21:06:21 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Cannabix Technologies Inc
Symbol BLO
Shares Issued 63,174,278
Close 2016-02-05 C$ 0.185
Market Cap C$ 11,687,241
Recent Sedar Documents

Cannabix to use financing proceeds to make breathalyzer

2016-02-05 18:50 ET - News Release

Mr. Kal Malhi reports

CANNABIX TECHNOLOGIES LAUNCHES NEW CORPORATE VIDEO - MARIJUANA BREATHALYZER

Cannabix Technologies Inc. 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 on the company's website. The launch of the video comes on the heels of the company announcing its licensing of University of Florida U.S. patent 8,237,118 in the area of breath analysis of controlled substances. The company also announced a private placement through which it intends to raise up to $1-million via a non-brokered financing at 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 licence 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."

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