Medbright AI Investments Inc (MBAIF)

[lithiumjr]

Major Acquisition Closes


https://technical420.com/cannabis-article/biotech-earnings-updates-and-major-acquisition-closes

This morning, Vinergy Resources Ltd. (VIN.CN: CSE) (VNNYF: OTCQB) reported the signing of a definitive agreement to complete the acquisition of MJ BioPharma. This acquisition was initially reported in mid-December and we expect to see the market favorably respond.

MJ Biopharma is a private cannabis technology company based out of British Columbia that is currently focused on manufacturing breath strips, time release capsules, extract oils, food products such as infused teas, coffee, juices and other drinks, as well as the development of pharmaceutical grade delivery systems. The company will also aim to in-license and joint venture on technologies and products for global medical and recreational cannabis industry.

The closure of this deal is something to watch as it will allow the companies to scale and form synergies to increase value for shareholders. We expect the acquisition to be very accretive with numerous synergies for the company as Vinergy has significantly advanced its business after it initially announced the acquisition.