Adamas (NASDAQ: JEWL), The Original Lab-Grown Diamond Company(TM), is a high-tech company that leverages proprietary technology to produce high-quality, single-crystal, lab-grown diamonds for jewelry and diamond materials for industrial uses. The company today announced its entry into a non-binding letter of intent (“LOI”) to acquire a key lab-grown diamond manufacturer, Flawless Allure Grown Diamonds, LLP (“FAGD”). “This acquisition will solidify our position as a leader in the lab-grown diamond industry based on our capabilities to vertically integrate, produce and market lab-grown diamonds,” said Adamas One CEO Jay Grdina. “Our goal has been to complete our ecosystem and become as self-sufficient as possible, and the acquisition of Flawless, one of the top diamond cut and polishers in the industry, completes our ability to control our end-to-end production, speed of production and time-to-marketing. This transaction represents a significant step in the execution of our strategy to ensure that we are well positioned in the market, with minimal to no shareholder dilution.”
To view the full press release, visit https://ibn.fm/3E5pq
About Adamas One Corp.
Adamas is a lab-grown diamond manufacturer that, in its facilities in Greenville, South Carolina, produces near flawless single-crystal diamonds for gemstone and industrial applications. The company holds 36 patents and uses its proprietary chemical vapor deposition (“CVD”) to grow gem-sized and smaller diamond crystals. Adamas One(TM) lab-grown diamonds have the same physical, chemical and optical properties as mined diamonds. The company’s controlled manufacturing processes enables it to produce very high-quality, high-purity, single-crystal colorless, near colorless and fancy colored Type IIA diamonds to suit a variety of industrial and gemstone applications. The company intends to market and sell its diamonds into the wholesale jewelry and industrial markets. For more information, visit www.AdamasOne.com.
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