TORONTO, May 11, 2018 (GLOBE NEWSWIRE) -- BELGRAVIA CAPITAL INTERNATIONAL INC. (CSE:BLGV) (OTCQB:BLGVF) (“Belgravia” or the “Company”) today announced that it has completed the strategic transition of ICP Organics, the fully owned subsidiary of Belgravia, to a cannabinoid-based dermatology ethical drug research and product development company. Further, the name of ICP Organics, the dermatology division of Belgravia, is being changed to Belgravia Dermatology Inc. (“Belgravia Dermatology”). The Company has also announced today that Sidney Himmel has been appointed as director of Belgravia Dermatology.
Belgravia Dermatology Inc.
Belgravia Dermatology Inc., previously, ICP Organics, and a wholly owned subsidiary of the Company, is now the medical division of Belgravia. On April 18, 2018, Dr. Sam Hanna, a well-known dermatologist with many years of medical and clinical research experience, was appointed Chief Medical Officer of Belgravia Dermatology. He is responsible for all medical aspects in the development of cannabinoid-based active pharmaceutical ingredients for dermatological conditions.
The focus of the Company will be on ethical drugs. Ethical drugs are defined to be those pharmaceuticals that are approved by drug regulators after reviewing scientific evidence of the product's safety, effectiveness, and quality. In Canada, approved ethical drugs are provided drug identification numbers by the Therapeutics Products Directorate (“TPD”). In the United States they are provided National Drug Codes by the Food and Drugs Administration (“FDA”). Before giving permission to sell a product, the TPD in Canada or the FDA in the United States, must see scientific evidence of the product's safety, effectiveness, and quality.
Sidney Himmel appointed Director, Belgravia Dermatology:
Mr. Sidney Himmel has been appointed Director of Belgravia Dermatology. The directors of Belgravia Dermatology are Mehdi Azodi, Chairman of the Board of Directors of the medical subsidiary, Dr. Sam Hanna, Chief Medical Officer, and Sidney Himmel. Mr. Himmel, a chemistry graduate, and previous president of Belgravia (at that time IC Potash) has previously worked in the investment industry as a biotechnology analyst, and biotechnology corporate finance specialist. Mr. Himmel is currently Chairman of Khiron Life Sciences Corp., a vertically integrated international medical cannabis company, and was prior to that, Chairman of Namaste Technologies.
Mr. Himmel has been a member of the American Chemical Society, and has written portions of, and was the editor of a book on Canadian Biotechnology companies, describing the biotechnology space, science, and financial aspects of numerous Canadian biotechnology companies. Mr. Himmel will be working closely with Dr. Hanna in the strategic approach to ethical cannabinoid and terpenoid active pharmaceutical ingredients for the treatment of unmet needs in medical dermatology.
Mr. Mehdi Azodi, President and Chief Executive Officer of Belgravia, and Chairman and President of Belgravia Dermatology stated: “We are pleased to be advancing our dermatology strategy and look forward to working with Sidney Himmel as an active director. Mr. Himmel was previously key in establishing the chemical processing of Sulphate of Potash at IC Potash. Further, he has very strong capabilities in biotechnology development and related business strategy and financing. His input will be of significant value as the Company continues to define its pre-clinical approaches in the areas of acne, atopic dermatitis, and other skin conditions, where there are strong indications that cannabinoids, terpenoids, related molecules, and derivative products may be of critical importance. The Company is progressing in molecular target evaluation, and the planning of Intellectual Property and Patenting models. We believe that true biotechnology will substantially enhance the medical cannabis space.”
Mr. Azodi continued: “Due to the uniquely challenging aspects of United States based cannabinoid and terpenoids research, the advantaged developing legal characteristics of such research and development in Canada, provides unique opportunities to create substantial value on an accelerated basis to Belgravia shareholders. Canada is very well positioned internationally to successfully carry out the critical role of research and development in Cannabinoid dermatology, and this will be a major focus for our Company. We also look to developing value-added partnerships in this space internationally. Belgravia has committed capital to fund substantial development towards drug target and drug candidate identification and evaluation. We will look to add senior technical staff in the areas of chemistry, drug target testing, and cell biology and clinical dermatology in Q2 2018. We believe that considerable growth will be generated equivalent in multiples of capital to be spent.”
About Belgravia
Belgravia Capital International Inc. is focused on its three core business divisions: Incubation, Investments and also Royalties. Belgravia will also develop new companies with a focus on the legal medical cannabis industry. The Incubation division will provide services to support the development of early-stage companies in the legal Cannabis space and other technologies as well as mineral and resources. Belgravia Holdings, the Investments division, invests in various private and public companies with a focus on legal medical cannabis, technology, and, on an opportunistic basis, resources.
For more information, please visit www.belgraviacapital.ca.
Forward-Looking Statements
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
Belgravia Capital International Inc.
(416) 779-3268
mazodi@blgv.ca