- Building sits in the Green Zone
- Property has been retrofitted with fencing and cameras
Coconut Creek, FL -- April 13, 2018 -- InvestorsHub NewsWire -- Bahamas Development Corporation (OTCPINK: BDCI) subsidiary company Cannabis Consortium, Inc. has made an offer to purchase a 2,700 square foot building in a lot in the Green Zone in Northern California.
The building will be leased to Cannabis' operational Partners to run Infused Edibles www.infusededibles.org.
Infused Edibles granted Cannabis and its partners a Master License Agreement for the entire United States and its Territories. Cannabis and its Partners were able to obtain a Master License Agreement for the entire United States and its Territories for THC infused Edibles, not just California as previously disclosed. Our Partners are Executing the Master License Agreement today and wiring the fee.
After the building has been placed under contract, Temporary licenses will be applied for so the Edible Company can extend operations to that facility. The timeline for obtaining the temporary license is expected by the end of May.
The building will be the first of many tangible assets owned by Cannabis and leased back to its Partners at appropriate market rates for buildings in the cannabis sector.
Cannabis Consortium does not own or operate any licensed cannabis operation. Cannabis Consortium is entitled to receive 15% of the annual net revenue collected by its partners from every project it is involved with. The Company is also entitled to receive 15% of the proceeds its partners receive should any company be sold. Cannabis acts as a consultant in these transactions and is not involved in any day-to-day operations or decision making for any of the licensed cannabis operations. Cannabis may own assets in the future that are leased to various licensed entities operating in the cannabis sector. Cannabis will receive rent from any asset it leases to the cannabis sector.
About Cannabis Consortium:
Cannabis Consortium is actively pursuing five (5) revenue streams in the cannabis marketplace:
- Specialty items
The first three (3) revenue streams are comprised of edible products and ancillary items related to the edible marketplace. The 4th streams Investments into other private cannabis operations. The final stream, Research, will focus on the medical benefits of CBD oils for the treatment of animals.
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.
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: