FluroTech (TSXV:TEST), (“FluroTech” or the “Company”), is pleased to announce that through the collaboration of nanoscientists, botanists and biochemists, it has demonstrated the proof of principle to specifically label cannabis oil in a manner that will allow fast, on-site identification of legal products using the CompleTest™ technology, economically and without the need for technical training. The Company’s research suggests that governments and licensed producers are looking for a reliable, accurate technology to improve on existing conventional seed to sale tracking to ensure cannabis supply chain security.
Conventional seed to sale tracking, which utilizes product packaging and labels to verify cannabis product, does not ensure the cannabis inside the packaging is from a legal source. FluroTech’s disruptive, safe and unique pharmaceutical grade biomarker technology, which is only available to legal cannabis producers, will be added to cannabis oil at the time of production creating a link between the packaging and the product until the time of consumption. This is the first phase of FluroTech’s development of a total seed to sale tracking solution.
“The Company has achieved an important milestone in commercializing its unique pharmaceutical grade biomarking technology and we are engaging in discussions with national and international industry stakeholders to ensure licensed producer brand protection and a reduction of illegal black-market product entering the legal system,” explained Dr. Elmar Prenner, Chief Technology Officer. “Other biomarker companies utilize relatively expensive DNA strands that can be labeled and deposited on the surface of cannabis products. In this process, often expensive and time consuming third-party laboratories must be engaged to validate the DNA strand. FluroTech’s pharmaceutical biomarker can be validated utilizing the portable or desktop CompleTest™ device.”
CompleTest™ is FluroTech’s flagship brand and product line. CompleTest™ is a portable, cost-effective, state-of- the-art cannabis testing device able to provide quick, accurate and consistent testing results. It’s designed for cultivators, dispensaries and anyone with a vested interest in consumer safety to test the quality and safety of their cannabis products and to optimize potency yield.
About FluroTech (TSXV: TEST)
FluroTech is a technology and marketing company whose core business is focused on the commercialization of new technologies in the cannabis industry. FluroTech‘s proprietary spectroscopy-based technology allows for the testing and identification of organic and inorganic compounds contained within biological samples derived from cannabis plants. Using the technology that was developed at the University of Calgary, in conjunction with the University of Alberta, FluroTech has developed a two-part solution comprising an instrument called the CompleTest™ and consumable testing kits.
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IR — Thesis Capital Inc.
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This news release contains “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer’s business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer’s prospective financial performance or financial position. The forward-looking information in this news release includes disclosure about the future performance of the Company.
The Company made certain material assumptions, including but not limited to prevailing market conditions and general business, economic, competitive, political and social uncertainties to develop the forward-looking information in this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to, adverse market conditions and regulatory and other risks associated with the medical cannabis industry in general. The Company cautions that the foregoing list of material risk factors and assumptions is not exhaustive.
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