| Previous Close | 0.2350 |
| Open | 0.3300 |
| Bid | 0.3000 x 0 |
| Ask | 0.3150 x 0 |
| Day's Range | 0.2750 - 0.3300 |
| 52 Week Range | 0.0600 - 0.4200 |
| Volume | 94,100 |
| Avg. Volume | 167,850 |
| Market Cap | 15.779M |
| Beta (5Y Monthly) | -1.09 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.0530 |
| Earnings Date | N/A |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | N/A |
- GlobeNewswire
FluroTech Announces Appointment of Regulatory Consultant
CALGARY, Alberta, Jan. 14, 2021 (GLOBE NEWSWIRE) -- FluroTech Ltd. (TSXV: TEST) (OTCQB: FLURF) (“FluroTech” or the “Company”), is pleased to announce it has retained PandiaDx LLC (“PandiaDX”) for regulatory guidance and services in preparation of its regulatory submissions to the U.S. Food and Drug Administration. Melina Cimler, Ph.D. is the CEO and Founder of PandiaDx. She is a senior quality, regulatory, and in vitro diagnostic device expert with more than 30 years of experience in the life science and FDA-regulated diagnostic industry, leading regulatory, quality systems, clinical affairs, research, and product development organizations, with a focus on precision medicine.She currently serves on the Board of Directors of Nanostics, Inc., and is a Scientific Board member of Athira Pharma, Inc., as well as an Expert Consultant of NDA Partners LLC.Dr. Cimler previously served as Senior Vice President of Regulatory & Quality at Adaptive Biotechnologies until April 2018. She was formerly Head of Global Quality and Vice President of Quality, Regulatory, Clinical, and Government Affairs at Illumina, Inc., where she defined and executed regulatory strategy, resulting in the first next generation sequencing platform to receive FDA marketing authorization. Dr. Cimler has held executive leadership positions in quality, regulatory, clinical, and government affairs at Beckman Coulter, Inc., Abbott Molecular, Gen-Probe, Inc. (now Hologic), and C.R. Bard, and was head of Product Development at Epitope, Inc. (now OraSure Technologies). Dr. Cimler holds a Ph.D. in Pharmacology from the University of Washington.“We are honored to be working with Dr. Cimler as we prepare for the FDA submission process,” said Bill Phelan, CEO of FluroTest Systems Ltd. “Dr Cimler has a long history of success and is actively involved in providing guidance to a number of firms currently making FDA submissions. We will surely benefit from her guidance.”About FluroTech (TSXV: TEST) (OTCQB: FLURF)FluroTech’s proprietary spectroscopy-based technology allows for the testing and identification of organic and inorganic compounds contained within biological samples for specific applications. Using technology that was first developed at the University of Calgary, FluroTech has created a two-part solution comprised of its CompleTest™ platform technology 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 FluroTech.comAbout FluroTest Systems Ltd.Unlike firms developing individual tests for the detection of SARS-CoV2, FluroTest is developing a complete system for surge-scale testing of viruses and other pathogens to be deployed in environments where significant numbers of people need to be tested rapidly and frequently. By combining and leveraging the disciplines of robotics automation, biochemistry (antibody labeling and binding), fluorescence detection and cloud computing, FluroTest believes it is creating the first pandemic defense platform of its kind.FluroTest is seeking additional capital in the near-term and will also be exploring strategic partnerships with manufacturing and distribution companies to advance the deployment of the patent pending platform it is developing. To learn more, visit FluroTest.comContact InformationFluroTech Ltd. Danny Dalla-Longa Chief Executive Officer 403.680.0644 Danny@FluroTech.com 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 InformationThis 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 Company’s perusal of strategic alternatives for its Cannabis and Hemp sector focused business, its focus on pandemic testing devices, its proposed transaction to acquire up to 95% of FluroTest (“FluroTest Acquisition”), its efforts to obtain approval of the FDA and Health Canada, and the need for financing of FluroTest in the near term and the formation of strategic partnerships for the deployment and distribution of the technology. The Company made certain material assumptions, including but not limited to prevailing market conditions and general business, economic, competitive, political and social uncertainties, the ability to obtain FDA and Heath Canada approvals, as well as the ability to complete the FluroTest Acquisition on the terms set forth herein in a timely manner and to obtain the regulatory approvals required in connection with the same, 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”, the failure to complete the FluroTest Acquisition on the terms set forth herein in a timely manner or at all, the failure to obtain FDA or Health Canada approval for its products, the risk that regulatory approvals will not be received and the risk that changing circumstances will result in the decrease in demand for FluroTest’s products. 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.
