Calgary, Alberta--(Newsfile Corp. - October 23, 2018) - FluroTech Ltd. (TSXV: TEST), ("FluroTech" or the "Company"), a developer of a human saliva-based testing device designed to accurately measure concentrations of ∆9-tetrahydrocannabinol ("THC"), methamphetamines and cocaine, is pleased to report that it has achieved the proof of concept to specifically detect cocaine below the 50 ng/ml cut-off, as required for roadside testing by the Canadian Society of Forensic Science Drugs and Driving Committee ("DDC") for Drug Screening Equipment. The development team will continue to validate the cocaine test and prove concept for THC and methamphetamines prior to commercialization of the drug test kits. Once the drug test kits are complete, they can be modified for employee testing with the CompleTest™ devices that are currently in production.
"With recreational cannabis legalized, law enforcement agencies and drug recognition experts will be under the microscope to correctly identify drivers who are under the influence of any drug that impacts their ability to drive in a safe and responsible manner," said FluroTech CEO Danny Della-Longa. "Having a device to definitively, quickly and accurately measure various drug levels in saliva to assist the drug recognition experts is a benefit to all members of society. Adding the ability to detect methamphetamines and cocaine to the ability to detect THC on a parts per billion (ppb) basis will help keep the streets safe."
The design of the roadside testing device for the drugs required by the DDC is complete and prototyping is underway. The device was designed with the following goals:
Accurate testing in a wide range of ambient temperatures
Effectively suppresses background substrates
Limited wait time before commencing the testing process
Saliva swabs to be completed in under two minutes
Entire test to be completed in under 10 minutes
Ease of training of law enforcement personnel
The Company anticipates submitting an application in response to current requests for submissions of testing devices for consideration to the DDC in Q4 2018.
About FluroTech (TSXV: TEST)
FluroTech is a technology and marketing company whose core business is focused on the commercialization of new spectroscopy-based technologies for cannabis quality control testing and human saliva testing for ∆9-tetrahydrocannabinol, methamphetamines and cocaine to determine levels of impairment. 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.
Alistair Ross Technology Centre
Suite 111, 3553-31 Street NW
Calgary, AB T2L 2K7
Chief Executive Officer
IR — Thesis Capital Inc.
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 timing of submission its application for consideration to the Drugs and Driving Committee, timing to commercialization of the CompleTest™ device, the future performance of the Company and the effect of the October 17, 2018 legislation on demand for the Company's products.
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, failure to meet certain timelines for commercialization, failure to submit its application for consideration on time or at all, and failure to achieve the anticipated benefits of the October 17, 2018 legislation. The Company cautions that the foregoing list of material risk factors and assumptions is not exhaustive.
The Company assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.
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