing and maintenance of the laboratory instrumentation, as well as hiring and comprehensive training of Lab Personnel. Digipath will also utilize its proprietary ISO-17025:2017 accredited standard operating procedures and testing protocols, to establish, maintain, and operate each Lab.
"Digipath was the logical choice to create and operate a stand-alone laboratory at each of our hemp production facilities," stated Bruce Perlowin, CEO, Hemp, Inc. "Digipath is a leader in cannabis and hemp testing best practices and continues to provide cutting edge testing services for this industry. These new Digipath labs will not only test all of our hemp products but will also be available for all of the local hemp farmers in each area to do their own required testing."
"Our agreement with Hemp, Inc. demonstrates Digipath's ability to leverage its proven methodology and install it virtually anywhere cannabis and hemp products are required to be tested," stated Todd Denkin, President and CEO, Digipath. "Working with a market leader like Hemp, Inc. is a tremendous opportunity for Digipath as we look to expand our presence both foreign and domestic."
About Digipath, Inc. & Digipath Labs, Inc.
Digipath, Inc. supports the cannabis industry's best practices for reliable testing, data acquisition, cannabis education and training, and brings unbiased cannabis news coverage 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.
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.