- Cannabis acquired an Extraction Machine for $200,000
- Cannabis and its Partners will manufacture their own Oils
- Projected Net revenue for 12 and 24 months is $6,000,000 and $10,000,000 respectively
COCONUT CREEK, Fla., April 20, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire – Bahamas Development Corporation (OTCPINK:BDCI) subsidiary company Cannabis Consortium, Inc. has purchased an Oil Extraction machine today that will be leased to its Partners to Distillate and Manufacture Oil.
Cannabis's Partners have several years of experience producing Cannabis Distillate.
With the recent Master License deal with Infused Edibles it was natural fit to move into the production of Cannabis and CBD Oils. The Oil will be needed to infuse the products sold under "Infused Edibles" and marketed to the 400 outlets that Infuse Edibles services already.
The Extraction machine will also be used to produce private label Oil for third parties, Cannabis's Partners have already lined up 5 white label partners.
Both operations will be housed within the building Cannabis is seeking to purchase in Northern California.
Cannabis Consortium has added a new web page to its site www.cannabisconsortium.net called "California Operations". The page has a detailed presentation of how and when revenue will be generated.
Cannabis Consortium does not own or operate any licensed cannabis operations. Cannabis Consortium is entitled to receive 15% of the annual net revenue collected by its partners from every project it is involved with. The Company is also entitled to receive 15% of the proceeds its partners receive should any company be sold. Cannabis acts as a consultant in these transactions and is not involved in any day-to-day operations or decision making for any of the licensed cannabis operations. Cannabis may own assets in the future that are leased to various licensed entities operating in the cannabis sector. Cannabis will receive above average rents from any assets it leases to the cannabis sector.
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.