Blue Diamond Ventures Inc. approves expansion of governance
August 2, 2018 Blue Diamond Ventures Inc. (OTC PK: BLDV) Denver Colorado:
Cann10 North America & BLDV find path forward.
On July 25th Josh Alper, CEO of BLDV presented a plan to the Board of Directors of Cann10 Israel (51% controlling interest in Cann10 North America) confirming reports that the Cann10 NA business modelwill includethe licensing of specific technologies and targeted therapies.
“New developments in research are moving faster than anticipated ” said Josh Alper, CEO of BLDV, “We are excited about the prospects of offering access to products based on groundbreaking research coming out of Israel, the press today from the Medical Cannabis Research Group is just one example clinical trials anticipated or underway forreal treatments with whole plant products”.
Cann10 North America will begin to transition from focus on education and conferences, to a technology licensing modelimmediately. “This new model will give us access to other products and solutions from Israel, and additional companies have already signed on to the program” says Alper, “The Cann10 Alliance, is being renamed to the Cann Tech Alliance, to reflect the change in activity”
As part of the share exchange agreement, a new Chairman and CFO from Cann10 Israel would be added to BLDV expanding the governance and bringing intrue financial and public management experience. BLDV will acquire Cann10 North America as a wholly owned subsidiary in the share exchange agreement,no symbol change or reverse is planned at this time.
The CannX Conference on October 14-16 in Tel Aviv has been expanded to include a Startup Competition to be held during the conference. Companies from North America that are interested in competing in the competition can contact BLDV. Cost is only $1,000 and includes an exhibit booth at the conference.
In other news BLDV has postponed 1st QTR filing and legal opinions until the completion of the share exchange with Cann10 North America scheduled to be completed (pending final legal review) by September 1, 2018.
About BLDV: Blue Diamond Ventures, Inc. seeks to partner with individuals and companies that share a common synergy, mission and vision to enable pharmaceutical-grade cannabis products/services that are produced, delivered and consumed utilizing fewer natural resources, providing a sustainable alternative to traditional products on the market today. Blue Diamond Ventures, Inc. seeks opportunities in medical cannabis markets and is driven by critical thinking and the scientific method.
Safe Harbor: This press release contains forward-looking statements. Such forward-looking statements are subject to several risks, assumptions, and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.
Contact: Blue Diamond Ventures Inc. 535 N. Michigan Avenue, Suite 3001, Chicago, Illinois, 60611 Joshua B. Alper Chief Executive Officer (844) 637-6377 info@bldvinc.com www.bldvinc.com
In addition to BLDV updating us on the merger, the two underlying messages that I saw in this PR are presented in bold red text below:
1. The content of the PR does not live up to the title of the PR which I presume is due to BLDV not being able to disclose all of the details of the Cann10 Israel meetings as Cann10 Israel is a private company.
2. Cann10 NA Merger: The following parts of the PR indicate to me that subject to legal review the merger is going ahead since BLDV previously indicated that they were considering the expansion of governance for the upcoming merger in the 4/20/18 PR (https://investorshub.advfn.com/boards/read_msg.aspx?message_id=140190331).
i) The subtitle indicates that BLDV approved the expansion of governance
ii) The last paragraph with the September 1, 2018 date makes it seem that the merger now has a definitive timeline which was not previously communicated to us. I think this follows the accelerated timeline underlying message in this PR.
iii) As part of the share exchange agreement, a new Chairman and CFO from Cann10 Israel would be added to BLDV expanding the governance and bringing in true financial and public management experience.
- This part of the PR tells me that BLDV will need help managing the new entity that must have value to justify the expanded governance.
3. The underlined subtitle indicates to me that Cann10 NA and BLDV most likely have agreed on how this merger will be implemented.
4. Licensing of specific technologies and targeted therapies: I think this is the key message in this PR which is that new developments in research in Israel are providing opportunities for Cann10 NA to focus on generating revenues from licensing specific technologies and targeted therapies.
>> This is a key underlying message of this PR that highlights the recently advanced timing of research results from Israel - hence the "moving faster than anticipated" comment from the BLDV CEO, please see my previous posts on Dr. David Meiri's research:
5. 51% controlling interest in Cann10 North America: BLDV will need to provide further details on this. However, I think BLDV may be one of three or four shareholders in Cann10 NA. It may be possible that BLDV owns 49% and the other two or three shareholders who are all from Cann10 Israel collectively own 51%.
My hypothesis is based on the following highlights of the 4/9/18 PR which indicate that BLDV is the largest shareholder (49%) and Cann10 Israel collectively owns 51% among two or three shareholders from Cann10 Israel (i.e. Possible ownership make-ups: 20%+20%+11% or 21%+15%+15%) who are individually not larger than BLDV which makes BLDV a majority shareholder with its 49% stake. Again, BLDV will have to provide further details to confirm as this is just my hypothesis.
6. Cann Tech Alliance: “The Cann10 Alliance, is being renamed to the Cann Tech Alliance, to reflect the change in activity”
- The renaming of the alliance further reinforces my thought in point #4 above.
7. BLDV will acquire Cann10 North America as a wholly owned subsidiary in the share exchange agreement, no symbol change or reverse is planned at this time - This paragraph of the PR
i) Follows through on the 4/20/18 PR that indicated that the merger will be into BLDV as an operating OTC PK company (i.e. no symbol change)
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