CANNABIS CONSORTIUM PARTNERS WITH A GROUP THAT WILL OWN A DISPENSARY IN DOWNTOWN LOS ANGELES, CA
March 02 2018 - 10:20AM
InvestorsHub NewsWire
CANNABIS CONSORTIUM PARTNERS
WITH A GROUP THAT WILL OWN A DISPENSARY IN DOWNTOWN LOS ANGELES,
CA
Coconut
Creek, FL
-- March 2, 2018 -- InvestorsHub NewsWire
-- Bahamas Development
Corporation (OTC PINK:
BDCI) subsidiary company Cannabis
Consortium, Inc., has partnered with a group that will own a
percentage of a Pre-ICO marijuana dispensary.
The dispensary
currently operates in a under 1,000
thousand square
foot and
is relocating
to
an
8,000 square foot facility. The
new dispensary has current licenses for Retail,
Manufacturing, and Cultivation.
There
are approximately
160
Pre-ICO licenses in the Los
Angeles and new applications will not be available for about 18
months. Pre-ICO refers to medical
marijuana dispensaries that were open before September 14, 2007,
when the Medical Marijuana Interim Control Ordinance (ICO) went
into effect. The ICO is a city ordinance that prohibited new
dispensaries from opening and only allowed Los Angeles dispensaries
already in existence to remain open, provided they registered with
the City Clerks' Office prior to Nov. 13 of the same
year.
The
Manufacturing license
that comes with
the new dispensary is required to produce oil,
edibles and concentrates. The Manufacturing
license
is vital
for
Cannabis
Consortium to produce and sell its own branded patented products
throughout California.
The group
Cannabis Consortium is partnered with has multiple
years of operational experience
in the MJ sector and access to deals
that are not publicly advertised. The initial company Cannabis
was going to partner with to sell its products through is the lead
partner in this group.
The group
is investigating the potential
of several
operating dispensaries in order to purchase percentages
that can range up to 50%
ownership.
About Cannabis
Consortium
Cannabis Consortium:
Cannabis
Consortium is actively pursuing five (5) revenue streams
in the cannabis
marketplace:
- Specialty items
- Foodstuffs/Edibles
- Beverages
- Investment
- Research/New
Products
The first three
(3) revenue
streams are comprised of edible products and ancillary items
related to the edible marketplace. The 4th stream Investments
into other
private cannabis operations. The final stream,
research, will focus on the medical
benefits of CBD oils for the treatment of animals.
Trans Global
Group, Inc. is the majority shareholder of BDCI and has an
exclusive marketing agreement with Cannabis Consortium for its
specialty products.
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
954-905-9896
Source: Bahamas Development Corporation