Blue Diamond Ventures Inc (OTCMKTS:BLDV) Surges On Acquisition News

Blue Diamond Ventures Inc (OTCMKTS:BLDV) has shot back to life, after a long period of underperformance depicted by subdued trading activity in the market. The stock is up by more than 70%, in response to the company completing the acquisition of Harvest 360 Technologies.Blue Diamond Ventures Price AnalysisThe acquisition marks the company’s first attempt into the multi-billion sector, as part of what appears to be a reorganization drive. With the acquisition, the company gains access to valuable assets that should allow it to gain a head start to a sector that is growing at an impressive rate, with enormous opportunities for growth.It does not come as a surprise that investors have continued to push the stock up the charts after a period of subdued activities. High turnover traded shares in the market attest to renewed investor interest, expected to continue supporting further movements on the upside. BLDV Daily ChartAfter initially rallying by more than 100% to the $0.009 mark, Blue Diamond Ventures has pulled back in what appears to be a profit-taking play. The minor pullback to the $0.007 mark could as well have presented an opportunity for investors who missed out, on the initial spike to join the rally.A rally followed by a close above the $0.009 mark should reaffirm the emerging uptrend, opening the door for the stock to continue edging higher.BackgroundBlue Diamond Ventures is a diversified company that focuses on opportunities in various industries, including agriculture and renewable energy. The company also offers consulting services on design land planning as well as site development, through its subsidiary Blue Diamond Consulting LLC. In the recent past, the company has sought to diversify, its operations having set sights on the cannabis sector.Why Is Blue Diamond Ventures Exploding?Blue Diamond Ventures is exploding in the market on announcing the acquisition of Harvest 360 Technologies. With the acquisition, the company gains access to a powerful team that will spearhead its operations in the sector, in addition to a valuable intellectual property portfolio.Based in Colorado, H360 Technologies boasts of multiple cannabis operations in New Jersey as well as Missouri, Colorado, and Michigan. One of the critical assets that H360 Technologies is bringing into the deal is Athena Protocol, which describes a battlefield treatment using a unique delivery system.According to the Chief Executive Officer, Todd Scattini the acquisition has the potential to generate significant revenues for Blue Diamond Ventures as well as shareholder value going forward.Management ChangesUnder the terms of the agreement, Scattini is to join Blue Diamond Ventures leadership team and take over as the CEO. Blue Diamond Ventures current CEO Joss Alder is to take over as the Chief Operations Officer of the combined company. In Addition, Blue Diamond Ventures is to increase its stakes in Cann10 North America from 25% to 49%.

“Blue Diamond provided a platform to expand H360,” said Todd. “Josh Alder and his brother Jonathan are providing experience in consulting, project management and technology implementation that complements our highly skilled, motivated group. My team has been working with BLDV for almost two years, and we are confident in this transaction," said Mr. Scattini.

Clement Hayes, one of the H360 founders, is to take over as the general counsel given his vast experience when it comes to cannabis regulation and laws. He is also to oversee ongoing efforts that seek to ensure Blue Diamond Ventures is in compliant with SEC requirements when it comes to the filling of outstanding reports.What's Next For Blue Diamond Ventures?A spike in share price, as well as trading activity, does not come as a surprise as Blue Diamond Ventures pursues opportunities in the cannabis sector. The acquisition of Harvest 360 Technologies is a milestone achievement that diversifies the company’s business empire into an industry with enormous opportunities for growth.Given that the acquisition of Harvest 360 Technologies is already priced into the current share price, Blue Diamond Ventures may have to serve new catalysts if its share price is to continue skyrocketing. The stock is still flirting with all-time low despite the recent spike.In addition, the company needs to come out clear and show how it intends to generate revenues as well as shareholders as its shifts attention into the cannabis business. Until then, the stock looks set to continue experiencing wild swings in the market.We will be updating our subscribers as soon as we know more. For the latest updates on BLDV, sign up below!Disclosure: We have no position in BLDV and have not been compensated for this article.