Native Outfitters Seeks to Expand Product Offering and Production; Targets Include Expansion on $1 million 2016 Revenues and
Improved Net Profit Margins; BDCI Begins Booking Revenues Under its Business Plan
WEST PALM BEACH, FL / ACCESSWIRE / March 6, 2017 / Bahamas Development Corporation (OTC PINK: BDCI) is pleased to provide status
updates following the closing of its acquisition of Native Outfitters™ ("Native").
Native Management held several very positive meetings that will result in expanded revenue in 2017 and beyond. Management met
with the two leading receivables finance companies to begin factoring its receivables. This injection of funds into the company
will fuel expansion.
Revenue growth opportunities include increased apparel offerings, a wider range of colors on existing apparel offerings, and new
graphics. The goal is to increase weekly production from 1,200 to 2,000 shirts. Meetings have been planned with Native's suppliers
to facilitate these opportunities, and new hardware and software has already been ordered to accommodate future order
expansion.
Management has also begun instituting cost savings, that were targeted pre-acquisition to improve the Company's bottom line. Net
income enhancement opportunities include changes to bulk material purchasing to reduce unit production costs.
Native currently sells its wholesale customers custom shirts, shorts, hats, jackets in men's, women's and kids sizes, as well as
stickers, and other Native branded goods.
Native Outfitters began operations five years ago and generated revenues of approximately $1 million in 2016. Net income in 2016
was approximately of 20% of gross revenue. Native clients include, but are not limited to, NASA, Ron Jon, The Breakers,
Ritz-Carlton, Marriott, and many other leading international hotel chains and resorts, as well as a long list of exclusive
clients.
Native's current facility in West Palm Beach, FL, has an in-house art department, and the ability to process, print, and ship
over 1,200 shirts per week. Native uses proprietary Anti-Snag SPF50+ Sun Protection fabrics. Its Anti-Snag sun shirts are most
popular for outdoor enthusiasts who enjoy boating, fishing, and other outdoor sports. Native also offers other complementary lines
including camp shirts, swim shirts, and a line of shorts.
Native Outfitters are suppliers of the official shirts for the Miami, Fort Lauderdale, and Palm Beach International Boat Shows.
The Palm Beach Boat Show, which runs from March 23-26, 2017 is an annual event on Native's calendar. The show features boats,
yachts, and accessories from the world's leading marine manufacturers.
A loan and credit line was obtained from Wells Fargo to fund the acquisition of Native Outfitters. The acquisition, including
initial working capital, has been personally guaranteed by BDCI's President and will not result in any dilution or toxic debt to
the Company.
Wells Fargo has already expressed interest in funding future acquisitions BDCI is working on. BDCI has also held several
discussions with another major retail banking lender with a view to a significantly expanded working relationship.
About Native Outfitters:
Native Outfitters is a fast-growing wholesale turnkey performance lifestyle apparel company that uses proprietary blend
Anti-Snag SPF50+ Sun Protection fabrics to provide a range of safe, comfortable high performance apparel. The Company is focused on
the "HOT" Athleisure category and has established distribution channels in the U.S. and Caribbean. Target sectors for Native
performance apparel include the U.S. Government, outdoor retailers, specialty retailers, and leading resorts and hotels.
https://www.nativeoutfitters.com/
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
