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Cannabix Technologies Inc
Symbol BLO
Shares Issued 105,124,104
Close 2021-01-11 C$ 0.94
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Cannabix gets U.S. patent for cannabis detection tech

2021-01-12 10:28 ET - News Release

Mr. Rav Mlait reports

CANNABIX TECHNOLOGIES GRANTED U.S. PATENT - CANNABIS DRUG DETECTION DEVICE

The United States Patent and Trademark Office (USPTO) has granted patent No. 14/689434, entitled "Cannabis Drug Detection Device," to Cannabix Technologies Inc. The company and its patent attorneys have been pursuing this patent application since its filing in 2014. Cannabix Technologies is on the forefront in research and development to create point-of-care breath-testing technologies for the detection of delta-tetrahydrocannabinol (THC) -- the psychoactive component of marijuana that causes impairment.

"The intellectual property protection this THC detection patent covers gives Cannabix a broad foundation to build upon in view of the formidable insights and technical advancements made in the field of molecular gas analysis at atmospheric pressure that we have developed since this patent was initially filed in 2014. Considering the field of breath detection of drugs is in its infancy, this patent is a useful step in our IP protection strategy," said Dr. Raj Attariwala.

In light of the granting of U.S. patent 14/689434, the company has undertaken a strategic review of its existing patent applications and will realign its portfolio by cancelling its second licence agreement with the University of Florida (UF) in relation to patent application 16/082,220. The company will continue with its original licence agreement with UF in relation to patent 8,237,118.

As a requirement under the licence agreement between the company and Cannabix Breathalyzer Inc. (a separate entity) entered into on June 5, 2014, the company will issue five million common shares to Cannabix Breathalyzer as a final milestone payment, triggered by the grant of patent 14/689434 by the USPTO.

About Cannabix Technologies Inc.

Cannabix Technologies is a leader in marijuana breathalyzer development for law enforcement and the workplace. Cannabix has established breath-testing technologies in the pursuit of bringing accurate, durable, portable tools to market to enable 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 usage, days or even weeks earlier. The devices will also be useful for other practical applications, such as testing employees in the workplace where impairment by THC can be hazardous.

We seek Safe Harbor.

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