Adamas One Corp. (NASDAQ:JEWL) has hailed its first year as a publicly traded company, adding prospects for its lab-grown diamonds in the semiconductor sector were high.
In an update to shareholders, CEO Jay Grdina said the company was eyeing another strong year after having grown its staff numbers and carried out factory upgrades following its listing on the Nasdaq in late 2022.
“We have worked to put ourselves in a position to take advantage of the growth in the market and place ourselves as a dominant manufacturer and distributor in the US and international lab-grown diamond markets,” he said.
This includes both the jewelry and technology sectors, with Grdina adding the firm’s confidence in adapting lab-grown diamonds for the semiconductor industry was high.
“We want to make sure that we are in the forefront of that industry as well as the loose and finished goods jewelry industry.”
Grdina said such a move was among the company’s key initiatives, with plans to acquire a lab-grown diamond wholesaler in the New York area also set to place Adamas among the world’s most vertically integrated companies in the sector.
Cappello Global Capital has been hired to aid with raising funds for prospective takeovers, which Adamas said would have minimal or no dilutive effect on current shareholders.
“Awareness of lab-grown diamonds has grown exponentially over the past year, and we believe that now is the right time to increase our public relations profile and leverage that awareness,” Grdina commented.
“Being a top US-based manufacturer puts us in an excellent position to take advantage of the timing in order to get our name and brand out to the domestic and international consumers.”
Shares were up 11% at US$0.50 in pre-market trading.