JACKSON, MS / ACCESSWIRE / February 14, 2017 / Bahamas Development Corporation (OTC PINK: BDCI) is pleased to announce that it
has received a formal commitment letter from one of its retail banking lenders for a loan and credit line. The loan will be used to
close the Asset Purchase Agreement executed in January 2017 to acquire a Performance Lifestyle Apparel company.
The loan and credit line are being personally guaranteed by BDCI's President and will not result in any dilution or toxic debt
to the Company.
BDCI has also closed on a bridge loan and has deposited the funds needed for closing in escrow. This shall also not result in
any dilution or toxic debt to the Company.
Final closing details for the announced acquisition are being completed by BDCI and its retail banker. The formal close is
anticipated to take place in the coming weeks.
The financial institution issuing the loan has expressed interest in funding future acquisitions the Company is working on.
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.
For additional information about this release please contact:
Investor Relations:
769-218-1796 https://twitter.com/bahamasdevcorp https://www.facebook.com/Bahamas-Development-Corporation-469640663243771/
info@bahamasdevelopmentcorp.com http://www.bahamasdevelopmentcorp.com/
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.
SOURCE: Bahamas Development Corporation
