FluroTech Ltd. Announces CompleTest(TM) Commercialization
Calgary, Alberta--(Newsfile Corp. - July 3, 2018) - FluroTech Ltd. (TSXV: TEST), ("FluroTech" or the "Company") is pleased to announce that it has finalized the engineering & design of its flagship product, CompleTest™, and engaged a third party manufacturer to produce the first commercial production run of the housing for the CompleTest™ Series 1 device.
The desktop device will commence commercial production July 2018 and is expected to be available for sale in Canada by October 2018, along with the first of a series of test kits that will be made available sequentially to the Cannabis industry over the next year and a half. Sales to international markets are expected in the first half of 2019.
"Over a decade of research has gone into the development of the CompleTest™ devices and test kits," stated Dr. Elmar Prenner, Chief Technology Officer. "We believe this disruptive technology is a step change when compared to conventional high-performance liquid chromatography and mass spectroscopy, which require trained lab technicians to perform experiments and interpret complex sets of data." Dr. Prenner explained that because the CompleTest™ allows users to obtain highly accurate results within minutes rather than waiting days or weeks for results from third party labs, it may allow cannabis producing companies to move from a compliance mindset to optimizing production by providing them tools to produce the highest quality products for their consumers.
Cross lab variability and a desire to understand one's product before sending it for third party certification has led Canadian licensed producers and international growers to express a keen interest to be able to carry out in-house quality control and THC/CBD potency optimization.
"Opportunities for effective cannabis testing technology continue to expand with the recent legalization of recreational cannabis in Canada," explained Danny Dalla-Longa, Chief Executive Officer. "CompleTest™ will fill a gap in the testing market, enabling growers, retailers and regulators to employ a user friendly, in-house option to affordably test cannabis, resulting in fast, accurate and repeatable results."
CompleTest™ is FluroTech's flagship brand and product line. CompleTest™ is a portable, cost-effective, state-of- the-art cannabis testing device, able to provide quick, accurate and consistent testing results. It's designed for cultivators, dispensaries and anyone with a vested interest in consumer safety to test the quality and safety of their cannabis products and to optimize potency yield.
About FluroTech (TSXV: TEST)
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 derived from cannabis plants. Using the technology that was developed at the University of Calgary in conjunction with the University of Alberta, FluroTech has developed a two-part solution comprising an instrument called the CompleTest™ and consumable testing kits.
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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, 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 future performance of the Company.
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