- GlobeNewswire
FluroTech Announces Closing of First Tranche of Private Placement
CALGARY, Alberta, Jan. 11, 2021 (GLOBE NEWSWIRE) -- FluroTech Ltd. (TSXV: TEST) (OTCQB: FLURF) (“FluroTech” or the “Company”), is very pleased to announce that it has closed the first tranche of a non-brokered private placement previously announced on December 7, 2020 (the “Offering”). A total of 3,105,182 Units were sold under the first tranche at a price of $0.135 per Unit for aggregate gross proceeds of $419,200. Each Unit is comprised of one common share in the capital of the Company (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.22 per share for a period of 12 months from the date such Warrant was issued; provided that, if the closing price of the Common Share (or the closing bid, if no sales were reported on a trading day) as quoted on the exchange on any 5 consecutive trading days is greater than $0.395 per Common Share, the Company may provide notice in writing to the holders of the Warrants by issuance of a press release that the expiry date of the Warrants will be accelerated to the 15th day after the date on which the Company issues such press release.In connection with the first tranche of the Offering, the Company paid a finder’s fee to eligible persons consisting of a cash payment in the aggregate amount of approximately $29,343 and the issuance of an aggregate of 217,363 finder’s options (“Finder’s Options”). Each Finder’s Option entitles the holder thereof to acquire one Common Share at a price of $0.15 per share for a period of 12 months from the date such Finder’s Option was issued.The Common Shares, Warrants and Finder’s Options are subject to a hold period under applicable securities laws until May 8, 2021. The proceeds from the Offering are expected to be utilized for further investment into FluroTest Systems Ltd. (“FluroTest”), a company formed to develop and commercialize a revolutionary pandemic defense system, accelerating optimization work to prepare the system for a real-world clinical trial and general working capital. About FluroTech (TSXV: TEST) (OTCQB: FLURF)FluroTech’s proprietary spectroscopy-based technology allows for the testing and identification of organic and inorganic compounds contained within biological samples for specific applications. Using technology that was first developed at the University of Calgary, FluroTech has created a two-part solution consisting of its CompleTest™ platform technology and consumable testing kits. Its accuracy has been independently validated. FluroTech continues to develop additional applications for the CompleTestTM platform technology. To learn more, visit FluroTech.comAbout FluroTest Systems Ltd. Unlike firms developing individual or low-throughput tests for the detection of SARS-CoV2, FluroTest is developing a complete system for surge-scale testing of viruses and other pathogens to be deployed in environments where significant numbers of people need to be tested rapidly and frequently. By combining and leveraging the disciplines of robotics automation, biochemistry (antibody labeling and binding), fluorescence detection and cloud computing, FluroTest believes it is creating the first pandemic defense platform of its kind.FluroTest is seeking additional capital in the near-term and will also be exploring strategic partnerships with manufacturing and distribution companies to advance the deployment of the patent pending platform it is developing. To learn more, visit FluroTest.comContact InformationFluroTech Ltd. Danny Dalla-Longa Chief Executive Officer 403.680.0644 Danny@FluroTech.com 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 InformationThis 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 Offering and the Company’s expected use of proceeds. These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, including, without limitation, prevailing market conditions and general business, economic, competitive, political and social uncertainties, as well as the ability of FluroTest to develop and commercialize its technology in a timely manner and to obtain the financing required in connection with the same, 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 use the proceeds of the Offering as set out herein, the risk that competitors will develop a similar or superior testing platform, the technology not having the anticipated testing benefits, the inability of FluroTest to obtain the necessary financing to achieve its purpose on satisfactory terms or at all, the failure to form strategic partnerships necessary to deploy and distribute the 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
- GlobeNewswire
FluroTech Announces Exploration of Strategic Options for Cannabis Testing Business to Focus on Pandemic Defense System
