CANNABIS CONSORTIUM
RECEIVES
$800,000 OF
ITS
$1 MILLION PRIVATE PLACEMENT
-
The remaining $200,000 will be received by May 30,
2018
-
The building purchase is slated to close by the May 15,
2018.
-
The Private Placement was completed at $.50 a
share.
Coconut Creek, FL -- May
1, 2018 -- InvestorsHub NewsWire -- Bahamas Development Corporation
(OTCPINK:
BDCI) subsidiary company Global Consortium, Inc. f/k/a Cannabis
Consortium received the first $800,000 of its previously announced
Private Placement ahead of schedule.
The Private Placement was
completed with Global Consortium, Inc. directly at $.50 a share,
1,600,000 shares of Global Consortium, Inc. will be issued. The
next investment of $200,000 will be completed at $.75 a share and
the final installment of $375,000 will be completed at $1.00 per
share.
Global Consortium will be
wiring funds out to its attorney in California for the building
purchase, the building is slated to close by the 15th of
May.
Cannabis Consortium had to
file a name change with the State of Florida to enable the Company
to open a bank account. The company stimulatingly filed a DBA as
Cannabis Consortium with the State of Florida and will operate as
Cannabis Consortium.
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