- BDCI Files Name and Ticker change with FINRA
- Confirmation of No Reverse Stock Split
- Merger in final stages to close within 1 week valued at $26,000,000
- Infused Edibles is opening its first licensed store this month
COCONUT CREEK, Fla., Oct. 12, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Global Consortium, Inc., f/k/a Bahamas Development Corporation (OTCPINK: BDCI) has filed its application with FINRA to change the Company's Name and Ticker, approval times are usually within 15 calendar days from submission.
Global is pleased to announce there will be no reverse stock split, by slightly increasing its Authorized shares from 1 billion to 1.750 billion shares to have enough restricted shares in treasury to cover this and future transactions. The purchase price will be decided based on the Closing Bid price on the day before the Closing.
Based on the Assets and Operations being acquired everyone felt the Company should see an increase in its value rather than prematurely file for a Reverse Stock Split.
Global Consortium, Inc. is the Florida private company selling all of its assets to BDCI. The Company will cease to exist after the merger leaving Global Consortium, Inc., the NV corporation as the surviving entity.
Infused Edibles has its first named licensed store opening this month. As per the terms of the agreement 30-40% of the store's inventory must be Infused products. Pictures are available on our Twitter feed @Cannabisconsort
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
Twitter: @CannabisConsort
954-906-0098