Marijuana Legalization Drives Demand for THC Breathalyzer
Ryan Allway
September 19th, 2016
News, Top Story
The North American cannabis industry is likely to see tremendous growth over the next year. In Canada, Justin Trudeau’s Liberal Party is expected to make good on its campaign promises and legalize recreational marijuana in the spring of 2017. In the United States, the November 2016 election cycle includes California’s Proposition 64 that would legalize marijuana for adult recreational use in California – by far the largest U.S. market for the drug.
Existing medical and recreational marijuana sales have also been on the rise. In Colorado, legal marijuana sales grew more than 40% to nearly $1 billion last year. These revenues generated more than $135 million in tax income that was diverted to schools and other public projects – a strong incentive for other states to legalize the drug. In Canada, a number of licensed producers under the MMPR have reported strong medical marijuana revenue.
Lawmakers and public services have struggled to keep up with this rapid growth and could soon face mounting problems next year. Colorado lawmakers struggled to keep contaminated product off the shelves earlier this year, which has created demand for stronger testing requirements for growers and producers. Police have also been struggling with the enforcement of impaired driving given the lack of reliable testing equipment.
Impaired Driving
Most people are aware that drunk drivers are at an increased risk of accidents, with crash risk doubling at blood alcohol levels of between 0.05% and 0.085%. These risks increase 150-fold with a blood alcohol level of greater than 0.24%. In contrast, relatively few people realize that cannabis is the second most widely used impairing drug in the world after alcohol. Many cannabis users do not believe that the drug impairs driving despite mounting evidence.
In Washington State, fatal crashes involving drivers who recently used marijuana doubled after the state legalized the drug, according to the AAA Foundation for Traffic Safety. The group examined drug tests and fatal crashes among drivers in the state and found that the percentage of drivers involved in fatal crashes who recently used marijuana more than doubled from 8% to 17% between 2013 and 2014 – 1-in-6 drivers involved in fatal crashes in 2014 tested positive.
The problem is that there is no way for law enforcement professionals to accurately measure THC levels in the same way that they can test for alcohol. Rather than a simple roadside test, officers must take suspects into custody and arrange for a blood test to determine THC levels. These tests are both invasive for the suspects and difficult for officers to implement, since they must show probable cause before taking such actions.
Cannabix Solution
Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO) has been a first mover in the development of a marijuana breathalyzer and continues to be a leader in the space. The company debuted its most recent beta in July – a standalone desktop sized device with a proprietary power supply that operates at ¼ the size and 1/10 the power requirements of the alpha version. With a Field Asymmetric Ion Mobility Spectrometry (FAIMS) mass spec setup, the system is capable of accurately detecting THC concentrations. Cannabix is now completing its “Beta 2.0” device that will have been reduced in size even further, as much as 5X. The Beta 2.0 device will also deliver greater sensitivity. The company expects to have a pilot test ready device for scientific trials for later this fall, while the company continues to develop its Beta 3.0 version that will be a completely portable handheld device.
Kal Malhi, President, recently commented, “Cannabix is moving quickly towards launching our FAIMS-based Cannabix Marijuana Breathalyzer and completing external testing. With up to nine states in the US voting on marijuana legalization measures this fall, the need for a marijuana breathalyzer is becoming ever critical and we believe our timing for external testing of the Cannabix Marijuana Breathalyzer will coincide with further states legalizing marijuana.”
Many other first-movers in the cannabis industry have built sizable valuations in the public markets, including GW Pharmaceuticals plc (NASDAQ: GWPH) and MedBox Inc. (OTC: MDBX). Investors have a unique opportunity to get involved with the company on the ground floor as it prepares to commercialize its breakthrough technology. The rapid growth in the marijuana industry has created sizable demand for a viable solution to the impairment problem.
For more information, visit the company’s website at www.cannabixtechnologies.com.
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.
Search CannabisFN
Press Coverage
Psychedelics Index
Top Videos
Matt Hawkins is the founder and managing principal of Cresco Capital Partners, LLC (“Cresco”), a private equity firm focused specifically on investing in the legalized cannabis industry. Since its inception in the summer of 2015, Cresco has made 14 investments out of its first fund and is currently raising this fund, Fund II. Prior to the […]
Tom Zuber is Zuber Lawler & Del Duca’s Managing Partner. He has a degree with highest honors in biomedical engineering and has advised some of the most iconic companies in the world on their patent and trademark portfolios. He is at the cutting edge of cannabis patent and trademark law. He holds degrees from Harvard University and Columbia Law […]
Founded in the spring of 2014, Genius Extraction is owned and operated by its creators, Robert and Brenna Gaither. While Robert brings his sales prowess to the endeavor, Brenna’s strong background, education, and training in biochemistry establish the foundation for the company’s credibility in the extraction industry. With a strong understanding of the extraction industry’s […]
Network Partners
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website 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. CFN Media Group, 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. CFN Media Group, 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. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, 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/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. 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. CFN Media Group, 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. CFN Media Group, 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. CFN Media Group, 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/.
Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer
