FluroTech (TSXV:TEST), (“FluroTech” or the “Company”), is pleased to announce two recently-filed patent applications to which the Company holds exclusive, irrevocable rights for use in the cannabis industry. The patents include an international patent application filed October 31, 2018 pursuant to the Patent Cooperation Treaty (“PCT”), and a national phase entry filing of the PCT application at the United States Patent and Trademark Office (the “USPTO”) on November 2, 2018. The PCT application allows for protection of the intellectual property in 152 countries, while the application at the USPTO will accelerate substantive input from the USPTO. The patent applications protect features of FluroTech’s instrument that provide signal stability in the face of thermal and other fluctuations in the light source. These advances are utilized in the CompleTestTM device and roadside testing device resulting in unparalleled levels of sensitivity, signal stability and accuracy for portable instruments. Applications on other advanced designs for future generations of the device to maintain the Company’s technical lead are in progress.
“Our team has achieved a unique instrument design for unparalleled sensitivity and accuracy for a class of instruments that allows on-site cannabis testing and roadside testing without needing highly trained experts,” commented Dr. Elmar Prenner, Chief Technology Officer at FluroTech.
Additionally, efforts to patent an innovative approach to biomarking are well underway. The Company believes that biomarking will revolutionize identification of regulated commercial cannabis and allow direct product tracking from the grower to the end-user.
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. 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.
To learn more, visit www.FluroTech.com.
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Cautionary Statement Regarding Forward-Looking Information
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 patent protection, possible future patents and 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 cannabis industry in general, failure to achieve patent protection and failure to meet certain timelines for commercialization. The Company cautions that the foregoing list of material risk factors and assumptions is not exhaustive.
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