VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 14, 2017) - Vinergy Resources Ltd. ("Vinergy" or the "Company") (CSE:VIN)(CSE:VIN.CN)(OTCQB:VNNYF) 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 committed 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.
Vinergy Resources Ltd.
Glen Macdonald, Director
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.
Contact Information:
Glen Macdonald
Director
investors@vinergyresources.com