BELGRAVIA CAPITAL INTERNATIONAL announces LOI with R&D Pharma Corp.
04 January 2018 - 11:00PM
YASTEST
TORONTO, Jan. 04, 2018 (GLOBE
NEWSWIRE) -- BELGRAVIA CAPITAL INTERNATIONAL INC. (CSE:BLGV)
(OTCQB:BLGVF) ("Belgravia Capital", "Belgravia", or the "Company")
is pleased to announce the execution of a letter of intent with
R&D Pharma (the "Letter of Intent"), to collaborate in the
development of Belgravia's distributed and decentralized blockchain
medical cannabis provenance and quality attestation database.
R&D Pharma Corp., a Canadian
private company, is building a vertically integrated medical
cannabis business in the Country of Jamaica. Jamaica has
sophisticated medical cannabis laws in place consistent with the
best in class laws of Canada and Israel. Further, well
recognized international regulated cannabis production and
distribution companies are establishing footholds in Jamaica due to
the recognized quality of the strains and, also Jamaica's history
of medical research in this space. For example, Dr. Henry
Lowe of Kingston, Jamaica, a specialist in medicinal chemistry, a
chemistry-based discipline involving biological, medical and
pharmaceutical sciences, has contributed 50 years to the fields of
biotechnology ethical drug development, including drug regulatory
validated cannabis sativa products, for conditions such as nausea,
pain, appetite stimulation, motion sickness, inflammation, and high
ocular pressure which can lead to glaucoma.
The provisions of the Letter of
Intent with R&D Pharma include:
- R&D will provide validated input
data regarding concentration of Cannabinoids in products, and other
active ingredients, and levels of any impurities which will be
required to be consistent with established standards;
- R&D will provide references on
the blockchain will be provided to off-chain documents including
hash indexes to reports of independent analytical labs for
microbiology, heavy metals, pesticides, and metabolites;
- Belgravia will invite R&D to be
a permissioned node on the distributed blockchain; and
- Revenue sharing models will be
negotiated in due course, and as business cases are further
evaluated, and a significant number of additional industry players,
regulators, and consumer conduits are established through social
media marketing and other consumer outreach forums.
It is anticipated that medical
cannabis provenance and attestation data will be encapsulated on
the blockchain in both native and encrypted format, and that
detailed supporting hash-proven documents will be searchable
through hash indexes on the blockchain-validated blocks associated
with unencrypted identifiers of products, strains, and other
relevant parts of the seed to sale production blockchain. The
blocks will by searchable by domestic and international consumers,
governments, and industry players and other interested stakeholders
or parties.
Mr. Mehdi Azodi, the President and
Chief Executive Officer of Belgravia stated: "As we have previously
communicated we are advancing carefully thought out plans for the
development of Blockchain distributed databases as a service to
retail consumers, and as a value-added technology for the medical
cannabis industry. This work will require the building out of a
team of conceptual thinkers in blockchain business applications,
programmers, and marketers to both industry players and
consumers. Well thought out user interfaces will need to be
developed to support easily accessible consumer searches from smart
phones and point of sales terminals, as well as personal computers,
where software can be downloaded to nodes. Although some
degree of decentralisation will be maintained in the structure of
the medical cannabis attestation blockchain, a trusted and fully
disclosed consortium will grant read write permissions to other
participants. The consortium will be subject to thorough governance
and audit. Consortium blockchains will be standard for
blockchains being developed in various industries where the
intention is to provide consumer-friendly transparency and social
responsibility to consumers, regulators, governments, and all other
stakeholders. Customers and the public will be able to validate
inputs by accessing off-chain database documents, likely for a
reasonable fee. Belgravia is proud to be part of this
industry and these developments."
Mr. Azodi continued: "In addition
to these developments, the company has invested approximately
$675,000 as it commences to build a portfolio of strategic research
and development investments in companies which will provide
value-added services to Belgravia in terms of profitable ideas and
relationships. The Company plans to establish a royalty
division."
About
Belgravia Capital
Belgravia Capital International is focused on the provision of
clearly value-added services to the international legal Cannabis
industry. This includes the production of specialized organic
fertilizers for Cannabis Sativa plants, and the organization and
development of blockchain technology software for seed-to-sale
tracking and quality attestation of intermediate and consumer
products. The wholly-owned subsidiary of Belgravia, ICP Organics,
is a research and development company incorporating agronomic and
health perspectives in the Cannabis space. Belgravia is also
developing a royalty-streaming subsidiary.
Belgravia Capital intends to
establish joint research and development partnerships with Licensed
Producers operating under ACMPR regulations in Canada and in other
jurisdictions where medicinal cannabis is fully legal. Belgravia
Capital may invest in various private and public companies in
diversified sectors on an opportunistic basis. For more
information, please visit www.belgraviacapital.ca.
Forward-Looking Statements
Certain information set forth in this news release may contain
forward-looking statements that involve substantial known and
unknown risks and uncertainties and other factors which may cause
the actual results, performance or achievements of the Company to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Forward-looking statements include statements that use
forward-looking terminology such as "may", "will", "expect",
"anticipate", "believe", "continue", "potential" or the negative
thereof or other variations thereof or comparable terminology. Such
forward-looking statements include, without limitation, statements
regarding planned investment activities & related returns,
trends in the markets for fertilizers and medicinal or recreational
use of cannabis, the timing or assurance of the legalization of
recreational cannabis, the timing for completion of research and
development activities, the potential value of royalties from water
and other resources, and other statements that are not historical
facts. These forward-looking statements are subject to numerous
risks and uncertainties, certain of which are beyond the control of
the Company, including, but not limited to, changes in market
trends, the completion, results and timing of research undertaken
by the Company, risks associated with resource assets, the impact
of general economic conditions, commodity prices, industry
conditions, dependence upon regulatory, environmental, and
governmental approvals, the uncertainty of obtaining additional
financing, and risks associated with cannabis use for medicinal or
recreational purposes. Readers are cautioned that the assumptions
used in the preparation of such information, although considered
reasonable at the time of preparation, may prove to be imprecise
and, as such, undue reliance should not be placed on
forward-looking statements.
For More
Information, Please Contact:
Mehdi Azodi, President & CEO
Belgravia Capital
(416) 779-3268
mazodi@blgv.ca
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Belgravia Capital International via
Globenewswire
Belgravia Hartford Capital (CSE:BLGV)
Historical Stock Chart
From Apr 2024 to May 2024
Belgravia Hartford Capital (CSE:BLGV)
Historical Stock Chart
From May 2023 to May 2024