NEW YORK, February 23, 2017 /PRNewswire/ --
The U.S. cannabis market is growing rapidly as four more states have legalized cannabis for recreational use in 2016. According to a new report published by New Frontier Data, the legal cannabis market was worth an estimated $7.2 billion in 2016 and is projected to grow at a compound annual growth rate of 17%. While adult recreational sales are projected to jump from $2.6 billion in 2016 to $11.2 billion by 2020, with a 25% CAGR. The market may grow faster as the estimate was based on the states that have pass legalization initiatives, but not included the states that may pass in the future. Vinergy Resources Ltd. (OTC: VNNYF) (CSE: VIN.CN), MassRoots Inc. (OTC: MSRT), Medical Marijuana Inc. (OTC: MJNA), MCig Inc. (OTC: MCIG), Cannabis Science Inc. (OTC: CBIS)
Increased support for legalization of cannabis is a major factor that drives the growth of cannabis market. According to the data from National pollster Gallup, support for nationwide legalization of cannabis is 60% in 2016 poll, up from 25% in 1995. Four more states legalized recreational cannabis last November, with a total of eight states. While cannabis for medical use is now legal in 28 states. Increased spending on recreational cannabis is another driver of growth. Dispensaries in Colorado alone sold $1.3 billion of legal cannabis in 2016, up from $996 million in 2015.
Vinergy Resources Ltd. (OTCQB: VNNYF) (CSE: VIN.CN) in conjunction with its proposed acquisition of MJ BioPharma (announced December 14, 2016) is pleased to announced yesterday 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.
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."
Provider of technology platforms for the cannabis industry MassRoots Inc. (OTCQB: MSRT), has completed its acquisition in late January of DDDigtal, d.b.a. "Whaxy," an online order-ahead and menu management platform. Since launching in May 2016, Whaxy's online ordering platform has processed over $7 million in volume across 60,000 unique transactions. MassRoots mobile apps enable consumers to make educated cannabis purchasing decisions through community-drive reviews. MassRoots is proud to be affiliated with the leading businesses and organizations in the cannabis industry, including the ArcView Group and National Cannabis Industry Association.
Medical Marijuana Inc. (OTC: MJNA) subsidiary, HempMeds® Brasil announced the Brazilian government has authorized a doctor's prescription for the Company's hemp cannabidiol oil product Real Scientific Hemp Oil™ (RSHO™) to treat patients in the country suffering from Multiple Sclerosis. "We commend the Brazilian government for recognizing nationwide health problems that exist, including Multiple Sclerosis and a multitude of other chronic medical conditions, and looking for solutions that can help alleviate those problems," said Medical Marijuana, Inc. CEO, Dr. Stuart Titus. "Brazil has embraced the therapeutic value of medical cannabinoids and is helping its people treat the symptoms of certain conditions with no known cure or limited treatment options."
MCig Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp, and cannabidiol markets via its lifestyle brands. The company has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation Construction Company with its Grow Contractors division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp, and CBD markets, with broader expansion to take place once federal laws change.
Crown Baus Capital Corporation announces the Company had acquired a 100-acre investment participation in the Cannabis Science Inc. (OTC: CBIS) Property and Drug Development Projects spread across California and Nevada. In this agreement, it includes cultivation, laboratory, and manufacturing capabilities. "I am excited to announce our agreement with CBIS. That's 66,000 sq. ft. we will be building out with CBIS & CBCA over this spring and summer. We are certainly looking to bring that number well over 100,000 sq. ft. over the coming months. In line with CBCA's growth strategy in one of our core areas, we see tremendous value in our Property and Drug Development Projects. Each one-acre parcel provides investors with 33,000 square feet of space to build fully-licensed and state compliant medical cannabis and/or industrial hemp production facilities," said President and Chief Executive Officer of both Crown Baus Capital and Cannabis Science, Raymond C. Dabney.
