Steep Hill Has Since Developed A Variety Of Revolutionary Cannabis Testing Products, Including Quantacann, Quantacann2 And Genkit.

Journalists and Bloggers logo BERKELEY, Calif., Nov. 9, 2015 /PRNewswire/ — Steep Hill, the industry leader in cannabis testing and http://www.newyorkmedmarijuana.com analytics in the US and internationally, announces that its current investment round which launched at a $10M pre-money valuation is set to expire no later than December 31, 2015 as Steep Hill receives strategic support and investments from institutional cannabis investors Delft Blue Horizons (Netherlands), Phyto Partners (Florida), and Poseidon Asset Management (California). Steep Hill also received an investment from Primex Clinical Laboratories, Inc., a prominent healthcare laboratory based in Southern California. These investors, coupled with other Accredited Investors, have recently brought approximately $2 million in new funding to Steep Hill, which will support expanded testing services in addition to new research and product development. Steep Hill is continuing to raise investment capital at the currently-established valuation, which represented a pre-money valuation of approximately $10 million at the beginning of the offering, for the remainder of 2015, and invites interested investors to meet management at The ArcView Group Investor Pitch Forum in Las Vegas on Monday, November 9th and Tuesday, November 10th. Tours at Steep Hill’s licensed facility in Las Vegas will also be offered on Wednesday, November 11th, by appointment. Please call 415-420-1573 for more information. Steep Hill believes the addition of strategic, institutional investors and the capital raised in the current offering position Steep Hill well to capitalize on the increase in sample volumes that are expected to result from the recently adopted Medical Marijuana Regulation and Safety Act of 2015 in California. That Act, when implemented, will establish a robust regulatory program in California for the first time since passage of medical marijuana laws in 1996. Included in these new regulations is the mandate that any and all products that are put into the stream of commerce as medical marijuana must first be tested by a 3rd party laboratory. California is currently estimated to represent more than 50% of the legal cannabis market in the US. “We are grateful for the confidence this very respected group of investors has placed in us and our work at Steep Hill,” said David Lampach, CEO and Co-Founder. “We believe the valuation of this round has been made more attractive to investors due to recent legislative changes in California, Washington State and New Mexico.” Morgan and Emily Paxhia, Founding Partners of Poseidon Asset Management said, “We have been deeply involved in making strategic cannabis investments in preparation for such milestones as the Medical Marijuana Regulation and Safety Act of 2015 and believe the best returns on investment will be those companies that are best positioned in advance of such enactment Steep Hill is one of those companies.” Jmichaele Keller, Delft Blue Horizons Managing Director commented, “We were fortunate to learn about Steep Hill at the ArcView Investors Conference in April, and our relationship has only deepened over the last several months as the opportunities for testing have exploded. We see exciting new product differentiation in the testing market in the near future.” Phyto Managing Partner Larry Schnurmacher remarked, “Phyto is focused on providing capital to entrepreneurs, startups and operating businesses in the cannabis market we believe that all roads lead through testing in a regulated market and Steep Hill is a cornerstone investment for us.” Primex Clinical Laboratories CEO Oshin Harootoonian said, “We recognize that the future of the legalized cannabis market in California is going to require top-notch quality assurance testing. After months of due diligence, we believe that Steep Hill is at the top of their field, and are true pioneers of the space. We look forward to working closely with them as the cannabis industry matures in California.” For more information about cannabis testing or investing in the company, please visit the Steep Hill website: http://steephill.com ABOUT STEEP HILL Founded in California in 2008, Steep Hill Labs, Inc. is a science and technology firm that has become the industry leader in cannabis testing and analytics. With labs in five statessoon to be six with Oregon launching in January 2016and a joint venture with the University of Technology in JamaicaSteep Hill is the largest cannabis lab network in the world. The company pioneered the first medical cannabis potency and microbiological contaminants testing methodology for use in Californiathe first state to legalize medical cannabis. Steep Hill has since developed a variety of revolutionary cannabis testing products, including QuantaCann, QuantaCann2 and GenKit. Steep Hill provides expert consulting services to many states, countries and municipalities, and the company is developing proprietary genetic testing, mapping and trademark protection services for the industry as well.

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