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Article Name :Global Diamond Exchange Turns Public on World Wide Cannery Merger
Referral :Rapaport
The Global Diamond Exchange (OTC GBDX.PK) will wholesale rough and polished diamonds, according to company spokesman Alex Livak. The company exports rough and polished diamonds from the Russian Federation and other diamond producing regions Livak told Rapaport News. The company announced to investors on September 26 that it would open a diamond sales office in New York by November 1, 2006, and expects the first diamond shipment around November 3. The Global Diamond Exchange said it would office at 2 West 46th Street in the diamond district. Global Diamond Exchange and the World Wide Cannery and Distribution (WWCD) announced the two would merge on September 22. Alexey Cherebkov is listed as president of the Global Diamond Exchange. The name and business model change was the second in 2006 for WWCD, which began the year in Largo, Florida, under a different corporate name. Up until March 22, 2006, the company --led by then CEO Gordon Forgey-- operated as publicly traded real estate company VWAY International (OTC VWYI.PK,) but it changed business models and company name to WWCD in order to enter the international food distribution market. On April 5, Forgey and the company's board resigned and WWCD's corporate location changed to Belleair Bluffs, Florida. While WWCD traded on pink sheets as WWCD.PK, the company reported acquiring a seafood factory in Prague, Czech Republic, on April 10. WWCD sold the factory June 13, for GBP1.1 million ($2.08 million) and declared its stock was debt free. WWCD announced to investors on June 13 it would concentrate on growing the container shipping business -- a more profitable component of food trade. The company's next announcement was to change business models into the diamond wholesale trade in September as Global Diamond Exchange.