Cannabix Technologies Provides Update on Marijuana Breathalyzer and Spinout
For immediate release. Vancouver, British Columbia, March 2, 2015:Cannabix Technologies Inc.(CSE: BLO, OTC PINK: BLOZF) (the “Company”) is pleased to announce it has produced an Alpha version of the Cannabix Marijuana Breathalyzer prototype. Fabrication of prototype parts, creation of firmware, circuit boards, electronics and detection modules are all completed in the Alpha version. The Alpha version of the Cannabix Marijuana Breathalyzer has been developed in concert with KLN Klein Product Development Inc. of Vancouver, B.C.
The Company will now begin testing the device internally with medical marijuana users. In addition, the Company is continuing to work with consultants and scientists to maximize THC sensitivity, detection and reliability of the device for use as a roadside or workplace drug impairment tool.
Further modifications may be made to enhance a range of components that make up the device including optimization of THC detection levels, weather proofing, calibration methods and other features. After internal testing and development is complete with the Alpha prototype, the Company will look to release a Beta version for trial testing with external organizations. Trial testing externally (with independent agencies) will help determine reliability, functionality and accuracy of the device within a larger population of potential end users.
Kal Malhi, President of Cannabix Technologies stated, “We have initiated our internal testing of the Alpha version of the breathalyzer prototype. We are also excited to have commenced discussions with suitable organizations for trial testing.”
The Company reports that the British Columbia Supreme Court has granted final approval of the plan of arrangement to transfer 100% of the Monster Lake South gold property to Spinco (Torino Ventures Inc.). Further details with regards to a record date and closing of the plan of arrangement will be forthcoming.
About Cannabix Technologies Inc.
Cannabix Technologies Inc. is the developer of the patent pending Cannabix Marijuana Breathalyzer for law enforcement and the workplace. The Cannabix Marijuana Breathalyzer drug-impairment recognition system is based on breath testing technology that has been developed to test individuals for recent consumption of the THC component of marijuana. Cannabix is advancing its products to enable law enforcement personnel to use this technology to enhance detection of marijuana impaired driving offences on North American roads at a time when marijuana is becoming legal in many jurisdictions. Cannabix is working to develop a drug-testing device that will detect Tetrahydrocannabinol (THC- the psychoactive component of marijuana that causes intoxication) using breath samples. The device would be used to provide detection of THC at the roadside to identify drivers intoxicated by the recent use of marijuana. The device will also be useful for other practical applications such as testing employees in the workplace where intoxication by THC can be hazardous. The device is currently in prototype development and the Company is rapidly developing this technology.
We seek Safe Harbor.
On behalf of the Board of Directors
“Rav Mlait”
CEO
Cannabix Technologies Inc.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as final development of a commercial or prototype product(s), successful trial or pilot of company technologies, no assurance that commercial sales of any kind actually materialize; no assurance the Company will have sufficient funds to complete product development. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks regarding protection of proprietary technology; (iii) the ability of the Company to complete financings; (v) the ability of the Company to develop and market its future product; and (vi) risks regarding government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings. There is no assurance that the marijuana breathalyzer business will provide any benefit to the Company, and no assurance that any proposed new products will be built or proceed. There is no assurance that existing “patent pending” technologies licensed by the Company will receive patent status by regulatory authorities. The Company is not currently selling commercial breathalyzers. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
Neither CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Contact
For additional information on Cannabix Technologies Inc. please visit our website at http://www.cannabixtechnologies.com or email info@cannabixtechnologies.com
