CANNABIS CONSORTIUM SECURES
$1,000,000
PRIVATE PLACEMENT TO PURCHASE
BUILDING AND LAB ASSETS
-
$1.M private placement is
completely non-dilutive to BDCI
-
Building deal to close
by May 15, 2018
-
Lab assets will be used in
oil production
Coconut Creek,
FL -- April 23, 2018 -- InvestorsHub NewsWire --
Bahamas
Development Corporation (OTCPINK:
BDCI) subsidiary company Cannabis Consortium, Inc.
has
secured a Private
Placement of $1,000,000 that will be invested directly into
Cannabis Consortium.
The investment
is from a private investor, who will receive shares in Cannabis
Consortium. The $1,000,000 investment is completely non-dilutive to
BDCI. No shares, options, warrants or debt agreements were executed
by BDCI in the acceptance of this money.
The initial
investment of $800,000 will be funded by May
1, 2018.
This allows the building
acquisition
to close on or
before May 15, 2018.
The $200,000
balance will be deposited by
May
30,
2018, or
sooner if Cannabis requires it.
The
building being acquired
will be
one
of many tangible
assets owned by Cannabis and leased back to its Partners at
appropriate
market
rates for assets 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.
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