Cannabix Technologies Inc (OTCMKTS:BLOZF) and American Green Inc (OTCMKTS:ERBB) showed strong bullish momentum midweek, thanks to positive company updates.
Cannabix Technologies Inc (OTCMKTS:BLOZF) shares were up 8.19% to $0.696 on Wednesday and flat in after-hours trading. Share prices have been trading in a 52-week range of $0.08 to $0.81. The company has a market cap of $54.63.
Cannabix Technologies Inc is a leader in marijuana breathalyzer development for law enforcement and the workplace. It has established breath testing technologies in the pursuit of bringing durable, portable hand-held tools to market to enhance detection of marijuana impaired driving offences on roads at a time when marijuana is becoming legal in many global jurisdictions, such as Canada and the United States.
In particular, the company is developing drug-testing devices that will detect THC, which is the psychoactive component of marijuana that causes intoxication, using breath samples in contrast to urine testing for THC metabolite that requires an invasive collection and reflects use days or even weeks earlier. This will also be useful for other practical applications, such as testing employees in the workplace where intoxication by THC can be hazardous.
Cannabix Technologies Inc shared that a Canadian special task force report highlighted the need for THC detection in drivers now that legislation for marijuana legalization is looming.
We welcome the recommendations from the Task Force members which speaks to the urgent need to identify and approve a scientific tool to collect court approved evidence of marijuana impaired driving,” the press release stated. “Cannabix is developing its Cannabix Marijuana Breathalyzer to help law enforcement and employers to enhance detection of marijuana impaired driving offences on roads at a time when marijuana is becoming legal in various jurisdictions. The report confirms that marijuana impaired driving poses an increasing risk to the public and law enforcement needs a tool that can be used at the roadside to collect court admissible evidence of impairment at the time of the test. The report is concrete validation of the work we have been doing at Cannabix in developing our Cannabix Marijuana Breathalyzer and being a leader and early mover in this space.”
Cannabix Technologies Inc is currently developing a a rigorous trial with expedited ethics approval to begin detailed scientific trial testing of the Cannabix Marijuana Breathalyzer. This trial will compare the Cannabix Marijuana Breathalyzer utilizing breath samples with correlated blood samples, using guidance from Drugs and Driving Committee (DDC), which is an advisory body to the Canadian Department of Justice on issues relating to drug-impaired driving.
American Green Inc (OTCMKTS:ERBB) shares jumped 13.33% to $0.00170 and an additional 4.29% in after-hours trading. The company has a market cap of $15.40 million at 8.45 billion shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.01.
American Green Inc is a company that is engaged in the medical marijuana business by offering a line of products spanning from cultivation to tracking inventory for growers and dispensaries for medical marijuana. It also owns all of the rights to line of health supplements under the label OneBode and offers retailing, branding and commercial cultivating strategies in conjunction with its business with various licensed medical marijuana medical and retail dispensaries.
The company expects revenues for the first quarter of the new year should be in its best quarter to date, citing the BlazeNow arrangement and the resulting sales, orders for the American Green Machine, and the relaunching of its online store on Amazon Marketplace on Thursday. These stores will feature its proprietary line of cannabidiol products including American Green Infused Balm, Tincture designed primarily for humans, and peanut butter, blueberry or tuna treats for dogs and cats.
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