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Cannabix Technologies ( (TSE:BLO) ) has provided an update.
Cannabix Technologies Inc. has entered its first international distribution agreement with Breathalyser Sales & Service Pty Ltd. for its BreathLogix autonomous alcohol breathalyzer devices, targeting industries such as mining, oil and gas, and trucking in Australia, New Zealand, and the Pacific Islands. This move marks a significant step in Cannabix’s transition from research and development to market delivery, potentially enhancing its industry positioning by expanding its reach and offering innovative solutions for employee safety and alcohol impairment prevention.
Spark’s Take on TSE:BLO Stock
According to Spark, TipRanks’ AI Analyst, TSE:BLO is a Underperform.
Cannabix Technologies has a low overall stock score due to severe financial challenges, characterized by zero revenue and ongoing losses. While technical indicators and recent corporate developments provide some optimism, the company’s speculative valuation and financial instability remain significant concerns.
To see Spark’s full report on TSE:BLO stock, click here.
More about Cannabix Technologies
Cannabix Technologies Inc. is a developer of marijuana and alcohol breath technologies for workplaces, law enforcement, and other settings.
Average Trading Volume: 50,771
Technical Sentiment Signal: Buy
Current Market Cap: C$66.78M
For detailed information about BLO stock, go to TipRanks’ Stock Analysis page.