FluroTech Provides a Technology Update and Bolsters the Sales Team
03 June 2019 - 10:00PM
InvestorsHub NewsWire
FluroTech Provides
a Technology Update and Bolsters the Sales
Team
CALGARY, Alberta
-- June 03, 2019 -- InvestorsHub NewsWire -- FluroTech
Ltd. (TSX-V: TEST) (OTCQB: FLURF), (“FluroTech” or
the “Company”) is pleased to provide a technology update.
The Company previously disclosed the pause of sales after the
company detected a contamination of certain test kits due to
packaging materials. Finding alternative packaging, the issue has
been resolved. Extensive testing internally and by beta testers
validated the test kits perform with the accuracy and repeatability
as intended. The CompleTest’s™ accuracy for CBDa and THCa testing
is within a 2% variability range, when compared to reference data.
This accuracy exceeds the performance of other competitive
alternatives available to producers. In addition to high accuracy,
the CompleTest™ consistently demonstrates repeatable results of the
same sample.
With the resolution of the packaging issue, the Company has
executed on its staffing plan to build out the sales and marketing
team through the addition of Eric Entz to its sales team. Eric has
built an extensive network in the cannabis industry. In addition to
his commitment to FluroTech, he is the Vice President of Western
Canada Leaf Forward, the Treasurer and Secretary of The Alberta
Cannabis Collective and a Senior Manager of Operations at
Cultivated Solutions.
“I welcome Eric to the team,” commented Danny Dalla-Longa.
“Although determining the proper packaging material for our product
took longer than expected, I’m very pleased with the product we can
now deliver. I believe the CompleTest™ accuracy will be enhanced as
we continue to refine our testing protocol. Our device will go a
long way in fixing the pronounced cross-lab variability issues that
currently exist in the marketplace.”
FluroTech’s sales representatives will be attending the Lift &
Co. Cannabis Business Conference (“LCBC”) in Toronto commencing
June 7th where they will be conducting test demonstrations. LCBC
brings together leading experts from across the industry to tackle
subject matter from a uniquely Canadian perspective.
FluroTech has a number of revenue streams to pursue, currently
focused on CompleTest™ sales, finalizing the development of a low
concentration THC test for hemp and the commercialization of the
biomarker technology for seed to sale tracking. For more
information on FluroTech please refer to the Company’s annual
MD&A posted on April 25th and recent interim Q1 MD&A posted
on May 29th.
About FluroTech (TSX-V: TEST) (OTCQB: FLURF)
FluroTech is a technology and marketing company whose
core business is focused on the commercialization of new
technologies in the cannabis industry. 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, FluroTech has developed a two-part solution comprising
an instrument called the CompleTest™ and consumable testing kits.
To learn more, visit www.FluroTech.com.
Contact Information
Danny Dalla-Longa
Chief Executive Officer
403.680.0644
danny@flurotech.com
FluroTech Ltd.
Alistair Ross Technology Centre
Suite 111, 3553-31 Street NW
Calgary, AB T2L 2K7
info@flurotech.com
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities. The
securities described herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended, or the securities laws of any state and may not be offered
or sold within the United States or to or for the benefit or
account of U.S. persons, absent such registration or an applicable
exemption from such registration requirements.
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, technology 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 the performance, in terms of accuracy and
repeatability of test results of the CompleTest™, opportunity for
fast, affordable, accurate and easy to use test and measurement
instruments, the continued resolution of the packaging
contamination issues, the CompleTest™ being delivered to the
market, the future enhancements to the CompleTest’s™ accuracy
range, and the CompleTest™ fixing the pronounced cross lab
variability issues that currently exist in the
marketplace.
The Company made certain material assumptions, including but not
limited to prevailing market conditions and general business,
economic, competitive, political and social uncertainties, the need
and demand for the CompleTest™ technology in the cannabis and hemp
industry, 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 cannabis and
hemp industries in general, users of the Company’s the CompleTest™
failing to achieve the anticipated benefits of the product,
competition from other developers of similar technology, failure to
reach commercialization of the technology and failure for the
products anticipated market to develop. 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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