BELGRAVIA CAPITAL INTERNATIONAL receives cash payment, appoints renowned Dermatologist as special advisor to ICP Organics, an...
January 10 2018 - 7:00AM
YASTEST
TORONTO, Jan. 10, 2018 (GLOBE
NEWSWIRE) -- BELGRAVIA CAPITAL INTERNATIONAL INC. (CSE:BLGV)
(OTCQB:BLGVF) ("Belgravia Capital", "Belgravia", or the "Company")
is pleased to announced that the second cash payment of USD $1.4
million, due from Cartesian Capital Group controlled
Intercontinental Potash Corp. (USA) has been received. The
Canadian equivalent amount received is $1.74 million. Current
working capital, prior to the completion of the current financing,
announced on January 3, 2018, is CAD $5.1 million.
The Company is pleased to announce
that Dr. Sam Hanna, a recognized Canadian dermatologist has been
appointed as Special Advisor to Belgravia's wholly owned
subsidiary, ICP Organics Corp. ("ICP Organics"). As announced
on March 28, 2017, ICP Organics will focus on increasing the health
impact and effects for consumers of medicinal cannabis in its
various formats. Dr. Hanna, is a practicing dermatologist.
Cannabidiol ("CBD") is a cannabinoid found throughout the seeds,
stalk and flowers of cannabis plants including hemp. Hemp and hemp
derived CBD products are among the fastest growing segments in the
cannabis industry. According to a report by market
intelligence firm Hemp Business Journal the CBD market may grow to
$2.1 billion by 2020. According to a published study in the
Journal of Clinical Investigation, published September 2014, there
is sufficient scientific data to strongly encourage future study in
clinical trials to determine whether either systemic or topical
application of CBD and/or appropriate modulation of the related
signalling pathways deserves full clinical exploration as a potent
novel class of anti-acne agents. According to the Journal of the
American Academy of Dermatology, as published in an article July
2017, Cannabinoids may have anti-inflammatory properties useful for
the treatment of both allergic contact dermatitis and atopic
dermatitis.
Mr. Mehdi Azodi, the President and
Chief Executive Officer of Belgravia stated: "We are very pleased
to have Dr. Hanna join the advisory panel of ICP Organics, as we
seek to expand our horizons in the legal medicinal cannabis
business. In addition, we are continuing to develop the
specifications for our blockchain concepts with respect to
distributed databases as a service to retail consumers, and as a
value-added technology for the medical cannabis industry. In
addition to the developments, previously announced, we are
investigating an additional blockchain concept, which may have the
potential to provide a dramatic and significantly disruptive
solution for certain aspects of customer generation and retention
for licensed producers, and other distributors of legal cannabis
products, around the world."
Mr. Azodi continued: "As
previously announced the company has investments of approximately
$675,000 in a developing portfolio of strategic research and
development investments in companies which will provide value-added
services to Belgravia in terms of profitable ideas and
relationships in the legal medicinal cannabis industry and the
blockchain sector. Based on current working capital, and the
shortly anticipated closing of the current financing, we expect to
expand this strategic investment portfolio. This will include
taking an active role in the management of the operations of these
investee companies in certain cases."
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
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