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StartUp Calgary Selects FluroTech as One of This Year’s Top Startups

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CALGARY, Alberta, Oct. 21, 2019 (GLOBE NEWSWIRE) -- FluroTech Ltd. (TSXV: TEST) (OTCQB: FLURF), (“FluroTech” or the “Company”), a technology company focused on the analytical cannabis and hemp testing market, is pleased to announce it has been selected as one of the top 15 up and coming startups of the year by StartUp Calgary. As a result of its selection FluroTech will have a booth at the 10th Annual Launch Party at The Big Four in Stampede Park in Calgary on Tuesday, November 12 from 6:00 PM to 9:00 PM. Anyone interested in learning more about FluroTech or any of the other great Calgary startups are encouraged to join the evening’s festivities.

“We appreciate the community nominations and the recognition by StartUp Calgary of our efforts. Transitioning from the research stage to sales is a major milestone for the Company this year,” stated Danny Dalla-Longa Chief Executive Officer. “We are excited to showcase FluroTech and the CompleTest™ amongst an amazing cohort of startups, entrepreneurs, community leaders and investors.”

FluroTech’s proprietary spectroscopy-based technology was originally developed by Dr. Elmar Prenner at the University of Calgary and is now being commercialized for the cannabis and hemp industries. The CompleTest™, an affordable and easy-to-use analytical testing device, allows growers, brokers, and extractors of cannabis to reliably and accurately test for potency or contaminants in a fast and affordable manner.

About FluroTech (TSX-V: TEST) (OTCQB: FLURF)

FluroTech is a technology and marketing company whose core business is focused on the commercialization of new technologies in the cannabis industry. FluroTech’s proprietary spectroscopy-based technology allows for the testing and identification of organic and inorganic compounds contained within biological samples. Using the technology that was developed at the University of Calgary, FluroTech has developed a two-part solution comprising an instrument called the CompleTest™ and consumable testing kits.

To learn more, visit www.FluroTech.com.

Contact Information

Danny Dalla-Longa
Chief Executive Officer

FluroTech Ltd.
7 - 3535 Research Road NW
Calgary, AB T2L 2K8

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 Information

This 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 Flurotech’s presence at the Startup Calgary Launch party and the benefits thereof. The Company made certain material assumptions, including but not limited to prevailing market conditions and general business, economic, competitive, political and social uncertainties and the need and demand for the CompleTest™ 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. These risk factors include, but are not limited to, adverse market conditions and regulatory and other risks associated with the cannabis and hemp industries in general, users of the Company’s the CompleTest™ failing to achieve the anticipated benefits of the product, competition from other developers of similar technology , failure to reach commercialization of the technology, and failure for the products anticipated market to develop. 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.