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DigiPath Signs Deal with MMJ Cultivator

Richard Battle

October 2nd, 2015

News, Top Story

[stockchart symbol=DIGP]

DigiPath Inc. [stockquote symbol=DIGP], a provider of cannabis testing services through its DigiPath Labs subsidiary, recently announced a one-year exclusive contract to test dried plant material for a local grower in Nevada.

“We’re now seeing the payoff for all our hard work of setting up a state-of-the art testing lab and validating testing equipment and procedures,” said CEO Todd Denkin. “We are getting an enthusiastic response from those in the cannabis sphere who want quick, reliable test results, and we anticipate accelerated growth as the Nevada cannabis industry expands.”

Since establishing regulations in 2014, Nevada’s medical marijuana program has been slowly picking up steam with three dispensaries open and another 52 certified by the Department of Public and Behavioral Health. The DPBH has also approved 182 licenses for cultivation and 118 for production, with laws requiring the testing of all medical cannabis flowers, edibles and extracts – creating an enormous opportunity for DigiPath Labs.

“We expect that the growth in the Nevada cannabis industry will be exponential over the next few years,” added Denkin. “And because Nevada has the strictest testing requirements in the country, everything will need to be tested before it reaches users. These regulations should make DigiPath Labs an essential player in the statewide cannabis community.”

DigiPath Labs completed its first cannabis tests in June of 2015 and has since signed a number of dispensaries and other clients. According to ArcView, the legal cannabis market grew from $1.5 billion in 2013 to $2.7 billion in 2014 – a 74% increase in just one year. The company operates one of only a handful of labs operating in Southern Nevada near Las Vegas – the largest market for the state that has reciprocity provisions built into its laws.

Shares of DigiPath Inc. rose were unchanged following the news release.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Richard Battle

Mr. Battle has over a decade of experience in the financial markets as both a private investor and financial journalist.

Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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