Digipath terminates LOI to acquire C3 Labs, expects full recovery of $1M loan via equipment liquidation

Hypha Labs, Inc.

Terminated letter of intent with Evio, Inc. to acquire controlling interest in C3 Labs, a cannabis testing lab in Berkeley, CA.
Had advanced approximately $1,000,000 in secured loans to C3 Labs prior to termination.
Company is in possession of C3 Labs equipment and is in the process of liquidating it.
Anticipates liquidation proceeds will be sufficient to repay all amounts owed by C3 Labs in full.

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