- Gross Yield from the farm could range from $1.5 to $3.0 million
- Global has two buyers lined to purchase the product
- Proven revenue stream for BDCI
COCONUT CREEK, Fla., Aug. 23, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE--Bahamas Development Corporation (OTCPINK: BDCI) affiliate company Global Consortium, Inc., dba Cannabis Consortium and its
partner Green Matter Holdings, LLC have been notified the 15-acre industrial hemp farm will begin harvesting in October.
The harvesting and drying will take place in October and the sale will take place in November.
Global currently has two buyers lined up to purchase the Bio-Mass for a minimum of $1.5 million and as much as $3 million
exceeding the initial estimate per acre. The difference in sale price is dependent on the final weight of the plants after the
harvest. Global and Green Matter will split the proceeds 50/50 once the Bio-Mass is sold in November.
For Global this test proves the land is viable and profitable while providing a third stable revenue stream for BDCI.
By the time of the sale in November Global will have consolidated the farm into BDCI and the revenue and income will appear on
the 4th quarter report for BDCI.
BDCI will rely on its accounts to guide them on how best to flow the various revenue streams into the parent Company and
maximize its net income.
New pictures of the farm have been posted at @Cannabisconsort
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
