- Harvest has been completed and final phase begins
- Update on retail and consumption location
COCONUT CREEK, Fla., Nov. 02, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Global Consortium, Inc., (OTCPINK: BDCI) would like to take this time to update its shareholders on the progress of the
company.
The harvest of the 15-acre test farm has been completed. The farmer will begin to shuck the hemp plants today. This is the final
phase before the crop is ready for sale. Once the hemp plants have been shucked, it will be weighed which will determine the true
yield of the harvest. We anticipate a minimum weight of 2,700 pounds per acre.
In May 2018, Global's partner filed for multiple cannabis licenses which included retail, consumption, delivery, and medical.
The latest update from the City is that they plan to notify the approved applicants within 45 days. If all of the applied licenses
are granted based on the comps from the sale of similar licenses, the licenses would have a value of approximately $46 million
dollars.
A company valued at over $1 billion dollars has submitted a written offer to purchase half of the retail license for $7 million
dollars.
A key advantage our group has is when the license applications were submitted, the buildout blue prints and contractors list for
the space that has been rented since April of 2018 was also submitted. This will dramatically expedite the time to get the buildout
finished and the retail shop and consumption room operating.
The retail space could be up and running in March/April of 2019, and the consumption room would open in June/July of 2019.
Once the licenses have been awarded, Global Consortium will acquire the company.
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
Twitter: @CannabisConsort
954-906-0098
