Bahamas Development continues to push forward its Merger with Global Consortium, Inc.
September 28 2018 - 10:08AM
InvestorsHub NewsWire
Bahamas Development continues to push forward its Merger
with Global Consortium, Inc.
-
2 new Board members added
-
BDCI Board
approves $26 million
transaction
-
Name change filed with Nevada
Coconut Creek, FL
-- September
28,
2018 --
InvestorsHub NewsWire -- Bahamas Development
Corporation (OTCPINK:
BDCI) is finalizing its acquisition
of its affiliate company Global Consortium, Inc.
dba Cannabis
Consortium, Inc. through a reverse
merger.
Bahamas Development recently
added two new independent directors to its Board, earlier this week
a vote was held and the new member unanimously approved the
transaction valued at $26 million dollars.
The transaction value is
based on the conservative revenue
potential of each entity including pending Letters of
Intent for Indulge, future orders for Infused and the earning
potential of the Hemp farms in Colorado.
Indulge Oils |
$10,000,000 |
Infused
Edibles |
$6,000,000 |
Hemp Farm |
$10,000,000 |
As a condition of
closing Bahamas Development must change its name to Global
Consortium Inc. The filing has already been submitted with the
State of NV and the Company is now known as Global Consortium,
Inc., the filing with FINRA to change the name and obtain a new
ticker will be made next week.
More updates coming next week
including the official execution of the Merger Documents. The
3rd
quarter
financials will still be filed on a consolidated basis between
Global and BDCI.
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