- New 5,000 sq. ft. retail and consumption location
- Cannabis and its partners will own 50% of this retail location
- 1 to 2 more deals will close later this month
COCONUT CREEK, Fla., April 02, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE--Bahamas Development Corporation (OTCPINK: BDCI)
subsidiary company Cannabis Consortium, Inc and its partners have executed a lease for a 5,000-square foot space just outside Los
Angeles, CA.
The building is one of only two locations zoned for "On Site Consumption" of cannabis, and is sited across a local landmark with
heavy foot traffic and ample parking facilities. The plan is to buildout a VIP area inside the space to attract high-end
clientele.
The City is only issuing 8 retail licenses. Cannabis Consortiums strategy was to align itself with partners in this location who
have over 15 years' experience and hold 10 licenses, along with Counsel having a 100% track record in successfully receiving
licenses for cannabis facilities.
Renderings of the building will be submitted along with our application. After the application has been submitted, Cannabis will
upload the building images to its website. It is anticipated the licensing phase shall take up to 120 days from the date of
submission.
Over the next 2-4 weeks Cannabis and its partners will execute and fund at least 1 possibly 2 more transactions in the MJ
sector, with further transactions planned for 2018.
The group has moved on from the earlier announced dispensary because the current transaction is much more economically
attractive.
About Cannabis Consortium:
Cannabis Consortium is actively pursuing five (5) revenue streams in the cannabis marketplace:
- Specialty items
- Foodstuffs/Edibles
- Beverages
- Investment
- Research/New Products
The first three (3) revenue streams are comprised of edible products and ancillary items related to the edible marketplace. The
4th streams investments into other private cannabis operations. The final stream, Research, will focus on the medical benefits of
CBD oils for the treatment of animals.
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
