DENVER, CO--(Marketwired - Dec 1, 2016) - Blue Diamond Ventures Inc. (OTC PINK: BLDV) today announces its Cannabis Real Estate Strategy for 2017, including projects in Michigan, Oregon and Canada.
On September 21, 2016, Gov. Rick Snyder of the State of Michigan signed a three -bill package to establish a new Medical Program for Commercial Cannabis. The new set of laws will give local municipal governments the authority to regulate the location and number of medical marijuana licenses that will be allowed to operate in their jurisdictions. Separate licenses f or Provisioning Centers, Infused Product Manufacturing and Cultivation will be offered by the state of Michigan.
Josh Alper, CEO of BLDV, said, "Once the new bill was signed into law, we quickly called our management together and engaged with the staff of Michigan Plant Technologies LLC (MPT), a wholly owned subsidiary of BLDV, to begin structuring a model that would leverage the Construction Management and Project Management skills of Blue Diamond Consulting (BDC) and potentially create a new home for MPT to expand their existing State Licensed Food Processing Facility into a Commercial Edibles Facility."
The BLDV plan calls for the building of multi-tenant facilities in Michigan to be designated by local municipal ordinance with a special use permit to ho use Cultivation as well as Kitchen/Extraction spaces. Licensed operators will be able to document that local approval is included in their lease when they submit their application to the state. "We expect to build several buildings over the coming months," said Josh Alper. "The new home of MPT is important, but the construction and ownership of the facilities is the real interest of Blue Diamond Ventures Inc. (OTC: BLDV)
"Blue Diamond helps to solve one of the central problems with the Michigan program; our model provides municipalities with quality construction and vetted compliant cannabis operators," said Jonathan B. Alper, Landscape Architect and General Manager of BDC. "We expect to have the leases signed before construction begins on the first building this spring." BDC can also assist tenants with other aspects of their regulatory compliance with the state
BLDV along with BDC has received first stage approval from a city in Southwest Michigan not far from the current MPT kitchen in Three Oaks, MI, to be the site of the first structure. BDC will be the Project and Construction Managers, and through a Fund, that is in the process of being established, BLDV will finance and ultimately own the facility. Lease payments from the tenants will be used to repay the investors of the fund and provide positive cash flow to BLDV. Total construction cost of the first building is estimated to be 1.2 Million USD.
Other real estate transactions include ongoing talks regarding the acquisition of AMS farms in Ontario, Canada, and purchase of property in Bend, Oregon for a Tier II License by a client of Blue Diamond Consulting.
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 prod uced, 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 Ventures, Inc. seeks opportunities in various markets and is driven by critical thinking and the scientific method.
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.