Blue Diamond Ventures Inc (BLDV)

[JPS02]

What is a pharmaceutical processor?

A pharmaceutical processor is a facility that has obtained a permit from the Board of Pharmacy pursuant to § 54.1-3408.3 to cultivate Cannabis plants for the production of CBD oil and/or THC-A oil, and to dispense oils to patients registered by the BOP and who have obtained a written certification from a board-registered physician. It is a “vertical” operation meaning that the plants are grown, oils produced, and oils dispensed all from the same facility. Each facility is responsible for the quality of oils produced.

As set forth in §54.1-3442.6 of the Code of Virginia, the Board may issue or renew in any year a maximum of five pharmaceutical processor permits, one for each health service area established by the Board of Health. The application process for pharmaceutical processor permits has three stages: submission of initial application (deadline June 2018), awarding of conditional approval (Fall 2018), and granting of a pharmaceutical processor permit (likely in 2019, after construction and board inspection of the facility). The quality of the applications will determine which applicant(s) will awarded conditional approval. Up to five pharmaceutical processors are expected to go online in 2019.

Source - Pharmaceutical Processors in the Commonwealth of Virginia - Page 2:

https://www.dhp.virginia.gov/pharmacy/PharmaceuticalProcessing/docs/PPPReferenceSept2018.pdf

- It looks like that once the facility inspection and approval processes are completed in 2019, Dharma will be able to cultivate its own cannabis for the purpose to make the CBD oil. I think this is a significant part of the license once it is approved and received. To this end, it may make sense if they are possibly looking for a new location as it may be feasible to cultivate closer to the oil processing facility. It will be interesting to see what location they select.

Go BLDV!