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Vinergy Resources Ltd. (OTCQB: VNNYF)(CSE: VIN.CN) Breaking News

March 16, 2017

 


 

Vinergy Resources/MJ BioPharma Develops a Disruptive Solvent Based Extraction System  



VANCOUVER, BC, March 16, 2017 - Vinergy Resources Ltd. (OTCQB: VNNYF)(CSE: VIN.CN) ("Vinergy" or the "Company"), in conjunction with its proposed acquisition of MJ Biopharma (announced December 14, 2016) is pleased to announce it has developed a disruptive solvent based extraction system.

The project currently underway for an existing customer, utilizes an ethanol / CO2 co-solvent blend and specialized equipment to achieve medicinal products with significantly increased purity. The current iteration of the machine has the physical footprint of a standard shipping skid and incorporates safety and process control systems in one easy to use platform.

Mr. Kent Deuters, CEO on MJ BioPharma said, “This system can produce greater yields and higher quality end product results with less solvent and less time. The process is safe and can be tailored to fit local safety, electrical and workplace laws. The system has been tested to work with other solvent blends and may potentially be capable of producing other useful end products such as terpenes – an area which can add immediate value for the Company.”

The Company will provide more information on the system in the coming weeks. Industry participants are invited to contact the company for further technical data.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

Vinergy Resources Ltd.
Glen Macdonald, Director
Glen Macdonald
e: investors@vinergyresources.com
p: 778-989-0673
w: www.mjbiopharma.com 

Cautionary Statement Regarding "Forward-Looking" Information
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.

Source:  Vinergy Resources Ltd.
 

_____________________________________________
Recent Vinergy Resources News:

 

Vinergy Resources/MJ BioPharma Announces Memorandum of Understanding with Namaste Technologies Inc.



VANCOUVER, BC, March 14, 2017 - Vinergy Resources Ltd. (OTCQB: VNNYF)(CSE: VIN.CN) ("Vinergy" or the "Company"), in conjunction with its proposed acquisition of MJ Biopharma (announced December 14, 2016) is pleased to announce it has signed a Memorandum of Understanding (MOU) with Namaste Technologies Inc. (“Namaste”) to commercialize proprietary Cannabidiol (CBD) extract formulations through Namaste’s retail websites in the United States.

In the first phase of the collaboration, through channels in California, Colorado and potentially other States, the Company will distribute proprietary formulations to Namaste’s over 300,0000 unique visitors per month.

“We are excited and commited to working collaboratively with Namaste to bring to market our unique formulations. Namaste is an ideal partner based on their industry leading online presence and established customer base,” said Mr. Kent Deuters, CEO of MJ Biopharma.

“We are very pleased to work with Vinergy to further expand our product line. This relationship represents continued monetization of Namaste’s database and we view broadening our strategic alliances to the benefit of our customers and shareholders,” said Mr. Sean Dollinger, CEO of Namaste.

About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 ecommerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The CSE does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding "Forward-Looking" Information
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.

Vinergy Resources Ltd.
Glen Macdonald, Director
e: investors@vinergyresources.com
Source:  Vinergy Resources Ltd.
 


Vinergy Resources/MJ BioPharma Appoints Mr.Facundo Bacardi to Board of Directors



VANCOUVER, BC, March 9, 2017 - Vinergy Resources Ltd. (OTCQB: VNNYF)(CSE: VIN.CN) ("Vinergy" or the "Company"), in conjunction with its proposed acquisition of MJ Biopharma (announced December 14, 2016) is pleased to announce it has appointed Mr.Facundo Bacardi to its Board of Directors effective immediately.

Mr.Bacardi is a member of the family that owns and controls Bacardi Ltd., a worldwide liquor manufacturer and distributor. From 1979 to 1991, he was the head of Bacardi’s manufacturing and distribution division for Nassau, Brazil, Trinidad and Central America. Since 1990, Mr.Bacardi has served as a Director of Suramericana de Inversiones, S.A., an investment company located in Panama. He is a founding shareholder of JSM Capital Holding Corp., a shareholder and Director of Global Arena Holdings, Inc. Mr.Bacardi is also on the Honorary Consul for the Bahamas in Panama.

“We are excited to have someone of Mr.Bacardi’s calibre and pedigree join our team. We look forward to working closely with him on our strategy to roll out products and technologies internationally,” said Mr. Kent Deuters, CEO of MJ Biopharma.

Mr.Bacardi, said: “I am happy to be joining the team at Vinergy to pursue business in the cannabis industry. Given my life-long experience in the spirits industry I see several areas in which I can add immediate value for the Company.”