CALGARY, Alberta, Dec. 18, 2020 (GLOBE NEWSWIRE) -- FluroTech Ltd. (TSXV: TEST) (OTCQB: FLURF), (“FluroTech” or “the Company”) is exploring strategic alternatives for its Cannabis and Hemp testing business. While the Company’s Completest® system has proven beneficial to companies operating with the cannabis and hemp sector, many entities operating in that sector have been severely impacted by the pandemic. This has resulted in the scaling back or shutting down of a significant number of production facilities, resulting in a decreased market for FluroTech’s product. Management believes this strategic shift from cannabis and hemp testing will allow it to focus its resources toward the commercialization of its pandemic defense system through its investment in FluroTest Systems Ltd. (“FluroTest”). As has been previously announced, the Company currently has an approximately 25% interest in FluroTest, and has entered into a Letter of Intent with a majority of the other FluroTest shareholders in respect of a transaction that, if completed, would result in the Company acquiring up to 95% of FluroTest in Q1 2021. The pandemic defense system is realizing high demand and management believes the current pandemic is triggering a fundamental change from central laboratory testing model to point of care testing as well as the way large corporations and countries manage the risk of future pandemics. As part of the restructuring Rex H. Kary has resigned as the Company’s Chief Operating Officer effective as of December 16, 2020. Mr. Kary will continue in a consulting capacity, leading the Company’s exploration of strategic alternatives for its Cannabis and Hemp testing business, which will enable him to focus his time and energy in this area for the benefit of the Company and its shareholders.“Rex has played a critical leadership role in the development of the CompleTest® system, setting the standard for in-house testing in the Cannabis and Hemp industry. Our Board of Directors is highly confident in Rex’s ability to lead this exploration of strategic alternatives,” stated Danny Dalla-Longa, Chief Executive Officer of FluroTech. “This initiative will focus Company’s resources and attention on the development of the FluroTest’s pandemic defense system and its efforts to achieve U.S. FDA’s Emergency Use Authorization as well as Health Canada approval.”Readers are cautioned that, although FluroTest has achieved proof of concept prototype, the testing method and device is still in the early stages of research and development and accordingly FluroTest is not currently making any express or implied claims that the technology can, or will be able to, accurately detect the COVID-19 virus. The Platform is currently pending FDA approval. In addition, FluroTest requires additional capital in the near-term to further the development and deployment of its testing device and will be seeking equity investors and is exploring strategic partnerships in connection with the same.About FluroTech (TSXV: TEST) (OTCQB: FLURF)FluroTech LTD is advancing the science of fluorescence spectroscopy to solve unique problems and bring new, low-cost solutions to market, improving lives and making products safer in many ways. Our patented fluorescence spectroscopy technology enables the commercialization of low-cost solutions where highly sensitive and accurate affordable results are required but generally have not been economically feasible. To learn more, visit FluroTech.comAbout FluroTest Systems Ltd.Unlike firms developing individual tests for the detection of SARS-CoV2, FluroTest is developing a complete system for surge-scale testing of viruses and other pathogens to be deployed in environments where significant numbers of people need to be tested rapidly and frequently. By combining and leveraging the disciplines of robotics automation, biochemistry (antibody labeling and binding), fluorescence detection and cloud computing, FluroTest believes it is creating the first pandemic defense platform of its kind.FluroTest is seeking additional capital in the near-term and will also be exploring strategic partnerships with manufacturing and distribution companies to advance the deployment of the patent pending platform it is developing. To learn more, visit FluroTest.comContact InformationFluroTech Ltd. Strategic Alternative Inquires Danny Dalla-Longa Rex H. Kary Chief Executive Officer 403.680.0644 403\. 540-1113 Danny@FluroTech.com Rex@FluroTech.com 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 InformationThis 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 Company’s perusal of strategic alternatives for its Cannabis and Hemp sector focused business, its focus on pandemic testing devices, its proposed transaction to acquire up to 95% of FluroTest (“FluroTest Acquisition”), its efforts to obtain approval of the FDA and Health Canada, and the need for financing of FluroTest in the near term and the formation of strategic partnerships for the deployment and distribution of the technology. The Company made certain material assumptions, including but not limited to prevailing market conditions and general business, economic, competitive, political and social uncertainties, the ability to obtain FDA and Heath Canada approvals, as well as the ability to complete the FluroTest Acquisition on the terms set forth herein in a timely manner and to obtain the regulatory approvals required in connection with the same, 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”, the failure to complete the FluroTest Acquisition on the terms set forth herein in a timely manner or at all, the failure to obtain FDA or Health Canada approval for its products, the risk that regulatory approvals will not be received and the risk that changing circumstances will result in the decrease in demand for FluroTest’s products. 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.
