Blue Diamond Ventures, Inc. (OTCMKTS:BLDV) Offers Updates on Michigan Growth Fund

Blue Diamond Ventures, Inc. (OTCMKTS:BLDV) reported the release of Michigan Growth LLC, which will support the construction of numerous cannabis real estate assets, then lease the buildings to approved Commercial Cannabis Cultivators in South West Michigan. The company has adopted an innovative approach to Cannabis Real Estate using Triple Net Leases, Public Share involvement and Medical Focus. The fund is expected to raise around $10 million.

The details

Blue Diamond shares released to investors for this assignment will be issued with a 6-year restriction, the investment is in a restricted association in the buildings themselves and the equity showcases a parallel path for shareholders to benefit. The programs comprise a projected twelve assignments, along the Route 12 corridor to Niles MI from New Buffalo.

This project is anticipated to offer economic growth and much required jobs for this region. Josh Alper the CEO of Blue Diamond, reported that in the past numerous months, they have been a part of municipal meetings, met with city planners and city managers from numerous villages and towns. As a result, they have been able to list numerous sites apt for medical cannabis facilities, and they are actively chasing those opportunities.

Moreover, there are numerous leases lined up, all set to rent space once these buildings are completed. Blue Diamond CEO added that he has reviewed the locations that were designated as possible sites for the Michigan Growth to establish medical cannabis real estate assignments on, and there exists synergy between the cities involved in this initiative.

The company expect to create type of a “Emerald Rectangle” in area of Southwest Michigan. This sort of project essentially plays to company’s strengths as a firm. Blue Diamond is working with Jillian Sidoti to advance the Michigan Growth investment plan and they anticipate to release the fund in the month of July.