Steep Hill Labs, a prominent marijuana testing company, has severed all contracts with New Jersey-based Pazoo, which had struck a deal to operate Steep Hill-branded cannabis testing labs in Colorado, Nevada and Oregon.
In a press release, Steep Hill said the relationship was ended because Pazoo – a New Jersey-based testing lab and wellness company – and its subsidiaries failed to “meet their contractual obligations.” California-based Steep Hill didn’t specify what obligations weren’t met.
“We have become more selective with whom we choose to partner, and we are excited about a new beginning in these states,” Steep Hill said in the release.
Pazoo, which trades on the over-the-counter “Pink Sheets” market under the ticker symbol PZOO, said in a statement it has been involved in “ongoing contractual disputes” with Steep Hill for “an extended period of time.”
At the heart of the matter, it said, were “non-deliverables” involving “financial, technological and service support.” The company said more information would be released in the future.
Pazoo signaled its intent to continue in the cannabis testing business without any ties to Steep Hill, saying “the future outlook is stronger than ever.”