Cannabis Companies Leveraging Biotech Enhancements to Boost Improved Purity of Medicinal Marijuana Treatments and Products

Tuesday, May 16, 2017 Drug News
Email Print This Page Comment
Font : A-A+

MarketNewsUpdates.com News Commentary

PALM BEACH, Florida, May 16, 2017 /PRNewswire/ --

The influence

of biotech advancements in the cannabis industries continues to be apparent as more and more companies focus upon various aspects of biotechnology to enhance operations and in turn boost revenues. With a growing population and finite natural resources,
the challenge to produce higher quality therapies, treatment and increasing the purity of legal marijuana products while protecting the consumer is real while advances in biotechnology are quickly becoming a vital tool to help the legal medical marijuana industry get there. Companies focused on advancing high quality products for the industry include: Vinergy Resources Ltd. (OTC: VNNYF) (CSE: VIN), Terra Tech Corp. (OTC: TRTC), mCig, Inc. (OTC: MCIG), Radient Technologies Inc. (TSX-V: RTI.V), Aurora Cannabis Inc. (OTC: ACBFF) (TSX-V: ACB.V).

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, due to increased demand, the non-brokered private placement offering announced on May 11, 2017 has been increased to USD $400,000. The Company will now issue up to 800,000 units (the 'Units') at a price of USD $0.50 per Unit for gross proceeds of up to USD $400,000 (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). Read this and more news for Vinergy Resources at:http://www.marketnewsupdates.com/news/vnnyf.html

Vinergy Resources recently announced 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. Pursuant to the terms of the Agreement, the Company will acquire all of the issued and outstanding securities of MJ BioPharma. MJ Biopharma is a cannabis technology company with a team of experienced business and medical professionals, biochemists and researchers.

In conjunction with acquisition of MJ Biopharma, the Company announced it has developed a disruptive solvent-based extraction system. The project currently underway for an existing customer, utilizes an ethanol / CO2 co-solvent blend and specialized equipment to achieve medicinal products with significantly increased purity. The current iteration of the machine has the physical footprint of a standard shipping skid and incorporates safety and process control systems in one easy-to-use platform.

In other industry news and market performance of note in the sector: 

Terra Tech Corp. (OTCQX: TRTC) closed up on Monday at $0.197 trading over 2.5 million shares by the market close. Terra Tech Corp last week announced its first quarter 2017 financial results for the period ended March 31, 2017. Derek Peterson, Chief Executive Officer of Terra Tech Corp., commented, "We are pleased to see the impact of our expansion strategy to open cannabis dispensaries in core target markets drive strong sales in the first quarter. We also reported higher sales of our wholesale IVXX-branded cannabis products as a result of its improved brand recognition coupled with expanded distribution channels. Total first quarter revenues were $6.8 million, representing a 340% increase over the prior year period and we are on track to meet our revenue guidance of $38 - $40 million for 2017."

mCig, Inc. (OTCQB: MCIG) closed up over 5% on Monday at $0.2425 trading over 3.4 million shares by the market close. mCig, Inc. yesterday announced some highlights of its year-end financial results: Net Sales increased to $4.5 million, a 158% increase year-to-year comparison, and a 1,294% increase for the 4th quarter compared to same period last fiscal year - Net income of $1.5 million compared to a $1.4 million loss from the previous year, and an increase of $2.9 million net earnings - Cash and cash equivalents of $1.6 million compared to $0.1 million from the previous year (a 1,369% increase), and a 400% increase from last quarter. mCig generated $2.1 million in cash from operating activities - mCig assets increased to $6.8 million, having 6 times more assets than it does liabilities. In addition to the highlights mentioned above, mCig Inc. was able to reduce its operating expenses by $730K (43%) from the previous year. In addition, mCig increased its gross profit by 20% to 36% compared to 16% from the previous year.

Radient Technologies Inc. (TSX-V: RTI.V) (OTC: RDDTF) closed up over 16% at $0.56 on Monday trading over 3.6 Million shares on the Canadian TSX Venture exchange by the market close. Radient Technologies announced yesterday the completion of the second phase of its previously announced joint venture research agreement with Aurora Cannabis Inc. (TSX-V: ACB. V)(OTCQX ACBFF). As previously announced, Radient and Aurora entered into a memorandum of understanding ('MOU') with regard to the exclusive joint development and commercialization of superior and standardized cannabinoid extracts for the Canadian market. In accordance with the MOU, the parties entered into a joint venture research agreement to confirm the effectiveness of Radient's MAP™ technology for cannabis extraction.

DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated three thousand nine hundred dollars for news coverage of the current press release issued by Vinergy Resources Ltd. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

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.

Contact Information: Media Contact E-mail:info@marketnewsupdates.com   +1-(561)-325-8757

 

SOURCE MarketNewsUpdates.com



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store

Facebook