FLUROTECH PROVIDES BIOTRACKER UPDATE AND PROPOSES UNIQUE SOLUTION TO ASCERTAIN LEGAL FROM ILLICIT VAPE CARTRIDGES
October 02 2019 - 9:20AM
InvestorsHub Cannabis NewsWire
FLUROTECH PROVIDES
BIOTRACKER UPDATE AND PROPOSES UNIQUE SOLUTION TO ASCERTAIN LEGAL
FROM ILLICIT VAPE CARTRIDGES
Calgary, Alberta
-- October 2, 2019 -- InvestorsHub NewsWire
-- FluroTech Ltd. (TSX-V: TEST) (OTCQB: FLURF),
(“FluroTech” or the “Company”),
an aspiring leader in analytical cannabis and hemp testing
technologies, announces that, in order to test the performance of
its biotracker technology outside of the laboratory, company
scientists introduced the technology to numerous hemp plants in its
outdoor beta testing sites. The plants from the beta testing sites
have now been harvested and FluroTech is pleased to announce that
initial results appear to show that the harvested plants’ root
systems did take up the biotrackers and dispersed throughout the
plant.
The Company is excited by these initial preliminary results and
believes that its biotracker technology, once it is ready for
commercialization, has the potential to address several issues
facing the cannabis industry today, provided that it continues to
perform as currently anticipated by the Company. For example,
such technology may be applied to specifically label extract in
vape cartridges to allow government officials and intermediaries
along the supply chain to identify legally produced vape cartridges
from those produced illegally. This is particularly relevant in the
current market, given the recent negative publicity surrounding
illness and deaths from vaping, which may be caused by illicit
cannabis vape cartridges containing various contaminants.
In addition, notwithstanding manufacturers’ best efforts, FluroTech
notes that there are still some vulnerabilities in the supply chain
where illegal product could enter the legal system, for example by
employing forged packaging. The use of a biotracker, introduced
into the flower and then carried through the extraction process
into the extract, may be a potential solution to this
vulnerability, as the biotracker could then be verified using the
Company’s CompleTestTM process.
“FluroTech is continually exploring unique ideas to solve issues
plaguing current seed-to-sale in this nascent industry. Our primary
goal is to help the legal participants in the cannabis and hemp
industry differentiate their product from that produced in the
illicit market,” stated Danny Dalla-Longa, Chief Executive Officer
at FluroTech. “The FluroTech development team continues to progress
its biotracker technology as the Company continues to explore
partnerships to effectively scale the technology, which could
ultimately allow for validation along the entire supply
chain.”
About FluroTech (TSX-V: TEST) (OTCQB: FLURF)
FluroTech is a technology and marketing company whose
core business is focused on the commercialization of new
technologies in the cannabis industry. FluroTech’s proprietary
spectroscopy-based technology allows for the testing and
identification of organic and inorganic compounds contained within
biological samples. Using the technology that was developed at the
University of Calgary, FluroTech has developed a two-part solution
comprising an instrument called the CompleTest™ and consumable testing kits.
To learn more, visit www.FluroTech.com
Contact Information
Danny Dalla-Longa
Chief Executive Officer
403.680.0644
danny@flurotech.com
FluroTech Ltd.
Alistair Ross Technology Centre
Suite 111, 3553-31 Street NW
Calgary, AB T2L 2K7
info@flurotech.com
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities. The
securities described herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended, or the securities laws of any state and may not be offered
or sold within the United States or to or for the benefit or
account of U.S. persons, absent such registration or an applicable
exemption from such registration requirements.
Cautionary Statement Regarding Forward-Looking
Information
This news release contains
"forward-looking information" within the meaning of Canadian
securities legislation. Forward-looking information generally
refers to information about an issuer’s business, capital,
technology or operations that is prospective in nature, and
includes future-oriented financial information about the issuer’s
prospective financial performance or financial position. The
forward-looking information in this news release includes
disclosure about the commercialization of the Company’s biotracker
technology and timing thereof, the potential uses of the biotracker
technology and the benefits thereof and the anticipated performance
of the Company’s biotracker and CompleTestTM technologies.
The Company made certain material assumptions, including but not
limited to prevailing market conditions and general business,
economic, competitive, political and social uncertainties, the need
and demand for the CompleTestTM and biotracker technology in the
cannabis and hemp industry and the potential uses of the biotracker
technology, to develop the forward-looking information in this news
release. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements.
Actual results may vary from the forward-looking information in
this news release due to certain material risk factors. These risk
factors include, but are not limited to, adverse market conditions
and regulatory and other risks associated with the cannabis and
hemp industries in general, users of the Company’s the CompleTest™
failing to achieve the anticipated benefits of the product,
competition from other developers of similar technology , failure
to reach commercialization of the technology and failure for the
products anticipated market to develop. The Company cautions that
the foregoing list of material risk factors and assumptions is not
exhaustive.
The Company assumes no obligation to update or revise the
forward-looking information in this news release, unless it is
required to do so under Canadian securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy of this
release.
Source: FluroTech
Ltd.
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