West Point Resources Inc. (CSE:BLO) (OTC: BLOZF), developer of the patent-pending Cannabix Marijuana Breathalyzer, began trading on the OTC Markets Pinksheets today under the symbol “BLOZF”. In addition to its new U.S. listing, the company is listed on the Canadian Securities Exchange (“CSE”) under the symbol “BLO”, where the stock has been trading for some time.
The company’s Cannabix Marijuana Breathalyzer is a drug-impairment recognition system based on breath testing technology developed in Sweden. With many U.S. states legalizing recreational marijuana, many people are concerned about the lack of accountability when it comes to driving while impaired by the drug. In particular, there are no widely accepted technologies that can identify impairment.
Designed primarily for law enforcement end markets, the technology has successfully detected individuals that have recently consumed THC – the psychoactive component of marijuana – in clinical research studies. In addition to law enforcement, the company is also targeting other practical applications, such testing employees in the workplace where intoxication by THC can be hazardous.
On the CSE, the company trades with a market capitalization of approximately $5.4 million with 32,072,537 shares outstanding. The OTC Markets Pink Sheets listing will increase exposure for the stock by making it easier for U.S. investors to buy and sell shares without worrying about foreign stock transactions. Over the long-term, the move could help the stock maintain a more fair valuation.
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