CANNABIS CONSORTIUM CLOSES $1,OOO,OOO TWO WEEKS AHEAD OF SCHEDULE
May 16 2018 - 11:39AM
InvestorsHub NewsWire
CANNABIS
CONSORTIUM CLOSES $1,OOO,OOO
TWO WEEKS AHEAD OF SCHEDULE
-
Remaining $200,000 will be received by
May 18, 2018
-
$2 million revenue Hemp grow started in
Northern California
-
Private Placement was completed at
$0.75
a share
Coconut Creek, FL -- May
16, 2018 -- InvestorsHub NewsWire --
Bahamas
Development Corporation (OTCPINK:
BDCI) subsidiary company Global Consortium, Inc.
dba Cannabis Consortium
will receive
$200,000 by Friday May 18, 2018 to finish its Private Placement for
$1,000,0000.
The last round will be
completed at $.75 a share and will close out
the full
$1 million dollars ahead of schedule. Global Consortium
will
issue a total of
1,866,667 shares of its common stock to complete the
financing.
Cannabis Consortium and
its
Partners in
California entered into a transaction
with an
indoor grow facility to grow
high-grade cannabis CBD.
The revenue from these
plants
will be
approximately $2
million annually. The first grow
started a few
weeks ago and it will be ready to harvest in
approximately
15
weeks.
Cannabis Consortium
is
still working
towards getting
the farm in Colorado planted, and is in negotiations with
two other growers from other states. The indoor grow
will help offset some of the initial needs to fulfill orders for
CBD cartridges.
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 Consortium
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
Consortium
may own assets in
the future that are leased to various licensed entities operating
in the cannabis sector. Cannabis Consortium
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