Let’s hope BLDV can do same.
CANNABIS CONSORTIUM SECURES $1,000,000 PRIVATE PLACEMENT TO PURCHASE BUILDING AND LAB ASSETS
- $1.M private placement is completely non-dilutive to BDCI
- Building deal to close by May 15, 2018
- