THE ACQUISITION WILL SIGNIFICANTLY BOLSTER BDCI'S CANNABIS MANUFACTURING, CULTIVATION AND DISTRIBUTION CAPABILITIES.
- The Company holds LOI's worth over $20 million
- License values are on the rise.
- Name Change Filed with FINRA, ticker Request IVXX
COCONUT CREEK, Fla., Oct. 29, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Global Consortium, Inc. (OTCPINK: BDCI) is pleased to announce the Company will acquire a large California cannabis company that has the Permit needed to operate in the Cannabis business, and on a large scale.
Currently this company has LOI's to produce millions of dollars of Oil per month, some of the LOI's are for annual production while additional orders are calling in daily.
Due to the demand and growth of Global with this acquisition, the back log of orders is so great right now, Global is exploring new extraction equipment with the capability of producing 10 times the amount of Oil per day, than our current equipment.
The value of the 3 licenses held could be on the rise in December if the State of California has its way. The State is proposing a ban on licensing and branding agreements that would essentially prohibit white-labeling. This is a good thing for Global as all companies seeking to do White Labeling would either lose their brands or transfer them to us in exchange for a royalty fee, making our Company more valuable.
Having a 64,000 square foot building allows us the flexibility to manufacture a significant amount of product - in addition to our own distribution platform - we will be able to push products onto store shelves at a very high rate.
The Name and Ticker change has been resubmitted to FINRA with a ticker request of IVXX which translates to "420", although we can request up to 3 tickers there is no guarantee we will be assigned any of the 3 tickers we chose.
Even though the CUP's were granted in August for Manufacturing, Cultivation and Distribution, we are still waiting for our Certificate of occupancy to operate. The final modifications to the building for electrical and plumbing as requested by the City should be done shortly, and Global can call for a final inspection.
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