CANNABIS CONSORTIUM'S PARTNER
PURCHASES 25,000
sq.ft BUILDING WITH MULTIPLE
LICENSES
-
Building contract has been signed and
escrow funded
-
Building comes with 4 cannabis licenses
-
Multiyear tenant to pay $30,000 a month in
rent
-
Option to purchase the remaining 38,000
square feet
Coconut Creek, FL -- June 14,
2018
-- InvestorsHub NewsWire --
Bahamas
Development Corporation (OTCPINK:
BDCI) subsidiary company Global Consortium, Inc.
dba Cannabis
Consortium Partners have placed a 25,000 square feet
building
in Northern
California under contract for $4 million
dollars.
The escrow account has been funded
and Cannabis Consortium
and its Partners
have been issued a lease to move in prior to closing and begin
operations.
The building has been granted
4 licenses (2 manufacturing, 1 cultivation, and 1 distribution) a
tenant has been lined up to rent 20,000 square feet
for cultivation.
The tenant has agreed to pay $30,000 a month in rent and a portion
of the proceeds from each harvest.
Cannabis Consortium
and its Partners
will utilize 5,000 square feet
and construct a
mezzanine for an additional 1,500 square feet.
This space will
be used for manufacturing oils and infusing edibles.
An option has been granted on the
other section (38,000 square feet)
of the
building for $5 million dollars
that
is
currently
rented. The tenant is looking to
relocate. The building has been
approved for subdivision into condos and the other section of the
building would allow for more than 20 licenses to be granted and
those can be leased with each condo.
The City of Sacramento held a
series of meetings to curtail the issuance of
additional licenses which is why Global
Consortium
withdrew its
offer to purchase the building. The owner was not willing to
see if a license would be granted before Closing.
The new building with the 4
active cannabis licenses would command $9 million
dollars.
The full
building with all the various licenses it could obtain
would be worth several times that
amount.
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