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Vinergy Resources Increases Private Placement to USD $400,000

May 16, 2017

Vinergy Resources Increases Private Placement to USD $400,000

Vinergy Resources Ltd. (“Vinergy” or the “Company”) (CSE:VIN) (OTCQB:VNNYF) in conjunction with its proposed acquisition of MJ Biopharma (announced December 14, 2016) is pleased to announce that, due to increased demand, the non-brokered private placement offering announced on May 11, 2017 has been increased to USD $400,000. The Company will now issue up to 800,000 units (the “Units”) at a price of USD $0.50 per Unit for gross proceeds of up to USD $400,000 (the “Offering”). Each Unit will consist of one common share in the capital of the Company (a “Share”) and one transferable common share purchase warrant (a “Warrant”), with each Warrant exercisable into one additional Share at a price of USD $1.00 for a period of three years from the date of closing (subject to acceleration in certain circumstances).

In connection with the Offering, the Company may pay a finder’s fee on the Offering within the amount permitted by the policies of the Canadian Securities Exchange (the “Exchange”).

Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The Offering is not subject to a minimum aggregate amount of subscriptions.

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