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$VNNYF $VIN.CN – Vinergy Resources/MJ BioPharma to Acquire 65% of Health Canada and FDA Licensed Laboratory to Pursue Drug Testing and Dosage of CBDs, THC and Terpenes

Wednesday, February 22, 2017 7:17
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(Before It's News)

FinancialNewsMedia.com News Alert: VANCOUVER, BRITISH COLUMBIA – (http://www.financialnewsmedia.com News Alert) – Vinergy Resources Ltd. (OTCQB:VNNYF)(CSE:VIN) (“Vinergy” or the “Company”) 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 Vinery Resources at http://financialnewsmedia.com/profiles/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.



Source: http://www.financialnewsmedia.com/stock-investing-business-investing-news/featured-news.php?id=977

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