Mr.Bacardi has been granted 100,000 options priced at $0.60, subject to CSE approval.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding "Forward-Looking" Information
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.

Vinergy Resources Ltd.
Glen Macdonald, Director
e: investors@vinergyresources.com
Source:  Vinergy Resources Ltd.
 

 

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



VANCOUVER, BC, February 22, 2017 - Vinergy Resources Ltd. (OTCQB: VNNYF)(CSE: VIN.CN) ("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.

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.

The lab operates from a secure premises in Toronto, Ontario (Canada) alongside Micrylium which manufactures products registered under licensure from various agencies including: CE, FDA, EPA, Health Canada, Swiss BAG, and German VAH. MJ BioPharma will provide the proprietary line of disinfectant products, globally to the cannabis industry to ensure improved hygiene for cultivation facilities, nutrient hoses, labs, extraction systems, dry utensils and edibles manufacturing spaces.

Under the terms of the acquisition Vinergy/MJ BioPharma will acquire 65% of Biolennia for CAD $260,000 and 150,000 shares of Vinergy at the time the definitive agreement is signed. The Company expects to close on the acquisition in Q1-2017.

“This is a fantastic acquisition for us and supports our entire product line and R&D initiatives moving forward. Our technical expertise in drug testing, extractions, and formulas containing CBD, Terpene, THC and other botanicals is continually being furthered. We have a remarkable team. We feel strongly that science based products formulated from extracts and derivatives that are properly dosed and manufactured in GMP environments to ensure consistency and safety for all customers whether they be recreational or medical users, is the future of the cannabis industry,” MJ BioPharma CEO Kent A. Deuters.

European Acquisition Update
Based on early due diligence the Company has terminated its letter of intent announced February 02, 2017 to acquire up to 51% a European plant breeder.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Vinergy Resources Ltd.
Glen Macdonald, Director
Glen Macdonald
e: investors@vinergyresources.com

Cautionary Statement Regarding "Forward-Looking" Information
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.

Source:  Vinergy Resources Ltd.
 

 

Vinergy Resources/MJ BioPharma Appoint John Simon to Scientific Advisory Board



VANCOUVER, BC, February 16, 2017 - Vinergy Resources Ltd. (OTCQB: VNNYF)(CSE: VIN.CN) ("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 a lab for research and development products that test and identify specific cannabinoid isolates for targeted therapeutic purposes, it has appointed John Simon to the Company’s Scientific Advisory Board (SAB).

John has a Bachelor of Science from the University of Alberta, is a senior member of the American Society for Quality, a Certified Quality Auditor (CQA), a Registered Quality Assurance Professional in Good Laboratory Practice (RQAP-GLP) and maintains Regulatory Affairs Certification (RAC) through the Regulatory Affairs Professional Society.

John has held various management positions in Quality Assurance and Regulatory Affairs and has worked as a consultant supporting clients in the medical device, pharmaceutical, biotechnology and natural health product industries since 2004. He has been directly involved in Federal Drug Administration (FDA) and Health Canada audits of medical device manufacturers, drug manufacturers, testing facilities, and clinical sites. He has experience with submissions to the FDA and Health Canada.

Through John’s consultancy practice he assists companies with both site licenses and product licenses. He has helped companies obtain, renew and maintain in good standing Drug Establishment Licenses (DEL); Medical Device Establishment Licenses (MDEL); Natural and Non-prescription Site Licenses (NNHPD); and Licenses to Cultivate and Distribute under the Marihuana for Medical Purposes Regulations (MMPR) (now under the ACMPR).

John also works in creating quality systems to support ISO certification for various clients (ISO 17025, ISO 13485 and ISO 9001). John consults to groups in the creation of specifications, batch records and procedures to support the design and development of a variety of products including cosmetics, natural health products, medical devices, biologics, pharmaceuticals and controlled substances.

“With John’s substantial background in QA and regulatory affairs specific to drug development and the cannabis industry he will be a key asset in driving our cannabis product and technology initiatives,” said Mr.Kent Deuters, CEO of MJ Biopharma.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The CSE does not accept responsibility for the adequacy or accuracy of this release.
Vinergy Resources Ltd.
Glen Macdonald, Director
Glen Macdonald
e: investors@vinergyresources.com

Cautionary Statement Regarding "Forward-Looking" Information
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information. Information pertaining to the Target has been provided by the Target.

Source:  Vinergy Resources Ltd.
 

