New Risk • Apr 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (CA$159k revenue, or US$114k). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (CA$80.9m market cap, or US$58.3m). Announcement • Mar 17
Cannabix Technologies Inc Announces Commercial Launch of Marijuana Breath Test Cannabix Technologies Inc. announced the commencement of its commercial phased rollout of the Marijuana Breath Test system. This phase includes the delivery of Marijuana Breath Test units to select commercial customers across multiple industries, followed by a planned scale-up in production. The Marijuana Breath Test fills a critical gap and delivers new technology and methods that provide a complete, non-invasive solution for detecting recent cannabis use, specifically delta-9 THC in breath, within approximately 4 hours of consumption at levels above 5 pg/L. This capability addresses a long-standing need among employers, law enforcement agencies, and safety-sensitive industries, which have historically relied on testing methods that detect primarily past cannabis use. Accurate detection of recent use via breath is becoming essential for maintaining fairness, relevance, and informed decision-making. In early March 2026, an independent peer-reviewed publication in the Journal of Analytical Toxicology became publicly available confirming the ability of the Marijuana Breath Test system to detect delta-9 THC. Over recent months, Cannabix and its partners have completed many initiatives to enable the commercial rollout of the Marijuana Breath Test system: Key enhancements to the Breath Collection Unit and Breath Cartridges, along with the initial validation package prepared by Omega Laboratories. Integration of Cannabix Breath Cartridges into Omega’s operational workflows, including chain-of-custody processes and electronic reporting through its Laboratory Information Management System. Established manufacturing procedures and partnerships, standard operating procedures, and QA/QC processes for Marijuana Breath Test hardware. Breath Collection Unit successfully passing FCC electronic emissions testing. The Marijuana Breath Test system will follow a recurring revenue model in which the handheld Breath Collection Unit serves as the required hardware for all deployments, while disposable Breath Cartridges generate ongoing revenue as they are used for every test performed. Pre-launch marketing initiatives conducted with Omega and AlcoPro. Preparation of end-user training materials, logistics planning, and customer support resources. Release of peer-reviewed Journal of Analytical Toxicology publication, titled: “Simultaneous Analysis of ?9-THC, ?8-THC, CBD, and CBN in Breath Aerosols Collected Using Cannabix Technologies Breath Collection Unit.” The Marijuana Breath Test platform consists of the Cannabix Breath Collection Unit, disposable Breath Cartridges, and the Laboratory-Developed Test Method by Omega Laboratories. Cannabix has a strategic partnership with Omega Laboratories Inc, a global leader in forensic drug testing for over 25 years. Omega holds multiple federal and international certifications and operates a facility with extensive experience in novel drug detection technologies. Traditional cannabis testing methods such as urine, saliva, or hair analysis, primarily detect historical cannabis use. These methods can return positive results hours, days, or even weeks after consumption, making them ineffective for determining whether an individual may be using during the workday. Scientific research shows that delta-9 THC is detectable in breath for a short window of approximately 2–4 hours, closely aligned with the period of peak impairment. Breath analysis therefore provides the most relevant and scientifically meaningful indication of recent use, which is the metric employers and safety-sensitive industries require. Announcement • Mar 03
Omega Laboratories Inc and Cannabix Technologies Inc Publish Peer-Reviewed Validation Study Demonstrating Accuracy of Test Method for Detecting Marijuana in Breath Samples Using Cannabix Technologies Breath Collection Unit Omega Laboratories, Inc. and Cannabix Technologies Inc. announced the peer-reviewed publication of a study published by Oxford University Press in the Journal of Analytical Toxicology titled: "Simultaneous Analysis of ?9-THC, ?8-THC, CBD, and CBN in Breath Aerosols Collected Using Cannabix Technologies Breath Collection Unit." The study demonstrates the accuracy and utility of Omega Laboratories' analytical method for detecting cannabinoids in breath samples collected using Cannabix Technologies' Breath Collection Unit and Breath Cartridges—further validating the system as the leading solution for identifying recent marijuana use. This breath-based testing system offers a reliable, non-invasive solution for detecting recent cannabis consumption. This capability fills a critical gap left by traditional methods, which often detect historical—rather than recent—use. In May of 2024 Omega and Cannabix entered a strategic partnership to accelerate design improvements on the Cannabix Breath Collection Unit as well as the laboratory test method. Over the course of 20 months, Cannabix made several key enhancements to the BCU while Omega refined the analytical methodology to test breath for usage of marijuana. These successful efforts were combined into the validation study recently published by the Journal of Analytical Toxicology. Detection of recent cannabis use in exhaled breath offers an alternative to the more invasive and intrusive testing methods using blood or urine. Breath testing, long established for alcohol detection, has recently gained attention for drug testing following evidence that multiple substances can be identified in breath after consumption. The detection window in breath correlates with those found in blood and can assist with the identification of recency of use within the last 4 hours prior to collection. Omega has refined precision testing at these low levels for decades by being experts in utilizing hair samples to detect long-term drug usage. Omega's laboratory validated method combined with the Cannabix Breath Collection Unit has created the most commercially viable, non-invasive system for identifying same-day THC usage. Publication in the Journal of Analytical Toxicology indicates the research on the identification and measurement of toxic substances in biological samples has passed rigorous peer review. The method was validated according to ANSI/ASB Standard 036, First Edition 2019 guidelines. Omega's method validation builds upon dozens of previously published papers while introducing several new key findings. These include: The ability to simultaneously quantify multiple cannabinoids via breath aerosols including ?9-tetrahydrocannabinol (?9-THC), ?8-tetrahydrocannabinol (?8-THC), cannabidiol (CBD), and cannabinol (CBN). The validation of a robust laboratory method that is quicker and simpler than previous approaches while achieving improved detection sensitivity and precision. The establishment of breath sample stability for up to 7 days via the Cannabix Breath Collection Kit. Further confirmation that the concentration versus time trends for THC metabolism assessed from breath correlate with those previously reported from blood. Due to testing complexity requiring the use of LC-MS/MS, analysis must be performed in a laboratory. Collections performed at the roadside, workplace or in a clinic environment are sent to the laboratory and tested to see if a person had consumed marijuana 15 minutes to 4 hours prior to an incident. The breath collection process includes an ambient air sample followed by an A & B sample which are collected simultaneously with the use of the Cannabix collection cartridge. Omega screens the A sample using LC-MS/MS then, if presumptively positive, the B sample is also tested using LC-MS/MS. If both samples are positive the ambient air sample is tested to rule-out environmental contamination. Cannabix is currently working to ramp up manufacturing of the BCU's and Breath Collection Kits. The Cannabix BCU brings several advantages: Omega's validation helps establish the Cannabix BCU as a stable, consistent and portable tool for breath collection. The BCU offers a quick, non-invasive collection method regardless of subject's lung function. The BCU adds several safeguards to the reproducible collection process, including the monitoring of subject's breath pressure and volume, the ability to collect ambient air for specimen validity, and A & B cartridges for a dual testing process. The Breath Collection Kit cartridges used by the BCU are currently the most robust method of sending breath samples for laboratory testing. The sturdy nature of the cartridges combined with shipping stability time helps ensure that samples can be successfully processed once received at Omega Laboratories. 
