Increased Spending On Recreational Cannabis Is Another Driver Of Growth.

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.

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