 

Vinergy Resources/MJ BioPharma Announces Breakthrough in Oral Cannabinoid Strip and Time Release Capsule Technologies



VANCOUVER, BC, February 14, 2017 - Vinergy Resources Ltd. (OTCQB: VNNYF)(CSE: VIN.CN) ("Vinergy" or the "Company"), in conjunction with its proposed acquisition of MJ Biopharma (announced December 14, 2016) is pleased to announce a major breakthrough while conducting research and development on oral cannabinoid complex (Tetrahydrocannabinol (THC), Cannabidiol (CBD), Cannabinol (CBN) and Terpenes) delivery strips and controlled time release capsule technology. This novel approach will be the basis for several products where water or saliva is the catalyst used to activate the carrier for delivery and absorption of the cannabinoid complex into the body.

This unique approach forms the basis for a fundamentally new technology and product category. The technology is called “BURST” due to its incredibly fast action and ability to enhance the body’s absorption of various medicinal ingredients contained in the Company’s products. The BURST system is built on natural botanical polymers delivering specially processed high purity cannabinoid complexes. The unique system for cannabinoid activation maintains the natural balance of THC, CBD, CBN and terpenes while preserving the maximum therapeutic effect and potentially delivering it to the body faster than any currently available delivery method. The patent pending technology allows for a more complete palatable drug delivery system that is effective and enhances the patient or user experience while intensifying flavour.

“This is a great breakthrough for us and the product line we have planned. The technology can also be utilized in our time release capsules which of course will have a slower absorption rate. We think time release capsules are extremely important as they help bridge the gap in terms of familiarity with many patients who want to switch from synthetic drugs to a natural product as a way to reduce side effects and drug,” said Mr. Kent Deuters, CEO of MJ Biopharma. “We look forward to providing additional updates in the coming weeks,” added Mr. Deuters.

The Hemp Business Journal estimates the total U.S. CBD market will grow to $2.1 billion in consumer sales by 2020.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The CSE does not accept responsibility for the adequacy or accuracy of this release.

Vinergy Resources Ltd.
Glen Macdonald, Director
Glen Macdonald
e: investors@vinergyresources.com

Cautionary Statement Regarding "Forward-Looking" Information
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information. Information pertaining to the Target has been provided by the Target.
 

Source:  Vinergy Resources Ltd.
 

 

Vinergy Resources/MJ BioPharma to Acquire Majority Stake in Multinational Plant Breeder with CAD $14,000,000 in Annual Sales



VANCOUVER, BC, February 02, 2017 - Vinergy Resources Ltd. (OTCQB: VNNYF)(CSE: VIN.CN) ("Vinergy" or the "Company"), in conjunction with its proposed acquisition of MJ Biopharma (announced December 14, 2016) is pleased to announce that it has signed a Letter of Intent (LOI) to acquire up to 51% of a European multinational plant breeding company (“Target”). The Target has audited annual sales in excess of CAD $14,000,000 and adjusted EBITDA of over CAD $2,000,000.

This development is a major step forward in establishing Vinergy as a leader in the global cannabis industry. The Target is a leading developer of plants and plant genetics and has been providing global customers with various commercial agriculture services for over 25 years. In 2016 they shipped over 35,000,000 plant products to the global marketplace. As part of the acquisition, Vinergy now has access to an extensive catalogue of over 2000 hemp and cannabis strains with the ability to supply those strains to customers globally.

Together with Vinergy, the Target has the capacity to expand rapidly into the hemp, cannabis and cannabinoid (CBD) sectors across Europe. “CBD is revolutionizing the global chronic pain management market and we have determined we can utilize our first mover advantage to take a leading market position in multiple countries,” said Mr. Kent Deuters, CEO of MJ Biopharma. “Given the current marketplace dynamics, existing customer base and technology we now have access to; we plan to immediately roll out several new hemp and CBD initiatives. Additionally, it’s important for our investors to know that we are diversified and not totally dependent on the cannabis space but have multiple complimentary revenue verticals.”

The global CBD market is experiencing significant growth: Europe’s market potential for CBDs is estimated to be €2 billion as a treatment for chronic diseases, according to a new report by Nova-Institute and HempConsult (both of Germany). The reports reviewed the market for non-psychotropic CBD which is increasingly in demand as a food supplement and pharmaceutical. The Hemp Business Journal estimates the total U.S. CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources.

“Our goal has always been to control every step of the production process from genetics, right through to extraction, ensuring only the highest quality extracts are used in the formulation of our strips, time release capsules and other products currently under development for the medical and recreational cannabis space,” added Mr. Deuters. The Company will aim to work with large growers and provide access for them to a comprehensive catalogue of cannabis strains.

