Cannabix Technologies Opens the Doors to Retail Investment
Ryan Allway
October 22nd, 2014
News, Top Story
[stockchart symbol=BLOZF]
Cannabix Technologies Inc. [stockquote symbol=BLOZF] (CSE: BLO), developer of the patent pending Cannabix Marijuana Breathalyzer for law enforcement and the workplace, recently announced that its stock became DTC eligible. By becoming DTC eligible, retail investors can quickly deposit and withdraw stock into brokerage accounts without the need for physical stock certificates.
The Depository Trust Company (“DTC”) is the largest securities depository in the world and holds more than $35 trillion worth of securities on deposit. Given its enormous size, most large U.S. broker dealers and banks are DTC participants, while some prevent non-DTC eligible securities from being bought or sold altogether due to the added complexity of dealing with physical stock certificates.
The move comes shortly after the company changed its name from West Point Resources to Cannabix Technologies and listed on the OTC stock exchange in the United States. All of these efforts have helped improve the stock’s accessibility for investors and could help increase liquidity over time, particularly as management draws closer to developing a functional prototype.
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. Management is initially targeting law enforcement agencies, which have struggled to enforce driving laws in states where marijuana has been legalized, along with workplaces.
Shares of Cannabix Technologies Inc. fell slightly on Wednesday, October 22, 2014 following the news release, but are trading up nearly 6% over the past five days.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
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