VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/05/16 -- Cannabix Technologies Inc. (CSE: BLO) (OTC PINK: BLOZF) (the "Company") is pleased to announce that it has launched a new corporate video outlining its focus on developing a marijuana breathalyzer for law enforcement and the workplace. The new video can be viewed at www.cannabixtechnologies.com. The launch of the video comes on the heels of the Company announcing its licensing University of Florida US Patent 8,237,118 ("the Patent") in the area of breath analysis of controlled substances. The Company also announced a private placement where it intends to raise up to $1,000,000 via a non-brokered financing at $0.15 cents per unit. The proceeds of the financing will be used to develop a hand marijuana breathalyzer and related products.
Kal Malhi, President of Cannabix stated, " Drugged Driving is quickly replacing drunk driving as the leading cause of fatal collisions and law enforcement is in urgent need of a scientific tool to help enforce road safety from drug impaired drivers. Cannabix has been working with Dr. Rick Yost at the University of Florida and we have made immense progress in the development of a hand held marijuana breathalyzer. We recently exercised our option early on the patent license for FAIMS technology that will be the basis of our marijuana breathalyzer devices. We are in the process of filing intellectual property applications to protect products that will be developed based on this patent and FAIMS technology. We are also evaluating other technologies and collaborations that will further strengthen Cannabix's leading position in the field of a marijuana Breathalyzer and will provide updates as they occur."
For more information visit cannabixtechnologies.com
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 jurisdictions globally. Cannabix is working to develop drug-testing devices that will detect Tetrahydrocannabinol (THC- the psychoactive component of marijuana that causes intoxication) using breath samples. This technology would be used to provide detection of use of THC at the roadside to identify drivers intoxicated by the recent use of marijuana. In particular, Cannabix is focused on developing breath testing devices for THC detection that would target recent use of THC, in contrast to saliva or urine testing for THC which can be invasive and take considerable time for laboratory analysis. The devices will also be useful for other practical applications such as testing employees in the workplace where intoxication by THC can be hazardous.
We seek Safe Harbor.
On behalf of the Board of Directors
Rav Mlait, CEO
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; (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.
Cannabix Technologies Inc.