FluroTech Accelerates Development of Its Saliva Based Roadside Testing Device and Applauds Canada’s Leadership Role in Ensuring Road Safety
FluroTech (TSXV:TEST), (“FluroTech” or the “Company”), applauds the steps Canada is taking to address issues of impaired driving while under the influence of drugs. The Company believes it’s important that law enforcement has adequate tools in place to help accurately and efficiently determine drug concentrations in saliva, such as THC, cocaine and methamphetamines, which can be used as an indicator of impairment.
FluroTech is accelerating the development of its roadside testing device, which utilizes its validated proprietary spectroscopy-based technology. The roadside testing device is expected to meet all the Canadian government requirements and address many of the issues that exist in the current roadside testing devices for drugs on the market.
The development goals of FluroTech’s roadside testing device for drugs will include:
- Accurate testing in a wide range of ambient temperatures
- Effectively suppressing background substrates
- Very limited wait time before commencing the testing process
- Saliva swabs complete in under two minutes
- Entire test complete in under 10 minutes
- Ease of training law enforcement and ease of use in the field
“Based upon the other successful tests designed for cannabis, the Company believes its device test results will have a high level of accuracy and reliability,” commented Dr. Elmar Prenner, Chief Technology Officer with FluroTech. “Our development team is benefiting from the feedback from government officials and law enforcement who have detailed the issues with the devices they have tested.”
The Company anticipates submitting the application responding to current requests for submissions of testing devices for consideration to the Drugs and Driving Committee of Canada in the fall of 2018.
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 in conjunction with the University of Alberta, FluroTech has developed a two-part solution comprising an instrument called the CompleTest™ and consumable testing kits.
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IR – Thesis Capital Inc.
Figure 1: FluroTech Logo
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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, 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 future performance of the Company.
The Company made certain material assumptions, including but not limited to prevailing market conditions and general business, economic, competitive, political and social uncertainties 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 medical cannabis industry in general. 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.
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).