Bahamas Development Corp. (BDCI) Reduces Outstanding Shares by 50 million.
May 16 2017 - 7:30AM
InvestorsHub NewsWire
The Corporation in the Bahamas has been established.
WEST PALM BEACH, FL -- May 16, 2017 -- InvestorsHub NewsWire --
Bahamas Development Corporation (OTC
PINK: BDCI) announces that is has reduced its number of
Outstanding shares of its Common stock by 50 million. The shares
were issued last year and returned at no cost to the Company. The
reduction brings the total Outstanding shares of the Company to
146,187,610.
Addditionally, The Company was informed by its counsel in the
Bahamas the corporation that will be used for its operations on the
island of Freeport has been approved by the government and duly
incorporated. This is a significant step in setting up operations
on the island. In a few week the Company will return to the island
at which time the business license application will be submitted to
the Grand Bahama Port Authority (GBPA). The Company was already
told by a representative of the GBPA that they see no reason not to
believe that a license would be granted for its t-shirt
manufacturing facility.
The Bahamian apparel business has a built-in customer base on
the Island of Freeport. The Government is searching for ways to
keep more money on the Island, reduce imports, and have Island-made
products saleable to the 500,000 plus tourists that visit each
month. If the Island operation just services the local market it
will add over a $1 million a month in revenue to the bottom
line.
For additional information about this release please
contact:
Investor Relations:
561-247-9202
info@bahamasdevelopmentcorp.com
www.nativeoutfitters.com
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