CannaSafe, an ISO-accredited cannabis testing laboratory that services roughly 30% of the California cannabis market, announced Wednesday that Aaron Riley, the company's former president, has been named CEO.
The news follows a 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 Los Angeles, with a new 25,000 square-foot headquarters.
Additionally, CannaSafe announced it will be opening new testing labs in Oregon, Florida, and Illinois. They're expected to be operational between the second and third financial quarters.
With cannabis businesses deemed essential in certain markets, 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.
“Even in this chaotic COVID-19 era where we’re seeing a resurgence of the illicit market, we’re continuing our strong focus on consumer safety through awareness and education—and by ensuring that our lab remains open to support essential businesses who are working hard to produce safe cannabis, hemp, and CBD products for patients and users,” Riley told Benzinga.
“We have received many inquires and requests to bring our lab services to other states. By expanding our lab network across the country, we aim to bring the same strict quality standards and deeply-rooted core values we practice in California to each location, and will leverage our growth to support the legal cannabis and hemp movement worldwide.”
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Photo courtesy of CannaSafe.