BELGRAVIA CAPITAL INTERNATIONAL announces LOI with R&D Pharma Corp.
TORONTO, Jan. 04, 2018 (GLOBE NEWSWIRE) -- BELGRAVIA CAPITAL INTERNATIONAL INC. (CSE:BLGV) (OTCQB:BLGVF) ("Belgravia Capital", "Belgravia", or the "Company") is pleased to announce the execution of a letter of intent with R&D Pharma (the "Letter of Intent"), to collaborate in the development of Belgravia's distributed and decentralized blockchain medical cannabis provenance and quality attestation database.
R&D Pharma Corp., a Canadian private company, is building a vertically integrated medical cannabis business in the Country of Jamaica. Jamaica has sophisticated medical cannabis laws in place consistent with the best in class laws of Canada and Israel. Further, well recognized international regulated cannabis production and distribution companies are establishing footholds in Jamaica due to the recognized quality of the strains and, also Jamaica's history of medical research in this space. For example, Dr. Henry Lowe of Kingston, Jamaica, a specialist in medicinal chemistry, a chemistry-based discipline involving biological, medical and pharmaceutical sciences, has contributed 50 years to the fields of biotechnology ethical drug development, including drug regulatory validated cannabis sativa products, for conditions such as nausea, pain, appetite stimulation, motion sickness, inflammation, and high ocular pressure which can lead to glaucoma.
The provisions of the Letter of Intent with R&D Pharma include:
- R&D will provide validated input data regarding concentration of Cannabinoids in products, and other active ingredients, and levels of any impurities which will be required to be consistent with established standards;
- R&D will provide references on the blockchain will be provided to off-chain documents including hash indexes to reports of independent analytical labs for microbiology, heavy metals, pesticides, and metabolites;
- Belgravia will invite R&D to be a permissioned node on the distributed blockchain; and
- Revenue sharing models will be negotiated in due course, and as business cases are further evaluated, and a significant number of additional industry players, regulators, and consumer conduits are established through social media marketing and other consumer outreach forums.
It is anticipated that medical cannabis provenance and attestation data will be encapsulated on the blockchain in both native and encrypted format, and that detailed supporting hash-proven documents will be searchable through hash indexes on the blockchain-validated blocks associated with unencrypted identifiers of products, strains, and other relevant parts of the seed to sale production blockchain. The blocks will by searchable by domestic and international consumers, governments, and industry players and other interested stakeholders or parties.
Mr. Mehdi Azodi, the President and Chief Executive Officer of Belgravia stated: "As we have previously communicated we are advancing carefully thought out plans for the development of Blockchain distributed databases as a service to retail consumers, and as a value-added technology for the medical cannabis industry. This work will require the building out of a team of conceptual thinkers in blockchain business applications, programmers, and marketers to both industry players and consumers. Well thought out user interfaces will need to be developed to support easily accessible consumer searches from smart phones and point of sales terminals, as well as personal computers, where software can be downloaded to nodes. Although some degree of decentralisation will be maintained in the structure of the medical cannabis attestation blockchain, a trusted and fully disclosed consortium will grant read write permissions to other participants. The consortium will be subject to thorough governance and audit. Consortium blockchains will be standard for blockchains being developed in various industries where the intention is to provide consumer-friendly transparency and social responsibility to consumers, regulators, governments, and all other stakeholders. Customers and the public will be able to validate inputs by accessing off-chain database documents, likely for a reasonable fee. Belgravia is proud to be part of this industry and these developments."
Mr. Azodi continued: "In addition to these developments, the company has invested approximately $675,000 as it commences to build a portfolio of strategic research and development investments in companies which will provide value-added services to Belgravia in terms of profitable ideas and relationships. The Company plans to establish a royalty division."
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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