Cannabix Technologies, Inc. (OTC Pink: BLOZF) is engaged in the research, development, and commercialization of marijuana breathalyzers for law enforcement and employers. The device searches for traces of THC, the psychoactive ingredient in cannabis. Shares of Cannabix Technologies, Inc. are soaring 29.54%, through afternoon trading on Monday, March 27, 2017. Over the past three months, Cannabix Technologies, Inc. has seen average daily volume of 223,048 shares. However, volume of 536,784 shares or dollar volume of $311,334, has already exchanged hands on Monday.
Shares of Cannabix Technologies, Inc. is surging Monday, after the company announced that its preliminary human subject testing of its marijuana breathalyzer showed strong results. The device was successfully able to detect THC within human breath, after test subjects smoked marijuana cigarettes. Here is the full press release detailing of the active testing results:
Cannabix Technologies, Inc. Press Release:
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Mar 27, 2017) – Cannabix Technologies, Inc. (CSE:BLO)(BLO.CN)(OTC PINK:BLOZF) (the “Company or Cannabix”) developer of the Cannabix Marijuana Breathalyzer for law enforcement and the workplace, is pleased to announce that preliminary human subject testing during the month of March have produced excellent results. Cannabix is developing its FAIMS- (field asymmetric waveform ion mobility spectrometry) based marijuana breathalyzer for the detection of delta-9-tetrahydrocannabinol (“THC”) in human breath. Testing using the Cannabix Marijuana Breathalyzer Beta prototype device with human subjects after smoking THC cigarettes demonstrated the successful detection of THC, the psychoactive component of marijuana, in real-time. In addition to THC, several metabolites were identified in the breath of the human subjects including 11-hydroxy-delta-9-tetrahydrocannabinol and delta-9-carboxy-tetrahydrocannabinol, and three other cannabinoids related to cannabigerol, were confirmed by mass spectrometry after the inhalation of cannabis.
The ability to detect THC and its metabolites in human breath is a significant scientific breakthrough that allows for real-time pharmacokinetic analysis. Such analysis provides a method for the identification of frequent users of marijuana who tend to retain THC in their body for longer periods of time, relative to infrequent marijuana users who tend to clear THC from their body more quickly.
The Company plans further testing with its Beta and Beta 2.0 prototypes over the coming weeks. The Company will be calibrating decay signal intensities with a refined breath collection component.
Dr. Bruce Goldberger, senior advisor to Cannabix, stated, “The Cannabix Marijuana Breathalyzer utilizing FAIMS will allow the Company to zero in on impairment with ‘recency of use’ like no other currently known device out there.”
Dr. Raj Attariwala, commented, “The high resolving power of the FAIMS device with its capability for real time detection of THC and its metabolic breakdown products will aid in establishing key metrics for measuring in-vivo THC metabolism and should permit detection capabilities similar to that of blood tests. The current human testing on of the FAIMS based Cannabix Marijuana Breathalyzer has shown impressive results thus far.”
Rav Mlait, CEO commented, “This testing marks a major milestone for the Company’s research and development of the FAIMS technology and will help guide the company in our goal in developing a device that can detect levels of THC in the blood and correlate this with the level of driver impairment.”
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.
We seek Safe Harbor.
On behalf of the Board of Directors
Cannabix Technologies, Inc.
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 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.