Adamas One Corp., the publicly traded lab-grown diamond company created from Scio Diamond, has entered into a nonbinding letter of intent to acquire another manufacturer, Flawless Allure Grown Diamonds, for its cutting facilities.
“Our goal has been to complete our ecosystem and become as self-sufficient as possible, and the acquisition of Flawless, one of the top cut[ters] and polishers in the industry, completes our ability to control our end-to-end production, speed of production, and time-to-marketing,” said Adamas CEO Jay Grdina in a statement.
Financial details were undisclosed.
In addition, Adamas has appointed media executive Peter Cohen as vice president of business development. He will focus initially on the use of lab-grown diamonds in the production of semiconductors for industrial and technology applications, and then on the company’s soon-to-be-launched Elle Jolie jewelry line. Cohen will report to Adamas chief operating officer Gerald McGuire, who has extensive experience in the semiconductor field.
Cohen previously served in senior positions at multiple media and content organizations, including Dancestar Ventures, Anthem Sports & Entertainment Corp., HBO, CNN International, AMC Networks, ACTV, The Box/MTV2, Fashion TV, and Billboard Live. He holds a bachelor’s degree in human ecology from College of the Atlantic and completed postgraduate work in cetology and behavioral psychology at Boston University.
“Having worked closely with [Peter] in multiple capacities for over a decade, I am confident Peter has the significant reach, especially across the media and entertainment landscape, that will help Adamas One substantially expand awareness and market penetration,” said Grdina.
(Photo courtesy of Adamas One)
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