Bayport International Holdings, Inc. Set to Expand Into Legalized Marijuana Sector
February 18 2014 - 6:35AM
Marketwired
Bayport International Holdings, Inc. Set to Expand Into Legalized
Marijuana Sector
TULSA, OK--(Marketwired - Feb 18, 2014) - Bayport International
Holdings, Inc. (OTC Pink: BAYP) is pleased to announce the
creation and incorporation of a new subsidiary to target the
Medicinal and Legalized Marijuana sector.
Bayport Medicinal Research, Inc. was recently incorporated in
Colorado with the sole intention of acquiring a business or
businesses specifically in the Medicinal and Legalized Marijuana
sector. To date we have identified several businesses
currently for sale which would fit into this segment of the
company.
The next stage is due diligence, determining if the sales price
vs earnings will substantiate this move, etc. We anticipate
that we will receive this information from the sellers forthwith,
as these businesses are currently for sale, and would provide an
easy transition into Bayport International Holdings, Inc. and for
Bayport to transition into the Medicinal and Legalized Marijuana
sector.
While the company has been investigating this sector for many
months, we have only recently decided to delve in. The
hesitation was entirely based on how the United States Federal
Government would respond to states like Colorado and Washington
after their legalization. On Friday, the Department of Justice
and the Financial Crimes Enforcement Network, a division of the
United States Department of the Treasury, issued a joint statement
and clear cut parameters allowing banks to do business with
Medicinal and Legalized Marijuana businesses.
The official release from FinCEN can be found below.
http://www.fincen.gov/statutes_regs/guidance/pdf/FIN-2014-G001.pdf
Over the last several weeks contacts have been made, and the
availability of funds in this sector appears to be great.
We will still remain in Gas and Oil as we feel that will always
be the foundation that this company is built on. As new
acquisitions occur in gas and oil we will make these
announcements.
About Bayport International Holdings, Inc.
Bayport International Holdings, Inc. is a company formed to
exploit the various precious minerals in the U.S. to acquaint the
public with practical investment opportunities in strategic metals
and minerals. Bayport International Holdings, Inc. is primarily
focused on oil and gas ventures, with holdings in precious metal
mining claims. Bayport International Holdings, Inc. is developing
mining and oil and gas properties with economic potential with the
aim of bringing such properties to commercial production. The
company's portfolio of properties is primarily located
Pennsylvania, and in the prolific western USA in Utah and
Texas.
www.BayportInternational.com
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.
Investor Relations Contact: Briggs Smith 813-438-5225
info@olibrigroup.com
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