VANCOUVER, British Columbia, Sept. 23, 2019 (GLOBE NEWSWIRE) — Cannabix Technologies Inc. (CSE: BLO) (OTC PINK: BLOZF) (the “Company or Cannabix”) developer of the Cannabix Marijuana Breathalyzer is pleased to report that the Company has entered into an exclusive license agreement with the University of British Columbia (“UBC”) to use and commercialize certain technology for the detection of volatile organic compounds for testing (to be used for marijuana breathalyzer purposes) owned by UBC developed by Dr. Mina Hoofar and her team of researchers at the UBC Okanagan School of Engineering. The patent pending UBC technology known as a “THC Breath Analyzer” (“THCBA”) incorporates highly sensitive microfluidic sensors that can be manufactured at relatively low cost. This exclusive technology license will allow for Cannabix to offer a complementary low-cost portable breathalyzer device that would be ideally suited for workplace, parental and personal use testing. Cannabix’s advanced “FAIMS” (field asymmetric waveform ion mobility spectrometry) based marijuana breathalyzer system will be primarily focussed on roadside testing with law enforcement and toxicology lab confirmation. UBC is developing the THCBA on an accelerated pace and Cannabix anticipates that a breathalyzer device is expected to be available for expanded testing this fall/winter. Significant development work has been accomplished on the THCBA by UBC and images of the of the THCBA portable device (under development) can be viewed at cannabixtechnologies.com (and are included in this press release).
The Company believes that the professional needs of law enforcement users (use at police stations and court acceptance) will likely differ from the needs of employers, and civilian users of such devices. Specificity of use, pricing, ruggedization, disposables and calibration requirements will all be factors in delivering multiple breathalyzer products that meet the needs of specific customers. The THCBA technology will offer a relatively low-cost alternative to the professional grade selectivity and sensitivity offered by the Cannabix FAIMS marijuana breathalyzer. Cannabix’s FAIMS device allows for mass spectrometry (MS) laboratory confirmation with its unique ability to couple directly to MS. With both devices being developed by Cannabix, the Company aims to significantly expand its potential base of customers for its products and services.
Rav Mlait, CEO of Cannabix stated, “We are extremely excited about this opportunity to add this complementary technology license to our product portfolio. The joint UBC-Cannabix collaboration on this low-cost marijuana breath testing technology will facilitate our strategy to better segment market opportunities with multiple devices. The marijuana breathalyzer technology universe is in its early stages, and it is strategically important for Cannabix to commercialize technologies that can bolster its ability to offer a range of products to meet the needs of different customer segments. We believe that diversifying our technology holdings will be important as regulators worldwide begin to understand the different types of cannabis breathalyzer/detection technologies that are emerging. We want to be well prepared to meet evolving evidentiary regulatory standards for drug breath testing technologies.”
Dr. Mina Hoofar stated, “It is always exciting to see our research, that originates on the Okanagan campus of UBC, extend to the next stage of development. We are thrilled that through this collaboration, devices will soon enter the market for self-monitoring and usage as a marijuana breathalyzer. This collaboration will bring our findings to market providing users with affordable, portable, fast and accurate devices. Collaborating with Cannabix means that we can leverage their expertise in marketing and implementation, bringing the THC Breath Analyzer one step closer to entering the market. We look forward to future collaborations with Cannabix as we continue to strive for innovation in the fields of micro-fluidics and bio-marker analysis.”
The Company also reports granting 2 million incentive stock options exercisable at $0.80 cents per share for five years to officers and directors and two years for consultants.
About Cannabix Technologies Inc.
Cannabix Technologies Inc. is a leader in marijuana breathalyzer development for law enforcement and the workplace. Cannabix has established breath testing technologies in the pursuit of bringing portable tools to market to enhance detection of marijuana impaired driving offences on roads at a time when marijuana is becoming legal in many jurisdictions globally. Cannabix is working to develop drug-testing devices that will detect THC- the psychoactive component of marijuana that causes intoxication- using breath samples. In particular, Cannabix is focused on developing breath testing devices for detection of recent use of THC, in contrast to urine testing for THC metabolite that requires an invasive collection and reflects usage, days or even weeks earlier. The devices will also be useful for other practical applications such as testing employees in the workplace where impairment by THC can be hazardous and for personal use testing.
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Cannabix Technologies Inc.
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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; (iv) the ability of the Company to develop and market its future product; and (v) 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.
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