Company Receives Initial Product Sales from its Canadian Campaign as it Ramps Up Over the Coming Month
SAN DIEGO, June 29, 2017 /PRNewswire/ -- MyDx, Inc. (OTCQB:MYDX), a science and technology company and creator of MyDx® (My Diagnostic), the first multi-use handheld chemical analyzer initially designed for cannabis professionals and retail consumers to measure the chemicals in cannabis and track their feedback on how each sample is impacting their physiology, today announced that as a direct result of its recently launched Canadian Product Marketing Campaign, it has begun receiving additional sales orders from Canada. Further, it plans to engage outside sales agencies that will partner with MyDx to increase product sales on a commission basis.
MyDx Intends to Further Penetrate Canada's ~$9bn Cannabis Market with its New Marketing and Sales Partners
The primary objective of MyDx's business development and market awareness efforts is to help people Trust & Verify® their consumption habits with CannaDxTM, consider alternative delivery Smart Devices like the MyDx ECO Smart PenTM that has the potential to limit abuse and enhance safer use, and leverage the MYDX 360TM service to support access to crowdsourced formulation data for new market entrants, Canadian biopharmaceutical companies and licensed growers.
The second objective was to support the LGBT community with the launch of its Take Pride in Your HighTM campaign. It did so with prominent mobile super boards at Toronto's Gay Pride Parade as illustrated in the image above. Further market awareness efforts were seen across Ontario and Vancouver radio stations, taxi cab advertisements and highway super boards, some examples of which can be viewed HERE.
Finally, MyDx plans to engage experienced outside sales agencies with localized experience who have had success in selling technical products for high profile brands in mass markets. The strategic objective is to expand its sales channel efforts globally beyond its current direct to consumer sales channel, which has been the primary source of its sales to date through www.mydxlife.com and www.cdxlife.com.
"With the help of the right seasoned Branding, Advertising, and Sales agencies, we have significantly strengthened our brand and ability to expand into new marketing and sales channels. Over the next several months, we will initially focus on big box Canadian retailers and seek partners with a solid network of licensed growers. Combine this with our recent financial progress, where MYDX achieved positive cash flow in Q1 of this year, we will continue to focus on capitalizing on the market momentum. We are more optimistic than ever before about the future of MyDx, and we appreciate the faith and support of our loyal shareholders," concluded Daniel Yazbeck, CEO of MyDx.
About MyDx, Inc.
MyDx, Inc. (OTCQB: MYDX) is a chemical detection and sensor technology company based in San Diego, California whose mission is to help people Trust & Verify® what they put into their minds and bodies. The Company developed MyDx®, a patented, affordable portable analyzer that provides real-time chemical analysis and fits in the palm of the user's hand. The multi-use MyDx analyzer leverages over a decade of established chemical detection technology to measure chemicals of interest. The Company owns a substantial and growing intellectual property portfolio of patents covering its technology. The MyDx AquaDx®, OrganaDx(TM) and CannaDx(TM) sensors are now commercialized, and the AeroDx® application is next in line. All sensors will be compatible with a MyDx App that empowers consumers to live a healthier life by revealing the chemical composition of what they eat, drink and inhale. For more information, please visit www.mydxlife.com.
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements. These forward-looking statements by their nature are estimates of future results only and involve substantial risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, our ability to complete our product testing and launch our product commercially, the acceptance of our product in the marketplace, the uncertainty of the laws and regulations relating to cannabis, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed from time to time in our reports filed with the Securities and Exchange Commission, available at http://ir.cdxlife.com/all-sec-filings or www.sec.gov. MyDx is not considered a medical device. Consumers should be advised that any claims regarding the medical benefits of cannabis are still under research and until approved by the FDA or any other relevant international regulatory body, are considered anecdotal in nature.
MyDx Shareholder Communications
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