R & D base in Puerto Rico signs $4.2 Million USD contract with Green Orchard Labs.
Denver, Colorado--(Newsfile Corp. - May 27, 2020) - Blue Diamond Ventures, Inc. (OTC PINK: BLDV) today announced that Harvest 360 Labs Inc. (H360 Labs), a wholly owned subsidiary of BLDV, formed in Puerto Rico, has entered into a Trade-Mark & Know-How Agreement, related to cannabis analytical testing with Green Orchard Labs, LLC in Chillicothe, Missouri, to provide specific services and process knowledge in exchange for a projected $4.2 Million USD in royalties and fees over 6 years that will be generated by a new medical cannabis testing facility. BLDV anticipates Missouri to be a leading, successful medical cannabis market, with this business model being used for additional cannabis labs in other states.
Harvest 360 Technologies wrote the winning application for the Green Orchard Labs team back in September, and has now put together a testing technology package combined with cannabis industry integration that will position the new lab in Missouri to be one of the leading testing labs in the state. The science team at Green Orchard welcomes the partnership as a path for expansion that comes with access to the R&D being done in Puerto Rico. The new lab in Missouri will be rebranded as H360 Labs.
Additionally H360 Labs in Puerto Rico is in the final stage to gain a full R & D certification. BLDV has been working with the regulators in Puerto Rico to form a public-private partnership to support the new CBD Hemp program launched by the government. "The Puerto Rican Government recognizes that the opportunity to develop a robust CBD Hemp business benefits the island and the 50 contiguous states" says Joshua B. Alper CEO of BLDV, "Our R&D facility in Puerto Rico will support the suite of expanded services provided to the test labs using our Intellectual Property ("IP"), while giving accredited investors access to unique tax credits."
"We have been focused on Puerto Rico for the last year" said David Serrano, Chief Business Officer at BLDV, who will also be acting as interim Lab Director for H360 Labs, "with the specialized products and technologies we have coming out of Puerto Rico, and access to global markets with the IP we currently have and are developing, we see the R&D facility driving the profits of the company."
The project is being funded by a new 506(C) offering created for H360 Labs by Block45 Legal, that will raise $2.5M USD for the construction of the lab in Missouri and the R&D Facility in Puerto Rico.
About Harvest 360 Labs Inc. - The mission of Harvest 360 Labs Inc. is to provide technologically advanced expertise in analytical, regulatory, and compliance services to the emerging hemp and cannabis markets. H360 Labs provides testing, and innovative solutions to cultivators, processors, and manufacturers of a wide array of products in order to set the conditions for and support the agricultural, scientific, and medical communities.
About BLDV: - Blue Diamond Ventures, Inc. seeks to partner with individuals and companies that share a common synergy, mission and vision to enable products/services that are produced, delivered and consumed utilizing fewer natural resources, providing a sustainable alternative to traditional products on the market today. As a diversified customer-centric Management / Holding Company; Blue Diamond looks for opportunities in the Cannabis & Hemp industries 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. Joshua B. Alper (844) 637-6377
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