- Outstanding Shares to be under 1.4 billion after Closing.
- $26,000,000 Merger to close any day.
- Harvest to begin next week allowing for a significant increase in revenues.
COCONUT CREEK, Fla., Oct. 16, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE--Bahamas Development Corporation (soon to be known as Global Consortium, Inc.) (OTCPINK: BDCI) has mapped out a Closing structure that will cap the Outstanding Common shares under 1.4 Billion of which only 109 million are currently held at CEDECO as of October 12, 2018.
This week Global will complete a $26-million-dollar merger with operating assets within the Cannabis sector. This is the first of several mergers that will be completed over the next 6 months.
The Company withdrew its Name change until after the Closing to avoid confusion with multiple companies named Global Consortium. The name was temporarily changed back to Bahamas for the Closing only and will be resubmitted post-Closing, this measure will help expedite the name and ticker change with FINRA.
The company is pleased to announce that due to BDCI's healthy financial position, by the end of the First Quarter of 2019 with 3 Quarters of reported revenues the Company will be able to initiate plans to uplist to off the OTC, based on its Assets and Revenues. These where the metrics used by the Company to increase its Authorized rather than file for a Reverse Stock Split.
The farmer and our industry leading Consultant for the CO Hemp farm have decided to give the plants 1 more week to continue growing and start the harvest next week. The Harvester purchased by Global is in route from South Carolina and should arrive any day, watch for updated pictures on Twitter @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