CALGARY, Alberta, June 09, 2020 (GLOBE NEWSWIRE) -- FluroTech Ltd. (TSXV: TEST) (OTCQB: FLURF), a technology company focused on becoming the standard in the analytical cannabis testing market, is pleased to announce it has entered into an non-exclusive US distribution agreement with US based Mabre Corporation (“Mabre”).
The distribution agreement provides for FluroTech and Mabre to work together to introduce the CompleTestTM to a client list of approximately 26,000 potential customers.
“We believe it presents an important opportunity for us,” Said Rex Kary, COO of FluroTech “We have been focused on hemp compliance for a while now and we believe that this partnership with Mabre will introduce FluroTech to a lot more organizations that we believe our product can benefit.”
Mabre and their team bring over 40 years of agricultural/agronomic expertise and have a unique perspective on how testing on site can reduce the risk of hemp farmers losing their crops. Mabre believes that one of the biggest issues hemp farmers in the United States face is uncertainty. With fewer certified labs performing potency testing, the chances of ‘running hot’ on THC is a bigger problem for hemp farmers than ever before. Mabre goal is to help hemp farmers get the most out of their biomass and Mabre believes that partnering with FluroTech will give their current and future clients peace of mind by providing accurate and easy to operate on site testing.
“After vetting other systems, we believe that the CompleTestTM by FluroTech offers the most accurate and reliable testing device currently available. We are proud to offer this state-of-the-art technology to our customers Coast to Coast across North America,” stated Dominic Paulhus, CEO of Mabre.
The Mabre team at will be actively engaged in introducing the CompleTestTM as a compliance solution to be adopted by hemp farmers who require accurate in-house potency testing.
FluroTech has recently launched the full potency testing module allowing CompleTestTM users to differentiate between THCA/THC and CBDA/CBD in their product.
About Mabre Corporation.
Mabre is an international service company that has been on the front line of innovation and improvement of agricultural heating and drying systems for over 40 years. They work to provide agriculture greenhouse and field farms with heating, air distribution and large to small scale drying systems for CBD hemp oil.
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FluroTech is a technology and marketing company whose core business is focused on the commercialization of new technologies in the Cannabis and Hemp industries. FluroTech’s proprietary spectroscopy-based technology allows for the testing and identification of organic and inorganic compounds contained within biological samples. Using technology that was first developed at the University of Calgary, FluroTech has created a two-part solution comprising a platform technology called the CompleTest™ and consumable testing kits. Its accuracy has been independently validated. FluroTech continues to develop additional applications for the CompleTest platform technology.
To learn more, visit www.FluroTech.com
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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 Corporation’s market opportunity, including in respect of US based distributors, and advancements in technology and accuracy of testing. The Company made certain material assumptions, including but not limited to prevailing market conditions and general business, economic, competitive, political and social uncertainties 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 described in the Corporation’s Annual Information Form under the heading “Risk Factors” and the failure to realize anticipated benefits of the evolving regulations or the advancements in the CompleTestTM technology. 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.