Headlines

Lab-Grown Diamond Company Acquired

Adamas One is buying Scio.

Published

6 years ago

January 3, 2019

INSTORE Staff

Lab-grown diamond producer Scio Diamond announced that its assets are being acquired by Adamas One Corp.

In the deal, Adamas One will pay off Greenville, SC-based Scio’s secured debt, totaling $3.3 million, in the 18 months following closing, according to a filing with the U.S. Securities and Exchange Commission.

Jimmy Degroot

Smith and DeGroot Release ‘A Vendor Perspective’ Podcast Episode

Jimmy Degroot

Video: Split Sales Require Effort

Jimmy Degroot

The Business of Jewelry Podcast Special Edition (Part 2)

Nevada-based Adamas will also issue 350,000 shares of its common stock to Scio to settle Scio’s unsecured debt of $3 million.

And it will provide 900,000 shares to be distributed to shareholders upon liquidation of Scio.

Completion of the deal is subject to various condition, including approval by Adamas shareholders.

Scio was previously known as Apollo Diamond Corp.

IDEX Online notes that Scio produces its diamonds via the chemical vapor deposition (CVD) method.

click to Comment(Comment)

Up Next

Online Jewelry Seller Closes

Don't Miss

Late Rush Arrives to Rescue the Holiday Season

Retiring? Let Wilkerson Do the Heavy Lifting

Retirement can be a great part of life. As Nanji Singadia puts it, “I want to retire and enjoy my life. I’m 78 now and I just want to take a break.” That said, Nanji decided that the best way to move ahead was to contact the experts at Wilkerson. He chose them because he knew that closing a store is a heavy lift. To maximize sales and move on to the next, best chapter of his life, he called Wilkerson—but not before asking his industry friends for their opinion. He found that Wilkerson was the company most recommended and says their professionalism, experience and the homework they did before the launch all helped to make his going out of business sale a success. “Wilkerson were working on the sale a month it took place,” he says. “They did a great job.”