Terms and conditions of the pending acquisition were not disclosed. The transaction, which is subject to customary closing conditions, is expected to close in tranches, with the first being in Q1-2017.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The CSE does not accept responsibility for the adequacy or accuracy of this release.
Vinergy Resources Ltd.
Glen Macdonald, Director
Glen Macdonald
Contact: investors@vinergyresources.com

Cautionary Statement Regarding "Forward-Looking" Information
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.

Source:  Vinergy Resources Ltd.
 

 

Vinergy appoints Panenka to scientific advisory board



January - 2017 - Vinergy Resources Ltd. (OTCQB: VNNYF)(CSE: VIN.CN), in conjunction with its proposed acquisition of MJ Biopharma (announced on Dec. 14, 2016), has appointed Dr. William Panenka, MD, as chair of the company's scientific advisory board. Bringing on the right human capital through strategic hires is an important part of the company's strategy to develop, test and identify specific cannabinoid isolates for targeted therapeutic purposes.

Dr. Panenka received his MD and MSc from the University of Calgary in Canada. His MSc was basic science focused, utilizing western blotting, polymerase chain reaction, in situ hybridization and other wet lab techniques to study the immune system. He completed residencies in both psychiatry and neurology at the University of British Columbia (UBC) in Vancouver, Canada. Dr. Panenka is one of only two specialists in Western Canada with a unique dual certification from the College of Physicians and Surgeons of Canada in both the specialties of neurology and psychiatry.

In 2011, Dr. Panenka began a research fellowship focusing on the mental and physical health, as well as the brain imaging correlates of drug use, addictions and traumatic brain injuries. In 2012, he became a research fellow at Harvard University and was competitively recruited to the University of British Columbia in 2013 as an assistant professor in psychiatry. His main focus is addiction and traumatic brain injury, with multiple basic science and clinical collaborations nationally and internationally.

For the past five years, Dr. Panenka has been involved in a large project funded by a Canadian Institutes of Health Research (CIHR) team grant to longitudinally follow over 400 vulnerably housed individuals, with a high burden of addictions and mental health issues, in Vancouver's poorest neighbourhood. They perform extensive cognitive phenotyping, neuropsychiatric assessments and multimodal magnetic resonance imaging (MRI) on participants, and follow them for 10 years. This study involves collaboration between multiple medical specialties, local health clinics and community organizations. He is a co-investigator on an extension study that was just funded by CIHR and slated to run for the next five years.

He is also the B.C. primary site investigator on a national multisite study funded by Brain Canada, titled "A National biobank and database for patients with traumatic brain injury (TBI)." The goal is to enroll TBI patients of all severities, and longitudinally follow them for six months with cognitive assessments and MRI, and pool these data into a national database. He is part of a multidisciplinary team within the division of neuropsychiatry at UBC that includes of neurologists, psychiatrists, physiotherapists, occupational therapists and others that contribute. Within this role, he is developing a research-enabled neuropsychiatry concussion clinic at the University of British Columbia. He is the medical lead of this clinic and the physician consultant to the Fraser Health Concussion Clinic, the largest concussion clinic in the province.

Dr. Panenka brings invaluable experience, expertise and insight, and the company looks forward to developing numerous projects that he can participate in. Dr. Panenka will be granted 150,000 options exercisable at 55 cents, subject to approval by the Canadian Securities Exchange.

We seek Safe Harbor.

Source:  Vinergy Resources Ltd.

 

Vinergy closes $2.08-million private placement



January - 2017 - Vinergy Resources Ltd. (OTCQB: VNNYF)(CSE: VIN.CN), has closed its previously announced non-brokered private placement for gross proceeds of $2,083,400 through the sale of 10,417,000 units at a price of 20 cents per unit. Each unit comprises one common share and one-half of one transferable common share purchase warrant. Each whole warrant is exercisable to acquire one additional share at a price of 40 cents until Jan. 9, 2018, subject to an early acceleration provision, which provides for the mandatory exercise or expiry of the warrants in the event the company's shares close at 55 cents or higher for at least 10 consecutive trading days after the hold period on the shares has expired. In such event, the warrants will accelerate and expire 30 days after the company has given notice of the accelerated conversion to the warrantholders.

In connection with the private placement, the company paid eligible finders aggregate cash finders' fees of $65,840 and issued an aggregate of 329,200 finder's warrants which are exercisable at 40 cents per common share until Jan. 9, 2018.

All of the securities issued in the private placement are subject to a hold period of four months and a day pursuant to applicable securities laws, which expires on May 10, 2017. The proceeds of the private placement will be used for working capital purposes.

We seek Safe Harbor.
Source:  Vinergy Resources Ltd.

 

 




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