Calgary, Alberta--(Newsfile Corp. - September 5, 2018) - FluroTech Ltd. (TSXV: TEST), ("FluroTech" or the "Company"), has successfully completed the development of the test kits for THCa and CBDa. When used with the Company's flagship quality control and potency optimization testing device, the CompleTest™, accurate, reliable and consistent THCa and CBDa testing results can be achieved onsite within 15 minutes with this user friendly solution.
By having onsite cannabis testing, companies can save the time of shipping samples to the lab, improve the accuracy of labeling and cannabis sorting, pre-validate lab testing results, and optimize potency yield and cannabis curing techniques by testing the cannabis multiple times during the production process.
"FluroTech's science team has developed a straightforward testing protocol to accurately measure the concentrations of THCa and CBDa. Each test can be done with as little as 0.10 grams of cannabis," commented Dr. Elmar Prenner, Chief Technology Officer. "I am not aware of any other affordable technology that can achieve the same degree of accuracy without the use of trained lab technicians and relatively expensive lab equipment."
In preliminary data comparisons for the test for THCa and CBDa, the CompleTest™ results were very close to the results obtained for the same test sample by the current industry standard equipment, High Performance Liquid Chromatography or mass spectrometry. Unlike, the current testing equipment which often requires more data interpretation by scientists which may lead to cross-lab variability, CompleTest™ yielded the same test results on multiple test samples in a row.
The Company expects to obtain independent, third party validation of the THCa and CBDa test kits and the CompleTest™ device in the month of September and allow beta users to provide feedback prior to commercialization in late October.
"This milestone is significant for the Company. I believe that, it advances FluroTech from a research and development company to a position of achieving commercialization. In addition to the now completed heavy metals tests, the test for THCa and CBDa represents the completion of the second of seven prospective revenue streams the Company is actively developing" says CEO, Danny Dalla-Longa.
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 is 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.
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.
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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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