Cannabix Technologies, Inc. (OTC Pink: BLOZF) is engaged within the research and development of a cannabis breathalyzer for law enforcement and corporations. Shares of the cannabis breathalyzer developer are climbing 17.78%, through early trading on Tuesday, November 7, 2017. Over the past month, Cannabix Technologies, Inc. has seen average daily volume of 42,360 shares. However, volume of 460,350 shares or dollar volume of $250,614, has already exchanged hands on the day.
Shares of Cannabix Technologies, Inc. are rallying today, after the company announced it has filed several Patent Cooperation Treaty applications related to its ignition interlock cannabis breathalyzer. The company is also pleased to announce that its current cannabis breathalyzer model is in “beta 3.0” development and is 95% complete. Furthermore, management says the company plans to begin rigorous testing once next stage of development is completed. Here is the full press release detailing of the patent application filings:
Cannabix Technologies, Inc. Press Release:
VANCOUVER, British Columbia, Nov. 07, 2017 (GLOBE NEWSWIRE) — Cannabix Technologies, Inc. (CSE:BLO) (OTC PINK:BLOZF) (the “Company or Cannabix”) developer of the Cannabix Marijuana Breathalyzer for law enforcement and the workplace, is pleased to report that it has filed several Patent Cooperation Treaty (“PCT”) applications related to product development innovations over the last several months. Some of the PCT applications are for a marijuana focused Ignition Interlock device. An Ignition Interlock Device (“IID”) requires a driver to blow into an installed device confirming the driver is not impaired before the vehicle will start. Many countries are requiring an IID as a condition for drivers convicted of driving under the influence of alcohol and drugs, especially repeat offenders.
Courts typically mandate drivers who have received multiple alcohol impaired driving convictions to install IIDs and drivers are required to provide a breath sample before a vehicle can be started, in addition to intermittent re-sampling during longer trips. In the U.S. and Canada, most states and provinces have approved some form of IID use. Additionally, families are voluntarily choosing to install ignition interlock systems in their vehicles to help guard against new or young drivers from driving under the influence of alcohol and drugs.
The Company is also pleased to report development of its “Beta 3.0” (Cannabix Marijuana Breathalyzer) device based on its FAIMS- (field asymmetric waveform ion mobility spectrometry) is 95% complete and the company will commence testing with this latest device shortly. The Company has ramped up development efforts with its Beta devices and has made several technological improvements for field use. These include adding a feedback loop to the dielectric barrier discharge (“DBD”) ion source which allows a shorter time to stable ionization with a conventional battery source resulting in a quicker start-up time. Furthermore, a specialized breath temperature stabilizing component, that maintains consistent breath temperature in cold as well as humid temperature settings, has been tested and is performing well. The device includes a new and improved, low power highly sensitive “detector” component.
CEO Rav Mlait states, “Cannabix Technologies continues to receive considerable interest from government and law enforcement for the development of its point of care Cannabix Marijuana Breathalyzer. Our team of scientists in Vancouver and Florida are working methodically and rapidly to develop this device for the public. We are excited to have made applications to initiate IP protection of our marijuana focussed Ignition Interlock system.”
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 durable, portable hand-held tools to market to enhance detection of marijuana impaired driving offences on roads at a time when marijuana is becoming legal in many global jurisdictions. 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 use days or even weeks earlier. The devices will also be useful for other practical applications such as testing employees in the workplace where intoxication by THC can be hazardous.
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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.