PALM BEACH, Florida, May 11, 2017 /PRNewswire/ --
Vinergy Resources Ltd . (OTCQB: VNNYF)(CSE: VIN) in conjunction with its proposed acquisition of MJ Biopharma (announced December 14, 2016) is pleased to announce that it intends to complete a non-brokered private placement offering of up to 400,000 units (the 'Units') at a price of USD $0.50 per Unit for gross proceeds of up to USD $200,000 (the 'Offering'). Each Unit will consist of one common share in the capital of the Company (a 'Share') and one transferable common share purchase warrant (a 'Warrant'), with each Warrant exercisable into one additional Share at a price of USD $1.00 for a period of three years from the date of closing (subject to acceleration in certain circumstances). To read this and more news for Vinergy Resources go to: http://marketnewsupdates.com/news/vnnyf.html
In connection with the Offering, the Company may pay a finder's fee on the Offering within the amount permitted by the policies of the Canadian Securities Exchange (the 'Exchange'). Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The Offering is not subject to a minimum aggregate amount of subscriptions.
Vinergy Resources also announced this week that it has signed a definitive agreement with 1099955 B.C. LTD. dba MJ BioPharma ('MJ BioPharma') whereby Vinergy will purchase 100% of MJ BioPharma, a cannabis technology company with a team of experienced business and medical professionals, biochemists and researchers. MJ Biopharma's expertise lies in its extracts and custom formulations. The company will also aim to in-license and joint venture on best-in-class technologies and products for both the medicinal and recreational markets - domestically and internationally.
In other medical cannabis developments or market performers from this week:
Terra Tech Corp. (OTCQX: TRTC) closed up over 6% on Wednesday trading over 4.3 million shares by the market close. Terra Tech Corp, a vertically integrated, cannabis-focused agriculture company, announced that it will release its First Quarter 2017 results today, Thursday, May 11, 2017 before U.S. markets open. The company will also host a conference call on Thursday, May 11, 2017 at 9:00 AM Eastern. Dial-in number: +1-857-232-0157, access code: 422095
Eco Science Solutions, Inc. (OTCQB: ESSI) closed up over 5% on Wednesday at $2.22 by the market close. With headquarters in Maui, Hawaii, Eco Science Solutions, Inc. is a technology-focused company targeting the multi-billion-dollar health, wellness and alternative medicine industry. From enterprise software, to consumer applications for daily use, the company develops technical solutions that empower enthusiasts in their pursuit and enjoyment of building eco-friendly businesses and living healthy lifestyles.
NEMUS Bioscience, Inc. (OTCQB: NMUS) announced this week that an additional United States patent has been granted covering the company's proprietary prodrug of THC, THC-valine-hemisuccinate (THCVHS), as well as other amide-ester forms of cannabinoid-based molecules, for use in the treatment of glaucoma. This second patent, which is also licensed to Nemus by the University of Mississippi, further expands the intellectual property (IP) estate into methods of delivery of THCVHS into the eye, by formulating the prodrug into a nanoparticle composition.
22nd Century Group, Inc. (NYSE: XXII) announced today that the company's wholly-owned subsidiary, NASCO Products, recently entered into substantial new manufacturing agreements for the production of filtered cigars and other tobacco products. The products to be manufactured by 22nd Century as a result of these executed new contracts are currently supplied to more than 250 distributors and wholesalers and more than 40,000 retail stores across the United States. 22nd Century is a plant biotechnology company focused on technology which allows it to increase or decrease the level of nicotine in tobacco plants and the level of cannabinoids in cannabis plants through genetic engineering and plant breeding.
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This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.
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