Annual revenue of the combined operations could exceed $100 million in fiscal 2019
COCONUT CREEK, Fla., June 01, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire – Bahamas Development Corporation (OTCPINK:BDCI) subsidiary company Global Consortium, Inc., has made an offer to purchase its partners interests in all of the various cannabis and hemp projects being worked on.
The transaction will be paid for with cash and stock, the cash portion will be performance based.
A condition to completing the transaction is for our current president to resign to make room for one of our Partners to assume the role of president and director. This person has years of hands on experience in manufacturing, and a vast business background that will add depth to the management of Cannabis Consortium. A second position will be created, vice president of Mergers and Acquisitions. The person filling this spot has years of experience within the cannabis sector, and has been key to finding the acquisitions that have been completed.
Upon completion of a successful transaction, Cannabis Consortium would gain control over all the revenue of the following operations:
Indulge Oil
Infused Edibles
A second oil distillate operation
CBD oil distillate
Farms in CA (CO and NY waiting on final contracts)
The annual revenue of the combined operations listed above could exceed $100 million in fiscal 2019.
The two companies are meeting today to work out the details of the acquisition.
Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, estimates of services and equipment markets, release of corporate apps, growth of platform, target markets, product releases, product demand and, business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also consider that any investment in securities is at risk. Details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure on otcmarkets.com .
For additional information about this release please contact: Investor Relations:
Matt Dwyer matt@cannabisconsortium.net www.cannabisconsortium.net 954-906-0098
