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press release

Dec. 9, 2021, 8:51 a.m. EST

Cannabix Technologies To Present at Texas Impaired Driving Forum, Provides Corporate Update

Cannabix is developing Marijuana Breathalyzer devices to give law enforcement and employers a tool to enhance public safety

VANCOUVER, British Columbia, Dec 09, 2021 (GLOBE NEWSWIRE via COMTEX) -- VANCOUVER, British Columbia, Dec. 09, 2021 (GLOBE NEWSWIRE) -- Cannabix Technologies Inc. /zigman2/quotes/206089806/delayed CA:BLO -1.85% (otc pink:BLOZF) (the "Company" or "Cannabix"), developer of marijuana breathalyzer devices for law enforcement and the workplace, reports that it will be presenting at the Texas Impaired Driving Forum, held by Texas A&M Transportation Institute (TTI) in February. Cannabix's Dr. Jared Boock, Ph.D., will be presenting the Company's marijuana breathalyzer technologies and approaches at the Forum. The 2021 Texas Impaired Driving Forum attracted approximately 300 attendees from across the state of Texas. These traffic safety stakeholders specialize in fields such as prosecution, judicial review, probation, law enforcement, education/advocacy, prevention, treatment, and highway safety.

THCBA update

The Company reports that the version 4.0 THC Breath Analyzer ("THCBA") sensor apparatus for production is being bench tested with preliminary standardized testing showing that this updated design results in less than half of the standard deviation variability of the successful previous version 3.0 sensor. This updated sensor apparatus design and related hardware improvements have been developed incorporating feedback from beta-test users as well as planned design changes which have been prepared over the past months. Several components such as the device's internal sampling chambers, microfluidic sensors and related actuation mechanism have been simplified to minimize manufacturing variability and to reduce cost. The first fully assembled version 4.0 THCBA devices for human testing are on track for December - this will be followed by broad field testing and clinical testing to establish V4.0 benchmark standards.

The THCBA is a drug screening device for various markets who are seeking a way to quickly (in less than 5 minutes), easily and non-invasively test for recent use of D9-tetrahydrocannabinol ("THC") - the psychoactive component of marijuana that causes impairment. The THCBA consists of a handheld device and protective case which houses a sterilization module, sample preparation stage, device recovery station and integrated battery charging system.

Germany

Recently, the leaders of all three parties that make up the German coalition government entered into a four-year coalition agreement that sets out a commitment to "introduce the controlled distribution of cannabis to adults for recreation." With a population of over 83 million, Germany could be become one of the largest legal cannabis markets in the world. The Company reports that it has been in discussions with companies in Germany for the advancement of Cannabix marijuana breath testing tools and may allocate resources as necessary to take advantage of these opportunities.

Dr. Richard Yost

Dr. Richard Yost (Ph.D.) of the University of Florida (UF) has entered into a consulting agreement with the Company as well as maintaining his role as Senior Scientific Advisor in the area of FAIMS technology development. Dr. Yost is the winner of the Pittsburgh (Pittcon) Analytical Chemistry Award for 2021. Dr. Yost is widely recognized as a world leader in the field of mass spectrometry and analytical chemistry, most notably for his co-invention of the triple quadrupole mass spectrometer, which has revolutionized important measurements impacting human health and well-being in the fields of drug metabolism, pharmacokinetics, environmental studies, and biological analyses. The consulting agreement with Dr. Yost has been adopted, as the Company's research term with UF has ended.

About Cannabix Technologies Inc.

Cannabix Technologies Inc. is a developer of marijuana breathalyzer technologies for law enforcement and the workplace. Cannabix is working to develop drug-screening devices that will detect THC - the psychoactive component of marijuana that causes impairment - using breath samples. Breath testing for THC would allow employers and law enforcement to identify recent marijuana use that better aligns with impairment. Cannabix devices are in the advanced prototype and pre-clinical testing stage.

We seek Safe Harbor.

On behalf of the Board of Directors

"Rav Mlait"

CEO
Cannabix Technologies Inc.

For further information, contact the Company at info@cannabixtechnologies.com

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; (iv) the ability of the Company to develop and market its future product; and (v) 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 its development of marijuana breathalyzer technology will provide any benefit to the Company, and no assurance that any proposed new products will be built, will be successful in beta testing or clinical trials. 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.

COMTEX_398614338/2471/2021-12-09T08:50:47

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/zigman2/quotes/206089806/delayed
CA : Canadian Securities Exchange
$ 0.53
-0.01 -1.85%
Volume: 71,328
May 27, 2022 3:20p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$61.64 million
Rev. per Employee
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