PALM BEACH, Florida, May 9, 2017 /PRNewswire/ --
The legal medicinal marijuana market has seen a growing trend of biotech advancements and has become one of the largest beneficiaries of legal cannabis as companies in this sector continue to outperform the recent market. Medicinal Cannabis companies with recent news and market trading performances include: Vinergy Resources Ltd.(OTC:VNNYF)(CSE:VIN.CN), InMed Pharmaceuticals Inc. (OTC: IMLFF) (CSE: IN.CN), Aurora Cannabis Inc. (OTC: ACBFF) (TSX-V: ACB.V), Vitality Biopharma, Inc. (OTC: VBIO), Medical Marijuana, Inc. (OTC: MJNA)
Vinergy Resources Ltd.(OTCQB:VNNYF)(CSE:VIN) is pleased to announce that it has signed a definitive agreement (the "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 (the "Transaction").
About MJ BioPharma - MJ Biopharma is a cannabis technology company with a team of experienced business and medical professionals, biochemists and researchers. The company is currently focused on the following areas of interest:
• Manufacturing breath strips;
• Time release capsules;
• Extract oils;
• Food products and infused juices, teas, coffee and extract drinks;
• Pharmaceutical grade delivery systems;
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. To read more about the Definitive Agreement and recent Vinergy Resources news, go to: http://marketnewsupdates.com/news/vnnyf.html
In other medicinal marijuana news and market performances of note:
InMed Pharmaceuticals Inc. (OTCQB: IMLFF) (CSE: IN.CN) closed up on both the OTC Markets up 5% as well as on the CSE - Canadian market up over 11% on Monday. InMed Pharmaceuticals Inc., a pre-clinical stage biopharmaceutical company, engages in the research and development of novel and cannabinoid-based therapies in Canada. The company's products under pre-clinical development stage include INM-750 for the treatment of epidermolysis bullosa; and INM-085 for the treatment of glaucoma. It is also developing various drugs for diseases, such as ocular, pain and inflammation, dermatology, central nervous system, metabolic, and respiratory.
Aurora Cannabis Inc. (OTCQX: ACBFF) (TSX-V: ACB.V) closed up on both the OTC Markets up at $1.96 as well as on the TSX-V - Canadian market up at @2.70 by the market close on Monday. Aurora Cannabis announced that effective yesterday, Glen Ibbott has been appointed as Chief Financial Officer, replacing Amy Stephenson, who has acted as the Company's Interim CFO since August, 2016. Mrs. Stephenson will continue to work with Aurora on a part-time basis to ensure a smooth transition. Additionally, the Company announced the appointment of Andrea Paine as its Director, Québec Affairs.
Vitality Biopharma, Inc. (OTCQB: VBIO) continued to perform on Monday, closing up on Monday again at $2.50 by the market close. Vitality Biopharma focuses on the development of cannabinoids for the treatment of neurological and inflammatory disorders, such as inflammatory bowel disease and multiple sclerosis in the United States. Its products in pipeline include Cannabosides - VITA-100 for gastrointestinal disorders, including inflammatory bowel disease and irritable bowel syndrome; Cannabosides - VITA-210 for muscle spasticity in multiple sclerosis and rare white matter disorders; and Cannabosides for epilepsy, schizophrenia, substance abuse, and Huntington's disease.
Medical Marijuana, Inc. (OTC: MJNA) also saw positive trading on Monday closing up on over 6.4 Million shares traded by the market close. Medical Marijuana yesterday announced that its subsidiary, Kannaway®, the first hemp lifestyle network to offer cannabidiol (CBD) hemp botanical products, has increased its revenue eleven fold from March 2016 to April 2017. Executive management has been instrumental in driving the Company's tremendous growth through April 2017. Blake Schroeder took the helm of Kannaway® as CEO in March 2016, and President Brad Tayles joined the Kannaway® family in August 2015. From March 2016 through April 2017, the Company increased its active distributor base by 341%, grew the Company's active customer base by 500%, and ultimately increased overall revenue by 1100% (or 11 times the improvement in overall sales / revenues from March 2016).
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