BELGRAVIA CAPITAL INTERNATIONAL receives cash payment, appoints renowned Dermatologist as special advisor to ICP Organics, and provides updates on additional blockchain developments
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.
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
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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