TORONTO, Dec. 05, 2017 (GLOBE NEWSWIRE) -- BELGRAVIA CAPITAL INTERNATIONAL INC. (CSE:BLGV) (OTCQB:BLGVF) (“Belgravia Capital”, or the “Company”) is pleased to comment on share price and trading volumes. Belgravia has previously announced expansion of business development and partnerships in the international Cannabis industry. While the Company is aggressively investigating potential specific partnership and joint venture opportunities in the cannabis industry, it is also investigating related partnership and joint ventures in blockchain technology assets, any incremental investments that may be made are currently at the negotiation stages. Once the current events become definitive and material individual investments are finalized, substantial details will be disseminated by way of public press release.
Mehdi Azodi, President and CEO of Belgravia Capital stated, “We have previously announced the strategy of developing cannabis related businesses incorporating services in the area of permissioned and private blockchains to ensure the integrity of intra-corporate and inter-corporate cannabis industry seed to sale data and related security and safety information. Further, as previously announced on October 17, 2017, the Company received USD $2.8 million composed of a cash receipt of USD $1.4 million and a promissory note which will be converted to cash on January 8, 2018, and further, it is expected that additional funds up to USD $12.2M will be received from Cartesian Capital Group controlled Intercontinental Potash Corp (USA) from New Mexico water sales. Those anticipated revenues are in connection with the Water Royalty, as more particularly described in the Company’s press release of October 17, 2017. Capital received will be invested in the Cannabis industry space and related technology concepts, including blockchain technologies as related to provenance, attestation, security, and trading concepts.”
Warrant Extension
Belgravia Capital further announces that it will modify the terms of warrants set to expire on December 14, 2017. Of this series, 16,950,000 are held by non-insiders and are exercisable at $0.11. The date of expiration has been extended to March 1, 2018, and the exercise price has been changed to $0.08.
Further, the Company will extend the maturity date of 2,967,738 warrants held by non-insiders and 318,928 warrants held by insiders of warrants expiring on March 1, 2018. The exercise price has been changed to $0.08 per warrant. The terms of only 10 % of the warrants held by insiders are being changed.
In accordance with Canadian Securities Exchange regulations, the expiration of all warrants will be accelerated to 30 days if the share price reaches or exceeds $0.11 for ten consecutive days (the “Acceleration Trigger”), with such 30-day period starting 7 days after the Acceleration Trigger. All other terms of the Warrants will remain unchanged.
About Belgravia Capital
Belgravia Capital International is focused on the provision of clearly value-added services to the international 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. Blockchain technology, with its ability to provide robust and immutable histories of product tracking and also low cost integrated data bases for the Cannabis industry, is an ideal value-added approach to generating profitable Cannabis production and distribution activities. Belgravia is also developing a royalty-streaming subsidiary.
Belgravia Capital intends to establish joint research and development partnerships with Canadian Licensed Producers operating under ACMPR regulations in Canada. The Company is also establishing commercial relationships with medical and recreational cannabis producers in the United States. Belgravia Capital has made an equity investment in cannabis operations in South America. As the Company grows, it plans to build a diversified portfolio in commercial-scale cannabis cultivators and related downstream cannabis industry providers. 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, Belgravia Capital, President & CEO, (416) 779-3268, mazodi@blgv.ca