DALLAS, Nov. 21, 2016 (GLOBE NEWSWIRE) -- Bayport International Holdings, Inc. (Other OTC:BAYP) announced today that James Porter has made the decision to retire and is stepping down as President of Bayport International Holdings, Inc. Gail Porter will be leaving the company as well. Effective immediately, Clay Franks has been appointed as the new President/CEO. The company is also actively in discussions with new candidates to fill new directors and officer positions.
Mr. Franks stated, “Due to the current business climate, attractive oil and gas deals are minimal at this point and we feel that it is in the best interest of the company and our shareholders to go in a completely new direction.”
Bayport International Holdings, Inc. is a company that up until recently has focused primarily on precious metals, rare earth and oil and gas ventures. The company will begin immediately to diversify as part of its overall strategy going into 2017.
Mr. Franks also stated, “On October 10, 2016, we put out a press release stating that we were looking for reverse merger and/or acquisition candidates and we’ve been pleased with the response. A couple of the opportunities that have been presented to us are intriguing and we plan to take advantage of some of those opportunities in the very near future.”
Mr. Franks finished by saying, “The timing could not be more perfect for a change in direction. We have very little debt on the books. Our share structure has recently stabilized and the opportunities we’ve been presented have tremendous upside. We ask for your support during this transition and we look forward to sharing more on our future business strategy in the next few days.”
About Bayport International Holdings, Inc.
Bayport International Holdings, Inc. is a holding company active in Oil & Gas, strategic metals, precious minerals and energy production. The company is also pursuing opportunities in the legal cannabis industry. The objective of the company is to provide diverse, yet practical investment opportunities to its shareholders.
Cautionary Note Regarding Forward-Looking Statements
This press release and the statements of representatives of Bayport International Holdings, Inc. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, Bayport's ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.