Signal Bay Signs Deal with Kodiak to Finance Growth


Thomas Mitchell

August 4th, 2015

News, Top News


[stockchart symbol=SGBY]

Signal Bay Inc. [stockquote symbol=SGBY], a provider of analytical testing, industry research, and management consulting for the cannabis industry, recently announced a new financing agreement with Kodiak Capital Group LLC. Under the terms of the agreement, the company will be able to sell shares to Kodiak at an agreed upon price to finance the continued development of its strategy to expand the analytical testing services to all states that offer legalized cannabis.

“We’re very excited to be partners with Kodiak and welcome their knowledge and investment with open arms to support our continued growth and expansion,” commented William Waldrop, Chief Executive Officer of Signal Bay. “Kodiak recognizes that our services offer best industry practices for licensing, operating, and expanding cannabis businesses.”

Kodiak is an institutional investor headquartered in Newport Beach, CA, that makes private investments in public and private entities utilizing proprietary equity and debt instruments. These investments provide long-term strategic capital to companies, enabling them to have a greater sense of certainty, flexibility, and consistency. The firm invests in a wide range of industries including alternative energy, consumer products, and social media.

Ben Esque, a member of Kodiak’s advisory board, added, “We look forward to adding Signal Bay to our budding cannabis portfolio and assisting them with their expansion throughout North America.”

The news comes shortly after the company launched its Cannabis Consultant Marketplace, designed to help organizations find vetted, industry experts for short-term projects and long-term engagements. Management estimates that the demand for expert consulting services in the cannabis industry could exceed $175 million in 2016, which creates a significant market opportunity for an Upwork-like solutions to finding experts.

Shares of Signal Bay Inc. were unchanged in early trading on Tuesday, August 4, 2015 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 Thomas Mitchell

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

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