Blue Diamond Ventures, Inc. (OTC Pink: BLDV) is engaged as a diversified holding company. Shares of the holding company are surging 47.06%, through early trading on Friday, September 22, 2017. Over the past month, Blue Diamond Ventures, Inc. has seen average daily volume of 24.52 million shares on the day. However, volume of 123.83 million shares or dollar volume of $309,575, has already exchanged hands on the day.
Shares of Blue Diamond Ventures, Inc. are rallying today, after the company announced it has developed a cannabis real estate fund through its subsidiary, Innovative Growth Group, LLC. The fund is planning to build up to 12 cannabis facilities across North America. Here is the full press release detailing of the cannabis real estate fund:
Blue Diamond Ventures, Inc. Press Release:
September 22, 2017 – DENVER, COLORADO – Blue Diamond Ventures Inc. (OTC PK: BLDV)
BLDV Fund will build up to 12 facilities in the USA and Canada.
The Innovative Growth Group LLC (previously Michigan Growth Fund) recently announced its first project in Canada with Quality Green Inc., this is the first in a series of projects that will utilize the same build-to-lease model and private placement documents.
The BLDV Innovative Growth Group is slated to construct up to 12 Cannabis Cultivation facilities in the next two years, and is actively engaged in securing additional sites. Blue Diamond will use RealNex® sophisticated fund management software to insure compliance, and each
project will have its own fund manager to ensure accountability to BLDV. The
company is currently interviewing fund managers for the Canadian project above, and will start to accept funds for investment following that appointment.
The cannabis cultivation facilities will be on triple net leases, to licensed cannabis tenants. Each facility will be setup as its own Special Purpose Entity (SPE); Blue Diamond Ventures will own the facilities and provide oversight / management for the properties. Members of the SPE’s will receive yearly dividends, based on a percentage of the total lease revenue. Most of the leases call for the buildings to be sold to the operator within the first 5 years, with distribution of profits to the members and investors.
In the Michigan Market, Blue Diamond already has specific locations and tenants lined up to lease space. The company has been actively engaged in negotiations with municipalities, operators, and stakeholders in Southwest Michigan for over a year and is now waiting for the State to finish the final regulations that will allow the company to close on multiple projects.
Each facility will generate income based on size, space and local conditions. A single project is expected to generate between $200K and $500K in its first year of operation, and total revenue from the fund over 5-years is estimated to be approximately 15.5 Million USD.
Blue Diamond Ventures, Inc. is a diversified customer centric Management / Holding Company; Blue Diamond Ventures, Inc. seeks opportunities in various markets and is driven by critical thinking, the scientific method and compassionate ways to deliver sustainable results.
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.