Vancouver, British Columbia / ACCESSSWIRE / October 22, 2014 / Cannabix Technologies Inc. (CSE: BLO) (OTC PINK: BLOZF) (the "Company") common shares have been made eligible for book-entry delivery and depository services of the Depository Trust Company to facilitate electronic settlement of transfers of its common shares in the United States. DTC eligibility means that a public company's securities can be deposited through DTC. DTC is the largest securities depository in the world and holds over $35-trillion worth of securities on deposit.
Becoming DTC eligible provides Cannabix shareholders various benefits that include reducing the time for stock deposits and withdrawals into brokerage accounts while eliminating the inherent risks associated with the loss and replacement of physical stock certificates. Additionally, companies that are approved for DTC electronic transfers often experience higher trading volumes in their stock given the additional accessibility and availability of shares for trading. Most large U.S. broker dealers and banks are DTC participants.
About Cannabix Technologies Inc.
Cannabix Technologies Inc. is the developer of the patent pending Cannabix Marijuana Breathalyzer for law enforcement and the workplace. The Cannabix Marijuana Breathalyzer drug-impairment recognition system is based on breath testing technology that has been developed to test individuals for recent consumption of the THC component of marijuana. Cannabix Technologies Inc. is advancing its products to enable law enforcement personnel to use this technology to enhance detection of marijuana impaired driving offences on North American roads at a time when marijuana is becoming legal in various jurisdictions. Cannabix Technologies Inc. is working to develop the Cannabix Breathalyzer device that will detect Tetrahydrocannabinol (THC- the psychoactive component of marijuana that causes intoxication) using breath samples. The device will also be useful for other practical applications such as testing employees in the workplace where intoxication by THC can be hazardous.
We seek Safe Harbor.
On behalf of the Board of Directors
"Rav Mlait"
CEO
Cannabix Technologies Inc.
For further information, contact the Company's CEO, Rav Mlait 604-551-7831 email at [email protected]
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as final development of a commercial or prototype product(s), successful trial or pilot of company technologies, no assurance that commercial sales of any kind actually materialize; no assurance the Company will have sufficient funds to complete product development. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks regarding protection of proprietary technology; (iii) the ability of the Company to complete financings; (v) the ability of the Company to develop and market its future product; and (vi) risks regarding government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings. There is no assurance that the marijuana breathalyzer business will provide any benefit to the Company, and no assurance that any proposed new products will be built or proceed. There is no assurance that existing "patent pending" technologies licensed by the Company will receive patent status by regulatory authorities. The Company is not currently selling commercial breathalyzers. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
SOURCE: Cannabix Technologies Inc.