CANNABIS
CONSORTIUM IS MERGING
ALL OPERATIONS UNDER BAHAMAS DEVELOPMENT
CORPORATION
-
Approximately Asset Value
$38,400,000
-
Estimated Revenue for 2018
$5,000,000
-
Estimated Revenue for 2019
$100,000,000
Coconut Creek, FL -- August
21, 2018 -- InvestorsHub NewsWire -- Bahamas Development
Corporation (OTCPINK:
BDCI) affiliate company Global Consortium, Inc. dba Cannabis
Consortium and it partners have all agreed to merge all of the
operations and assets under Bahamas Development
Corporation.
BDCI filed its 2nd Quarter
financial report last night and within the report it details all of
the assets and operations that will be merged into Bahamas
Development as wholly owned divisions.
The group has also agreed
to change the name of the Company to Global Consortium,
Inc.
The operations of Global
Consortium will merge in first, which includes the Hemp farm in CO,
Infused Edibles, and Indulge Oils. These operations will be merged
effective as of July 1, 2018, and will file consolidated financials
beginning September 30, 2018.
Once Global's operations
have merged in then the Partnership company ToMarRa, LLC a Nevada
corporation, will merge its assets into the
Company.
Upon complete consolidation
of all operations, the conservative estimated value of the assets
will be $38,400,000 as explained within the 2nd Quarter financial
report.
The conservative estimate
of revenue for 2018 is $5,000,000 and the conservative estimated
revenue for 2019 is $100,000,000.
Further details have been
explained within the June Quarterly financials as posted to
OTCMarkets.com.
Bahamas Development
Corporation, in compliance with SEC regulations, may in the future
use social media outlets like Facebook or Twitter and its own
website to announce key information in compliance with Reg
FD.
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