Cannabix Technologies is Well-Positioned to Capitalize on
Anticipated Marijuana Legalization in Canada and United States
Vancouver, British Columbia -- October 4, 2016 --
InvestorsHub NewsWire -- Cannabix Technologies Inc. (CSE:
BLO) (OTC
PINK: BLOZF) (the Company) Later this fall, voters in
California, Arizona, Nevada, Maine and Massachusetts will decide
whether marijuana should be legalized for recreational use. The
Canadian Liberal government also recently announced plans to
introduce legislation legalizing marijuana in the spring of 2017.
The Canadian government has set up a Task Force on Marijuana
Legalization and Regulation, chaired by the Honourable Anne
McLellan and spearheaded by Mr. Bill Blair, MP,
current Parliamentary Secretary to
the Minister of Justice, to consult with
experts across the country to learn how to best legalize and
regulate marijuana.
More recently in Canada, the Liberal government has just wrapped
up a several month feedback program asking Canadians about their
opinions on marijuana legalization and how the government should
enforce laws against those who operate outside the legal limits,
such as marijuana impaired driving.
With the pending legalization of marijuana, law enforcement
agencies across North America and the world are grappling with the
issue of marijuana impaired driving. Law enforcement has done a
commendable job in enforcing alcohol impaired driving in North
America and society has also come to frown on alcohol impaired
driving. Alcohol impaired driving is enforced with sophisticated
breathalyzers that collect evidence of impairment and criminal
charges have a high likelihood of resulting in conviction.
Unlike alcohol impaired driving, society is still unsure of how
to address marijuana impaired driving and many jurisdictions and
law enforcement agencies are trying to determine how best to
administer the issue of drugged driving.
In addition to marijuana impaired driving, employers are also
concerned with employees that may be impaired by marijuana. These
workplace issues could be particularly concerning when heavy
machinery is involved and safety is paramount.
Cannabix Technologies Inc. is developing a point of care device
that would be similar to alcohol breathalyzers and would be used at
the roadside to collect evidence of marijuana impairment. This tool
would also be useful in testing employees for on the job
sobriety.
Cannabix Technologies' Marijuana Breathalyzer
Cannabix Technologies has been a first mover and leader in the
development of a marijuana breathalyzer. The company debuted its
most recent beta prototype in July. With a Field Asymmetric Ion
Mobility Spectrometry (FAIMS) mass spec setup, the company is
developing a tool that would be capable of accurately detecting THC
concentrations at levels found in breath samples.
Cannabix Technologies breathalyzer would determine whether
someone has consumed THC within the two hours preceding the test.
This test would be unlike saliva or urine testing which can result
in positive tests days after consumption of THC. The Cannabix
Breathalyzer would consequently provide a critical measure of
recency to avoid implicating drivers that are no longer high.
Cannabix is in the final stages of completing its Beta 2.0
device and expects to have a pilot test ready device for scientific
trials for later this fall. The trial testing would be conducted to
prove the accuracy and sensitivity of the Cannabix Breathalyzer,
and the results would be used to apply for a court accepted device
certification by the Minister of Justice in Canada and the National
Highway and Traffic Safety Authority in the U.S.
Mr. Kal Malhi, President of Cannabix, stated, Our generation is
in the midst of a monumental shift in the legislation and societal
views on marijuana use. Like the economic opportunity that alcohol
legalization provided in the last century, impending marijuana
legalization is providing an immense economic opportunity for
investors in the marijuana sector.
We seek Safe Harbor.
On behalf of the Board of Directors
Kal Malhi
President
Cannabix Technologies Inc.
For further information, contact the Company at
info@cannabixtechnologies.com
The CSE has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
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 Companys 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.
7934 Government Road, Burnaby, B.C., V5A 2E2
Phone: (604) 551-7831 Fax: 604-676-2767
info@cannabixtechnologies.com
cannabixtechnologies.com