Please SIGN UP NOW at http://www.FinancialBuzz.com To Receive Alerts on Trending Financial News from all these companies. "The Latest Buzz in Financial News"
Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR branding, marketing and advertising for third parties for disseminating news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions as we purely incorporate public market research along with financial and corporate news. FinancialBuzz.com only regurgitates financial or corporate news through our unique financial newswire and media platform. FinancialBuzz.com expects to be compensated ten thousand dollars for financial news dissemination and pr services by a third party non affiliate for vinergy resources ltd. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on the Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com
For further information: Media Contact: [email protected] +1-877-601-1879 Url: http://www.FinancialBuzz.com
SOURCE FinancialBuzz.com
Advertisement
The U.S. cannabis market is growing rapidly as four more states have legalized cannabis for recreational use in 2016. According to a new report published by New Frontier Data, the legal cannabis market was worth an estimated $7.2 billion in 2016 and is projected to grow at a compound annual growth rate of 17%. While adult recreational sales are projected to jump from $2.6 billion in 2016 to $11.2 billion by 2020, with a 25% CAGR. The market may grow faster as the estimate was based on the states that have pass legalization initiatives, but not included the states that may pass in the future. Vinergy Resources Ltd. (OTC: VNNYF) (CSE: VIN.CN), MassRoots Inc. (OTC: MSRT), Medical Marijuana Inc. (OTC: MJNA), MCig Inc. (OTC: MCIG), Cannabis Science Inc. (OTC: CBIS)
Advertisement
Increased support for legalization of cannabis is a major factor that drives the growth of cannabis market. According to the data from National pollster Gallup, support for nationwide legalization of cannabis is 60% in 2016 poll, up from 25% in 1995. Four more states legalized recreational cannabis last November, with a total of eight states. While cannabis for medical use is now legal in 28 states. Increased spending on recreational cannabis is another driver of growth. Dispensaries in Colorado alone sold $1.3 billion of legal cannabis in 2016, up from $996 million in 2015.
Vinergy Resources Ltd. (OTCQB: VNNYF) (CSE: VIN.CN) in conjunction with its proposed acquisition of MJ BioPharma (announced December 14, 2016) is pleased to announced yesterday 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.
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."
Provider of technology platforms for the cannabis industry MassRoots Inc. (OTCQB: MSRT), has completed its acquisition in late January of DDDigtal, d.b.a. "Whaxy," an online order-ahead and menu management platform. Since launching in May 2016, Whaxy's online ordering platform has processed over $7 million in volume across 60,000 unique transactions. MassRoots mobile apps enable consumers to make educated cannabis purchasing decisions through community-drive reviews. MassRoots is proud to be affiliated with the leading businesses and organizations in the cannabis industry, including the ArcView Group and National Cannabis Industry Association.
Medical Marijuana Inc. (OTC: MJNA) subsidiary, HempMeds® Brasil announced the Brazilian government has authorized a doctor's prescription for the Company's hemp cannabidiol oil product Real Scientific Hemp Oil™ (RSHO™) to treat patients in the country suffering from Multiple Sclerosis. "We commend the Brazilian government for recognizing nationwide health problems that exist, including Multiple Sclerosis and a multitude of other chronic medical conditions, and looking for solutions that can help alleviate those problems," said Medical Marijuana, Inc. CEO, Dr. Stuart Titus. "Brazil has embraced the therapeutic value of medical cannabinoids and is helping its people treat the symptoms of certain conditions with no known cure or limited treatment options."
MCig Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp, and cannabidiol markets via its lifestyle brands. The company has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation Construction Company with its Grow Contractors division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp, and CBD markets, with broader expansion to take place once federal laws change.
Crown Baus Capital Corporation announces the Company had acquired a 100-acre investment participation in the Cannabis Science Inc. (OTC: CBIS) Property and Drug Development Projects spread across California and Nevada. In this agreement, it includes cultivation, laboratory, and manufacturing capabilities. "I am excited to announce our agreement with CBIS. That's 66,000 sq. ft. we will be building out with CBIS & CBCA over this spring and summer. We are certainly looking to bring that number well over 100,000 sq. ft. over the coming months. In line with CBCA's growth strategy in one of our core areas, we see tremendous value in our Property and Drug Development Projects. Each one-acre parcel provides investors with 33,000 square feet of space to build fully-licensed and state compliant medical cannabis and/or industrial hemp production facilities," said President and Chief Executive Officer of both Crown Baus Capital and Cannabis Science, Raymond C. Dabney.
Please SIGN UP NOW at http://www.FinancialBuzz.com To Receive Alerts on Trending Financial News from all these companies. "The Latest Buzz in Financial News"
Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR branding, marketing and advertising for third parties for disseminating news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions as we purely incorporate public market research along with financial and corporate news. FinancialBuzz.com only regurgitates financial or corporate news through our unique financial newswire and media platform. FinancialBuzz.com expects to be compensated ten thousand dollars for financial news dissemination and pr services by a third party non affiliate for vinergy resources ltd. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on the Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com
For further information: Media Contact: [email protected] +1-877-601-1879 Url: http://www.FinancialBuzz.com
SOURCE FinancialBuzz.com
