PALM BEACH, Florida, February 22, 2017 /PRNewswire/ --
The intersection of Biotech & Cannabis Industries is becomingmore and more prevalent today resulting in identifying and researching the development Of Cannabinoids & THC Extracts as well as other botanicals for discovering the newest and innovative approach to medicinal cannabis and marijuana therapies and
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, as a part of the Company's strategy to develop products that test and identify specific cannabinoid isolates for targeted therapeutic purposes, it has signed a binding Letter of Intent ("LOI") to acquire 65% of Biolennia Laboratories Inc. (the "Laboratory").
Biolennia will provide a host of drug testing services to support MJ BioPharma's product line and provide research and development (R&D), product formulation, extraction facilities, systems design and develop standard-operating-procedures (SOPs). The lab is currently in the process of applying for a Dealer's License from Health Canada. Once issued, the license will allow the Company to process cultivated cannabis (extracts and/or derivatives) for R&D purposes. Read this and more news for Vinergy Resources at: http://marketnewsupdates.com/news/vnnyf.html
Biolennia was founded in 2001 by Dean Swift as the internal R&D and quality testing laboratory to support Micrylium Laboratories Inc. ("Micrylium"). In 2002 it upgraded to a full active ingredient and microbial testing laboratory for several Health Canada approved products. Biolennia is a specialty development laboratory with expertise in Microbiology (bacteria, fungi, viruses), Chemistry (proteins, enzymes, drug testing, material science and analytics). The Laboratory currently provides testing, R&D and quality control for a proprietary line of Health Canada registered and approved industrial disinfectants and other consumer products on behalf of Micrlylium.
Biolennia has in-house expertise in methods accepted by Health Canada and the Federal Drug Administration (FDA) for determining purity and quality of many of the materials and methods used in validating cannabis and or testing cannabis products. Biolennia brings a highly talented team of Microbiologists who are familiar with testing high purity water, ethanol, ethyl acetate, propylene glycol, xylitol, glycerine, propandiaol, d-limonene, myrcene, and beta caryophelline.
Under the terms of the acquisition Vinergy/MJ BioPharma will acquire 65% of Biolennia for CAD $260,000 and 150,000 shares of Vinergy at the time the definitive agreement is signed. The Company expects to close on the acquisition in Q1-2017. "This is a fantastic acquisition for us and supports our entire product line and R&D initiatives moving forward. Our technical expertise in drug testing, extractions, and formulas containing CBD, Terpene, THC and other botanicals is continually being furthered. We have a remarkable team. We feel strongly that science based products formulated from extracts and derivatives that are properly dosed and manufactured in GMP environments to ensure consistency and safety for all customers whether they be recreational or medical users, is the future of the cannabis industry," MJ BioPharma CEO Kent A. Deuters.
Breakthrough performances in the markets this week and recent developments include:
OWC Pharmaceutical Research Corp. (OTCQB: OWCP) closed up over 128% on Tuesday at $2.09 trading over 14.9 Million shares by the market close. OWC Pharmaceutical Research, through its wholly-owned Israeli subsidiary, One Word Cannabis Ltd., (collectively "OWC" or the "Company") conducts medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines.
Future Farm Technologies Inc. (OTCQB: AGSTF) (CSE: FFT.CN) closed up over 40% on Tuesday at $0.485 trading over 5.7 Million shares by the market close. Future Farm Technologies reported this week that its subsidiary, FFM Consulting Services, LLC, a California limited liability company, has entered into a management agreement with a California non-profit company. The non-profit has secured a sublicense to legally manufacture cannabis oil using a non-volatile method compliant under the Medical Marijuana Regulation And Safety Act ("MMRSA"), in South-eastern Los Angeles County, California.
Future Farm also announced that due to a high level of interest from strategic investors they are offering $1,000,000 (units) in a non-brokered private placement. The Company will use the net proceeds for opportunistic acquisitions, and the continued rapid expansion of their business. The Company is offering each Unit at a price of $0.27 CDN per Unit. Each Unit is comprised of one common share of stock and one-half share purchase warrant that is exercisable at $0.37 CDN per common share for one-year with certain acceleration clauses.
Canopy Growth Corporation (OTC: TWMJF) (TSX: WEED.TO) closed up on the OTC market at $9.73 and $12.80 on the TSX trading over 1.6 Million shares on Tuesday on the TSX exchange alone. Canopy Growth Corporation announced that it has entered into a memorandum of understanding ("MOU") with Namaste Technologies Inc. ("Namaste"), an emerging leader in the vaporizer and accessories space with 26 e-commerce retail stores in 20 countries. This MOU represents an opportunity for the companies to work together to educate customers on the legal, regulated cannabis framework in Canada, encourage the use of vaporizing technology over smoking, and introduce cross-brand exposure among their respective clients. Namaste's database consists of approximately 300,000 customers that generate upwards of 600,000 site visits monthly.
Cannabics Pharmaceuticals Inc. (OTCQB: CNBX) closed up over 60% on Tuesday at $6.45 trading over 6.7 Million shares by the market close. Cannabics Pharmaceuticals, a U.S based public company, is dedicated to the development of Personalized Anti-Cancer and Palliative treatments. The Company's R&D is based in Israel, where it is licensed by the Ministry of Health for its work in both scientific and clinical research. The Company's focus is on harnessing the therapeutic properties of natural Cannabinoid formulations and diagnostics. Cannabics engages in developing individually tailored natural therapies for cancer patients, utilizing advanced screening systems and personalized bioinformatics tools.
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