CANNABIS CONSORTIUM PARTNERS WITH GREEN
MATTER HOLDINGS AND MOVES FORWARD WITH
15-ACRE
HEMP TEST
-
Planting 24,640 industrial
hemp clones in 3 strains
-
The partners retained a
local consultant to assist in overseeing the test
-
Executed documents and a picture of the seedlings has been
posted to OTCMarkets.com
Coconut Creek, FL -- June 18,
2018 --
InvestorsHub NewsWire -- Bahamas Development
Corporation (OTCPINK:
BDCI) subsidiary company Global Consortium,
Inc., dba
Cannabis Consortium has partnered with Green Matter
Holdings, LLC and moved forward with
the 15-acre
industrial hemp farm test.
The partners have hired a local
company to supply the farmer with 24,640 industrial hemp clones
at the cost of
$5.00 per clone in 3 different strains to be planted on the test
site.
The farmer is responsible for
planting, caring and harvesting the crops. The partners will pay the farmer a
total of $100,000 in between the time of the
execution of the
agreement and harvesting the crops.
The local company has been retained
as a
consultant to supply the clones and help
oversee the planting, growing, and
harvesting
of the industrial
hemp.
The partners will
share the
expenses 50/50 associated with the planting, irrigation, weed
control, drip line, mulch system, filters, mainline, mulch plastic
components, clones, fertilizer and the harvesting expense of the
industrial hemp.
The farmer estimates two crop
grows annually. If the initial test is
proven, the next step is to plant
up to
600 acres of hemp.
Originally we were
led
to believe there
were as many as 800
acres available
to plant. The actual total available acreage after
the test is 600 acres. If all 600 acres are
planted, the estimated
gross
revenue
expected to
accrue annually is $120,000,000 minus $20,000,000
in operating expenses, resulting in
a
net
of
$100,000,000.
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