FinancialBuzz.com News Commentary
The cannabis market in the United States has experienced significant growth in recent years, driven largely by an increasingly favorable legal environment. Since Colorado and Washington first legalized recreational marijuana in 2012, numerous states have followed suit, with 23 states and the District of Columbia now allowing adult-use cannabis as of 2023. This trend has fueled a burgeoning industry, with legal cannabis sales reaching $24 billion in 2021, a sharp increase from the $8.5 billion reported in 2017. Analysts project that the U.S. cannabis market could surpass $45 billion by 2025, supported by ongoing state-level legalizations and potential federal reforms. This rapid growth highlights the expanding acceptance of cannabis and its economic potential, with more states considering legalization to boost tax revenues and create jobs. Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO), Abbott Laboratories (NYSE: ABT), Tilray Brands, Inc. (NASDAQ: TLRY), Canopy Growth Corporation (NASDAQ: CGC), Cronos Group Inc. (NASDAQ: CRON)
Despite the market's promising outlook, concerns about cannabis use, particularly regarding public safety, persist. One significant issue is the impact of cannabis on driving abilities. Research indicates that marijuana can impair motor skills, reaction times, and judgment, raising the risk of traffic accidents. This concern underscores the importance of developing and deploying marijuana breathalyzers. These devices, similar to alcohol breathalyzers, detect the presence of tetrahydrocannabinol (THC), the psychoactive component in cannabis, by measuring the amount of THC in a user's breath. By providing law enforcement and employers with a tool to assess recent cannabis use accurately, these breathalyzers can help prevent accidents and encourage more responsible consumption. Ensuring that drivers are not under the influence of cannabis is critical for maintaining road safety and reducing the potential negative impacts associated with increased cannabis availability.
Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO) just announced breaking news reports that, "early testing by Omega Laboratories Inc ("Omega Laboratories" or "Omega") with the Company's marijuana breathalyzer technology have garnered positive results. Omega has commenced pre-validation scoping work to establish limits of detection (LOD) and limits of quantification (LOQ) as well as the cutoff level for the detection of delta-9 THC (primary psychoactive ingredient in cannabis) in breath. Recently, Cannabix entered into a strategic partnership and development agreement with Omega Laboratories to advance the development and commercialization of the Cannabix marijuana breathalyzer technology. Omega Laboratories is an international industry leader in forensic drugs of abuse testing with multiple international certifications and accreditations.
Highlights:
- Omega scientists have established a delta-9 THC calibration curve with samples obtained from the Cannabix Breath Collection Unit (BCU) for the purposes of quantification using Omega's preexisting and well-established extraction and detection processes.
- Thus far, Omega scientists have been able to detect and quantify delta-9 THC in the low picogram range – a level of detection low enough for detecting drug compounds in breath.
- Omega scientists have consistently detected and quantified delta-9 THC from breath samples collected from subjects utilizing the Cannabix BCU.
- Omega scientists have developed a test method for a breath sample that successfully detects and differentiates between delta-9 THC, delta-8 THC, CBN and CBD. Cannabix and Omega have begun working together on multiple fronts including hardware refinement, marketing and preparing numerous validation studies.
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, highway patrol, court systems, military organizations, and school systems. Omega also has one of the largest Third-Party Administrator (TPA) client lists in America.
Rav Mlait, CEO of Cannabix stated, "We are off to a terrific start alongside Omega Laboratories. We are working together to help provide a comprehensive marijuana breath testing solution for employers, law enforcement and others. Public policy in the United States towards cannabis is garnering additional attention as we move closer to the U.S. presidential election later this year where cannabis legalization could become a hot topic. Recently the DEA proposed rules to reclassify cannabis from a schedule I to a schedule III substance, further bolstering our expectation that the demand for marijuana drug testing will continue to increase."
About Omega Laboratories, Inc.
Omega Laboratories, headquartered in Mogadore, Ohio with additional state-of-the-art facilities in Ontario and British Columbia, Canada provides laboratory-based advanced testing solutions to over 6,000 clients worldwide. Omega Laboratories has over 24 years of experience in pioneering innovative drug testing methodologies, specializing in the detection of drugs of abuse utilizing Hair, Oral Fluid and Urine. Omega continues to innovate with the launch of their Technical Solutions portfolio that incorporates a paperless online Custody & Control Form system (oCCF) in eight languages, licensure of a Laboratory Information Management System (LIMS) designed specifically for Toxicology and powers new laboratories in countries that have demand for local service providers."
Abbott Laboratories (NYSE: ABT) unveiled its roadside drug-screening device, SoToxa™ Mobile Test System, back in 2019. SoToxa is a handheld device for law enforcement that uses an oral fluid swab – inserted into the handheld analyzer – that alerts police within five minutes whether a driver has recently used marijuana or other drugs. Because it collects only a small amount of oral fluid, the device is easier to administer than blood or urine tests, making it significantly easier for law enforcement to conduct the tests at the roadside, or in a police cruiser. SoToxa is able to test for the presence of THC (the psychoactive component in marijuana), cocaine, opioids, amphetamine, methamphetamine, and benzodiazepines.
Tilray Brands, Inc. (NASDAQ: TLRY) announced this week that its Good Supply cannabis brand has released its updated lineup of flavourful 1G 510 vapes with phenomenal potency featuring a wide selection of the best flavours to choose from for 710 and beyond. Good Supply is committed to promoting sustainability and an eco-conscious approach with its latest vape and product offerings. Emphasizing its "Green You Can Feel Good About" mantra, Good Supply's biodegradable vape mouthpieces and hemp tube containers not only provide reliable and potent products, but also have a positive impact on the planet. By mindfully composting them in organic processing or landfill facilities, you can confidently contribute to a greener planet.
Canopy Growth Corporation (NASDAQ: CGC) announced earlier this year 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."
Cronos Group Inc. (NASDAQ: CRON) reported last month that its Spinach® brand is expanding its portfolio of award-winning and best-selling cannabis products just in time for the summer months. Summer innovations feature new flavors and formats from Cronos' SOURZ by Spinach® edibles and a premier milled flower product. The new SOURZ by Spinach® Fully Blasted gummies offer the same great-tasting SOURZ by Spinach® flavors, now with 10 mg of THC per piece. The SOURZ by Spinach® Tropical Party Pack introduces new gummies with bolder tropical flavors, in the distinctive Spinach® "S" shape. These gummies have a perfect blend of sour and sweet and utilize Cronos' proprietary flavor-masking technology. Additionally, the Spinach® brand will introduce Spinach Grindz™, milled flower options designed to be ready to use for joints or vaporizers. Ready-to-use milled flower offerings have grown in popularity in the Canadian cannabis market, appealing to value-conscious consumers seeking convenience. Spinach Grindz™ caters to this growing demand by providing high-quality, milled cannabis that saves time and effort, allowing consumers to enjoy a consistent and hassle-free cannabis experience.
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
View original content to download multimedia: 
View original content to download multimedia: 
View original content to download multimedia: 
View original content to download multimedia: 
View original content to download multimedia: 
View original content to download multimedia: 
View original content to download multimedia: 
View original content to download multimedia: 
View original content to download multimedia: 
View original content to download multimedia: 
View original content to download multimedia: