Lab-grown Diamond Maker JEWL (Nasdaq) Rises 10% After Announcing Initial Delivery of Colorless Diamonds

Adamas One Corp Announces Initial Delivery of Lab-Grown Colorless Diamonds

SCOTTSDALE, Ariz., Nov. 02, 2023 (GLOBE NEWSWIRE) — Adamas One Corp. (Nasdaq: JEWL) (“Adamas One,” “Adamas” or the “Company”), The Original Lab-Grown Diamond Company™, a high-tech company that leverages proprietary technology to produce high-quality, single-crystal, Lab-Grown Diamonds for jewelry and diamond materials for industrial uses, announces the initial delivery of colorless diamonds.

Adamas One’s extensive internal R&D efforts lead to the successful creation of D, E and F diamonds, which are considered to be colorless as determined by gem grading labs such as GIA, IGI, and EGL.

“This successful delivery of high-quality lab-grown colorless diamonds is due to our consistent drive to advance our diamond product offerings. There are only a handful of commercial lab-grown diamond manufacturers that have achieved this color standard, and we believe our proprietary machinery and processes provide us with a competitive advantage to output some of the finest lab-grown diamonds, not only in the jewelry industry, but also in the tech and industrial sectors,” commented Jay Grdina, Adamas One Corp CEO. “Colorless diamonds in the D,E, and F color range have been the goal for our lab-grown diamonds and we are delighted to announce that we are delivering to that benchmark, and are fulfilling the promise of the highest quality diamonds available.

“Strategically, as we have outlined in previous announcements, we intend to more fully vertically integrate and expand our production, as the market for lab-grown Diamonds is getting exciting with high levels of awareness and acceptance in the U.S. bridal category, as well as other jewelry categories. Current industry reports are showing lab-grown diamonds now represent more than 50% of diamond sales in the US,” concluded Mr. Grdina.

About Adamas One Corp.

Adamas is a lab-grown diamond manufacturer that produces near flawless single-crystal diamonds for gemstone and industrial applications, in its facilities in Greenville, South Carolina. The Company holds 36 patents and uses its proprietary chemical vapor deposition (CVD) to grow gem-sized and smaller diamond crystals. Adamas One™ lab-grown diamonds have the same physical, chemical and optical properties as mined diamonds. The Company’s controlled manufacturing processes enables it to produce very high-quality, high-purity, single-crystal colorless, near colorless and fancy colored Type IIA diamonds to suit a variety of industrial and gemstone applications. The Company intends to market and sell its diamonds into the wholesale jewelry and industrial markets. For more information, visit www.adamasone.com.

Not Mined. Not Fake. Just sped up perfection. ™

Forward-Looking Statements
This press release may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as “should”, “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” and “proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in documents that we file from time to time with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of the document in which they are contained, and Adamas One Corp. does not undertake any duty to update any forward-looking statements except as may be required by law. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

For more information contact:

Investor Relations
Scott Arnold, Managing Partner
516 222 2560

Media Relations
Jules Abraham
917 885 7378

Source: Adamas One Corp

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