Cannabix Technologies Inc.
CSE : BLO
OTC PINK : BLOZF
CSE : BLO.CN

Cannabix Technologies Inc.

October 04, 2016 08:00 ET

Cannabix Technologies is Well-Positioned to Capitalize on Anticipated Marijuana Legalization in Canada and United States

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 4, 2016) - Cannabix Technologies Inc. (CSE:BLO) (CSE:BLO.CN) (OTC PINK:BLOZF) (the "Company") Later this fall, voters in California, Arizona, Nevada, Maine and Massachusetts will decide whether marijuana should be legalized for recreational use. The Canadian Liberal government also recently announced plans to introduce legislation legalizing marijuana in the spring of 2017. The Canadian government has set up a Task Force on Marijuana Legalization and Regulation, chaired by the Honourable Anne McLellan and spearheaded by Mr. Bill Blair, MP, current Parliamentary Secretary to the Minister of Justice, to consult with experts across the country to learn how to best legalize and regulate marijuana.

More recently in Canada, the Liberal government has just wrapped up a several month feedback program asking Canadians about their opinions on marijuana legalization and how the government should enforce laws against those who operate outside the legal limits, such as marijuana impaired driving.

With the pending legalization of marijuana, law enforcement agencies across North America and the world are grappling with the issue of marijuana impaired driving. Law enforcement has done a commendable job in enforcing alcohol impaired driving in North America and society has also come to frown on alcohol impaired driving. Alcohol impaired driving is enforced with sophisticated breathalyzers that collect evidence of impairment and criminal charges have a high likelihood of resulting in conviction.

Unlike alcohol impaired driving, society is still unsure of how to address marijuana impaired driving and many jurisdictions and law enforcement agencies are trying to determine how best to administer the issue of "drugged driving".

In addition to marijuana impaired driving, employers are also concerned with employees that may be impaired by marijuana. These workplace issues could be particularly concerning when heavy machinery is involved and safety is paramount.

Cannabix Technologies Inc. is developing a point of care device that would be similar to alcohol breathalyzers and would be used at the roadside to collect evidence of marijuana impairment. This tool would also be useful in testing employees for on the job sobriety.

Cannabix Technologies' Marijuana Breathalyzer

Cannabix Technologies has been a first mover and leader in the development of a marijuana breathalyzer. The company debuted its most recent beta prototype in July. With a Field Asymmetric Ion Mobility Spectrometry (FAIMS) mass spec setup, the company is developing a tool that would be capable of accurately detecting THC concentrations at levels found in breath samples.

Cannabix Technologies' breathalyzer would determine whether someone has consumed THC within the two hours preceding the test. This test would be unlike saliva or urine testing which can result in positive tests days after consumption of THC. The Cannabix Breathalyzer would consequently provide a critical measure of "recency" to avoid implicating drivers that are no longer high.

Cannabix is in the final stages of completing its "Beta 2.0" device and expects to have a pilot test ready device for scientific trials for later this fall. The trial testing would be conducted to prove the accuracy and sensitivity of the Cannabix Breathalyzer, and the results would be used to apply for a court accepted device certification by the Minister of Justice in Canada and the National Highway and Traffic Safety Authority in the U.S.

Mr. Kal Malhi, President of Cannabix, stated, "Our generation is in the midst of a monumental shift in the legislation and societal views on marijuana use. Like the economic opportunity that alcohol legalization provided in the last century, impending marijuana legalization is providing an immense economic opportunity for investors in the marijuana sector."

We seek Safe Harbor.

On behalf of the Board of Directors

- Kal Malhi, President, 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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