Cannabix Technologies has entered into a strategic partnership and development agreement, with Omega Laboratories, that it said provides a pathway for commercialization of its marijuana breathalyzer technology.
Cannabix and Omega have agreed to, among other things, complete research and development, refine and expand the use of Cannabix’s technology to meet existing and emerging needs of Omega’s clients, contemplate manufacturing and distribution and introduce the delta-9 THC breath testing technology to customers in North America.
The agreement includes an “R&D Phase,” “Commercial Phase” and “Exclusive Testing” of Cannabix’s delta-9 THC breath sample cartridges for drugs for five years within North America, subject to certain exemptions as set out in the agreement. The R&D phase covers key milestone developments where the parties will work within Omega’s certified laboratories. During the Commercial Phase of the agreement, the parties will determine pricing, licensing and other revenue parameters.
As part of the agreement, Omega will receive one million common shares of the company.
