Adamas One Acquires Minority Equity Stake in Artificial Intelligence Solutions Provider NexGenAI Solutions Group, Inc.

Adamas to incorporate AI-driven solutions to optimize manufacturing, marketing, branding and communications related to its development of Lab-Grown Diamonds

SCOTTSDALE, Ariz., May 31, 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, today announces the acquisition of a 9.99 equity stake in NexGenAI Solutions Group, Inc. (“NexGenAI”), which, through its subsidiaries and affiliate entities, offers AI-driven solutions aimed at revolutionizing business operations across various sectors.

As part of the all-stock transaction, Adamas will receive access to NexGenAI’s AI-driven solutions, which will help the Company streamline a number of its manufacturing, marketing, branding and communications processes. Adamas expects this partnership to help improve manufacturing output volume, create and manufacture new jewelry designs in its high-end Elle Jolie line and help streamline marketing activities that range from simple AI-driven communications on the Company’s website to spearheading targeted marketing campaigns.

Adamas One CEO Jay Grdina stated, “Artificial Intelligence is cutting-edge technology that is rightly gaining significant attention and traction both in the current business macroenvironment and in the culture as a whole. This investment and partnership allows us to strategically fold AI into our our business, with the goal to maximize output, efficiency, creativity, and value. NexGenAI features an impressive lineup of founding entrepreneurs with impressive track records. We believe that the benefits of strategic AI integration if successful, will result in measurable business success and shareholder value.”

"By leveraging the strategic capabilities of NexGenAI's artificial intelligence in our operations, our goal is to improve output and enhance efficiency for Adamas One. This practical integration of AI into the business framework marks a prudent step towards sustaining growth trajectory and fortifying our market position in the face of emerging technologies,” added Michael Woloshin, founder of NexGenAI Solutions.

About NexGenAI:
NexGenAI, through its subsidiaries NexGenAI Solutions Group USA and NexGenAI Solutions Group EAL, provides cutting-edge AI-driven solutions that revolutionize business operations across various sectors. By leveraging artificial intelligence, NexGenAI empowers companies to automate processes, optimize efficiency, and drive sustainable growth. For more information on NexgenAI go to Nexgenai.io.