Breathalyzer Innovations Meet Rising Demand as Cannabis Market Booms

-

FinancialBuzz.com News Commentary

The breathalyzer market has experienced significant growth due to a heightened awareness of the dangers associated with impaired driving and the stringent enforcement of alcohol consumption laws globally. Breathalyzers are devices used to estimate blood alcohol content (BAC) from a breath sample. This market's demand is fueled by the need for effective, easy-to-use, and accurate devices that can be used by law enforcement agencies as well as individuals seeking to self-monitor their alcohol intake. Technological advancements in this sector include the development of more sophisticated sensor technologies, such as fuel cell sensors, which offer high accuracy and reliability. Additionally, connectivity enhancements have enabled the integration of breathalyzers with smartphones and other digital platforms, thereby expanding their usability and data management capabilities. These improvements not only support public safety initiatives but also help in personal health management and in legal environments, where precision in BAC readings is critical. Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO), Cronos Group Inc. (NASDAQ: CRON), Canopy Growth Corporation (NASDAQ: CGC), Tilray Brands, Inc. (NASDAQ: TLRY), Curaleaf Holdings, Inc. (OTC: CURLF).

The cannabis market intersects with the breathalyzer industry particularly as legalization trends increase across various regions. With the growing acceptance and legalization of cannabis for both medical and recreational use, there is an emerging demand for devices that can accurately measure impairment levels due to cannabis consumption. This need mirrors the demand dynamics seen in the alcohol breathalyzer market. Technological innovations are being directed towards developing breathalyzers that can accurately detect tetrahydrocannabinol (THC) — the psychoactive component in cannabis. As of the latest forecasts, top cannabis market researcher BDSA forecasts that the worldwide legal industry will hit USD 58 Billion in sales in 2028. This projected growth is driven by increasing legalization, the expansion of medical applications, and the burgeoning industry of cannabis-infused products.

Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO) just announced breaking news that, "It has entered into a strategic partnership and development agreement dated May 15, 2024 (the "Agreement") with Omega Laboratories Inc of Ohio, USA ("Omega Laboratories" or "Omega"). The Agreement provides a pathway for commercialization of Cannabix's marijuana breathalyzer technology."

Omega Laboratories is an international industry leader in forensic drugs of abuse testing for over twenty years. Omega has multiple federal as well as international certifications and accreditations for its world class facility and has extensive experience in novel technology for detection of drugs of abuse.

Pursuant to the Agreement, Cannabix and Omega Laboratories (together, the "Parties") have agreed to, among other things, complete research and development, refine and expand the use of Cannabix's technology to meet existing and emerging needs of Omega's clients, contemplate manufacturing and distribution and introduce the delta9 THC breath testing technology to customers in North America.

Omega Laboratories is headquartered in Ohio, USA in a state-of-the-art facility providing drugs of abuse testing to over 6,000 clients worldwide, including several Fortune 500 companies police and highway patrols, several court systems, military organizations, and school systems. Omega also has one of the largest Third-Party Administrator (TPA) client lists in America.

Bill Corl, CEO of Omega Laboratories, stated, "Our partnership with Cannabix Technologies underscores our commitment to staying at the forefront of advancements in drug testing technology. By incorporating their groundbreaking THC breathalyzer technology, we are poised to enhance the accuracy, efficiency, and accessibility of cannabis testing."

Rav Mlait, CEO of Cannabix stated, "This strategic partnership and development agreement with Omega Laboratories is a major inflection point for Cannabix Technologies. Cannabix, as an early-stage company, has been focused on technological innovation in breath analysis and we are truly excited to be working alongside Omega. Omega has tremendous people, expertise and capabilities in drug testing, regulatory, accreditation and business relationships globally."

Dr. Bruce Goldberger, Scientific Advisor to Cannabix, stated, "The strategic partnership with Omega Laboratories is an important step towards the adoption of this new and innovative technology in the workplace and traffic safety sectors."

Tilray Brands, Inc. (NASDAQ: TLRY) announced recently a new range of cannabis-infused beverages from XMG, under two of its sub-brands: XMG Zero and XMG Plus ("XMG+"). XMG Zero, an extension of XMG's original core line, now offers two new THC beverages: Cream Soda Zero and Orange Soda Zero. XMG+, a boosted version of XMG original, focuses on high CBG and guarana extract (for naturally occurring caffeine), while revealing their new Banana Brain Freeze and Iced Rocket Berry flavours. Recognized for their diverse offerings and unique profiles including a variety of THC and CBG ratios, XMG is reshaping the cannabis beverage market with unparalleled variety and quality.

Cronos Group Inc. (NASDAQ: CRON) reported recently its first entry into the chocolate edibles category. Cronos' newest edible innovation was developed and designed by an expert team of culinary chefs, food scientists, and leaders in cannabis product development. The bite-sized Chocolate Fusions™ feature a dynamic, multi-texture experience, combining a soft and chewy center, crunch inclusions, and an outer layer of rich creamy chocolate that delivers a decadent sweet treat for adult cannabis consumers. "We are thrilled to bolster the recent successful launch of the Lord Jones® brand in Canada with our first chocolate edibles," said Jeff Jacobson, Chief Growth Officer, Cronos. "These hand-crafted and artfully created chocolates demonstrate our passion for delivering a differentiated experience through an innovative cannabis product that our consumers will love. This breakthrough innovation is the result of our continuous commitment to and investment in R&D and product development, and we're excited to add Chocolate Fusions™ to our growing family of premium and THC-focused Lord Jones® products in Canada, which are designed to take adult consumers above and beyond."

Canopy Growth Corporation (NASDAQ: CGC) announced earlier in February the introduction of five new pre-roll products across the Company's adult-use cannabis portfolio from brands 7ACRES and Hiway. "Forging ahead with our commitment to innovation, we're excited to offer new pre-roll offerings that meet consumers across a range of occasions and price points," said Dave Paterson, President, Canada, Canopy Growth. "With convenience and enjoyment in mind, our new 7ACRES Smooth Burners offer a high-quality pre-roll with a unique filter design enabling a smooth and slow session, while our new Hiway Water Hash Infused pre-rolls provide consumers a premium experience in a value package."

Curaleaf Holdings, Inc. (OTCQX: CURLF) announced last month it has signed a deal to acquire Northern Green Canada ("NGC"), a vertically integrated Canadian licensed cannabis producer focused primarily on expanding in the international market through its EU-GMP certification. NGC also partners with Canadian GACP cultivators to produce and distribute finished cannabis products to both the domestic and global markets. NGC is one of the few Canadian cultivators with EU-GMP certification. As such, NGC has consistently supplied high THC, non-irradiated flower to the German market, which is expected to see exponential growth following the recent removal of cannabis from the narcotics list. NGC is also increasingly supplying Australia and New Zealand, the world's fastest-growing cannabis markets.

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For cannabix technologies inc. video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com

info@financialbuzz.com
+1-877-601-1879
www.FinancialBuzz.com

SOURCE FinancialBuzz.com