Cannabix Technologies Inc.
CSE : BLO
OTC PINK : BLOZF

Cannabix Technologies Inc.

September 16, 2016 12:38 ET

Cannabix Technologies Completes Definitive License Agreement for University of Florida Patent for Development of Marijuana Breathalyzer and Provides Update

Cannabix Hand-Held THC Marijuana Breathalyzer is Being Developed to Give Law Enforcement and Employers the Ability to Test for Recent Consumption of the THC Component of Marijuana

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 16, 2016) - Cannabix Technologies Inc. (CSE:BLO)(OTC PINK:BLOZF) (the "Company") is pleased to report it has entered into a definitive license agreement with the University of Florida ("the University") for US Patent 8,237,118 ("the Patent"). Earlier this year, the Company announced its intention to exercise its option for the patent. The agreement provides Cannabix exclusive worldwide rights in the area of breath analysis of controlled substances. Cannabix and University researchers are developing an innovative FAIMS (field asymmetric waveform ion mobility spectrometry) based instrument for the detection of ∆9-tetrahydrocannabinol ("THC") in human breath. In consideration for the patent license, the Company has issued 603,870 common shares to the University.

The Company also reports that development of the Cannabix Marijuana Breathalyzer prototype for the detection of trace amounts of THC, is progressing well and expected to be completed by late fall 2016. In July, the Company announced the development of its "Beta 1.0" bench-top device with a proprietary configurable high voltage power supply which operates on conventional power sources. All components in the "Beta 2.0" bench-top device have been reduced in size even further, some as much as 5X. The Beta 2.0 device will also deliver greater sensitivity. The company expects to have a pilot test ready device for scientific trials for later this fall, while the company continues to develop its Beta 3.0 version which will be a completely portable handheld device.

Scientific trial protocols for testing will be developed with the assistance of Cannabix Scientific Advisors Drs. Marilyn Huestis and Bruce Goldberger and in accordance with the requirements in Canada of the Minster of Justice in Canada and the National Highway Traffic Safety Administration in the United States. The trials will consist of live breath testing utilizing medicinal marijuana users in correlation with blood THC testing to assess the accuracy of the breath test device and its sensitivity and specificity.

Kal Malhi, President of Cannabix stated, "Cannabix is a leader in the development of a hand held marijuana breathalyzer and we are fortunate to have the guidance of Drs. Huestis and Goldberger as we move towards scientific field trials of our device. Both are a vital part in helping Cannabix to move towards this milestone and get closer to delivering a highly accurate and court accepted evidence gathering tool that law enforcement can use to enforce marijuana impaired driving."

About Professor Dr. Dr. (h.c.) Marilyn A. Huestis

Professor Marilyn Huestis is an advisor to Cannabix Technologies and is one of the world's foremost experts on the effects of marijuana use on driving impairment. She is a sought after international speaker, scholar and scientist, and the author of 426 manuscripts based on her research on cannabinoid agonists and antagonists, effects of in utero drug exposure and the neurobiology and pharmacokinetics of novel psychoactive substances. Professor Huestis was a tenured Senior Investigator and Chief of Chemistry and Drug Metabolism at the National Institute on Drug Abuse (NIDA) (retired in 2016). She is an Adjunct Professor at the University of Maryland School of Medicine. Professor Huestis received her Bachelor's degree in Biochemistry from Mount Holyoke College, a Master's in Clinical Chemistry from the University of New Mexico, and a Ph.D. in Toxicology from the University of Maryland Baltimore. Professor Huestis received a Doctor Honoris Causa in Medicine and Surgery from the Faculty of Medicine, University of Helsinki in Finland in 2010. Other important awards include 2016 Marian W. Fischman Lectureship Award from the College on Problems of Drug Dependence, 2016 Saferstein Memorial Distinguished Lecturer at Northeastern University, Excellence in Scientific Research, Women Scientist Advisory NIDA Investigator Award 2015, Norman P. Kubasik Lectureship Award, AACC, Distinguished Fellow Award from the American Academy of Forensic Sciences (AAFS) in 2015, The International Association of Forensic Toxicologists (TIAFT) Alan Curry Award in 2010, the American Association for Clinical Chemistry Outstanding Contributions in a Selected Area of Research Award in 2008, the International Association of Therapeutic Drug Monitoring and Clinical Toxicology (IATDMCT) Irving Sunshine Award in 2007, the AAFS Rolla N. Harger Award in 2005, and the Irving Sunshine Award for Outstanding Research in Forensic Toxicology in 1992. The journal Clinical Chemistry featured her as an "Inspiring Mind". She currently serves on the National Commission on Forensic Sciences, and the Organization of Scientific Area Committee on Toxicology, World Anti-doping Agency's Prohibited List Committee, Transportation Research Board Committee on Alcohol and Other Drugs, and the National Safety Council's Alcohol, Drugs and Impairment Division Executive Board. Professor Huestis is past president of the Society of Forensic Toxicologists, past Chair of the Toxicology Section of the American Academy of Forensic Sciences, and the first woman president of The International Association of Forensic Toxicologists.

About Dr. Bruce Goldberger

Dr. Bruce Goldberger is a Professor and the Chief of the Division of Forensic Medicine in the Department of Pathology, Immunology and Laboratory Medicine in the College of Medicine at the University of Florida in Gainesville, Florida. Dr. Goldberger is the Technical and Administrative Director of the Forensic Toxicology Laboratory at the University of Florida which provides toxicological services to Medical Examiner Offices and State and local law enforcement agencies throughout the State of Florida. Dr. Goldberger has been qualified as an expert witness more than 300 times in forensic toxicology in Federal, State, Military and Canadian courts of law.

Dr. Goldberger is the editor-in-chief of the Journal of Analytical Toxicology. Dr. Goldberger is a past-President of the American Academy of Forensic Sciences, the President of the American Board of Forensic Toxicology, the Vice President of the Society of Forensic Toxicologists, and the Treasurer of the Forensic Specialties Accreditation Board.

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 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 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

Rav Mlait, CEO

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; (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.

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