TORONTO, Jan. 12, 2018 (GLOBE NEWSWIRE) -- BELGRAVIA CAPITAL INTERNATIONAL INC. (CSE:BLGV) (OTCQB:BLGVF) (“Belgravia Capital”, or the “Company”) is pleased to announce it has closed its announced non-brokered private placement of units. The Company has raised gross proceeds of $6,699,500 through the issuance of (i) 133,990,000 units at a price of $0.05 per unit, with each unit consisting of one common share of the Company and one common share purchase warrant with each warrant entitling the holder thereof to acquire one common share of the Company at an exercise price of $0.18 per share until January 10, 2019. All securities issued pursuant to the financing are subject to a four-month plus one-day hold period as required under Securities legislation.
Mr. Mehdi Azodi, the President and Chief Executive Officer of the Company stated: “We are pleased to have completed this important financing. As previously announced the Company’s strategies include the development of Blockchain distributed databases for attestation of provenance and quality for internationally supplied medicinal cannabis. As with all pharmaceuticals, the medicinal cannabis industry is required by regulators and domestic and international law to track the entire seed to sale process. Our systems and software will perform these functions using a distributed and decentralized data base recordation system. This will provide visibility to regulators and consumers. Our systems will provide considerable value to licensed producers in their marketing efforts since they will allow for consumer-friendly product content and quality visibility. The blockchain data will verify product quality characteristics such as percentages of cannabinoids and terpenoids, and the absence of impurities such as heavy metals and metabolites.”
Mr. Azodi continued: “These funds raised, in conjunction with previous funding, will be used for both working capital purposes and valued-added targeted investment. In addition to the development of attestation blockchain databases, the Company is investigating an additional blockchain concept. This product has the potential to provide a dramatic and significantly disruptive solution for medicinal cannabis customer generation and retention. The product will be of extreme value to licensed producers and distributors of medicinal cannabis. In addition to holding capital for the funding blockchain development solutions, the Company holds strategic investments of approximately $675,000 in a developing portfolio of research and development companies. We believe these investments will provide value-added services to Belgravia in terms of profitable ideas and relationships. In some cases, Belgravia management will take an active role in the strategic direction and management of the investees.”
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