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. Medical marijuana stocks (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.
To read more visit http://www.kplctv.com/story/34583797/cannabis-products-are-becoming-more-acceptable
