Adamas (NASDAQ: JEWL), The Original Lab-Grown Diamond Company(TM), is 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. The company today announced its entry into a non-binding letter of intent (“LOI”) to acquire a key lab-grown diamond manufacturer, Flawless Allure Grown Diamonds, LLP (“FAGD”). “This acquisition will solidify our position as a leader in the lab-grown diamond industry based on our capabilities to vertically integrate, produce and market lab-grown diamonds,” said Adamas One CEO Jay Grdina. “Our goal has been to complete our ecosystem and become as self-sufficient as possible, and the acquisition of Flawless, one of the top diamond cut and polishers in the industry, completes our ability to control our end-to-end production, speed of production and time-to-marketing. This transaction represents a significant step in the execution of our strategy to ensure that we are well positioned in the market, with minimal to no shareholder dilution.”

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About Adamas One Corp.

Adamas is a lab-grown diamond manufacturer that, in its facilities in Greenville, South Carolina, produces near flawless single-crystal diamonds for gemstone and industrial applications. The company holds 36 patents and uses its proprietary chemical vapor deposition (“CVD”) to grow gem-sized and smaller diamond crystals. Adamas One(TM) 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.

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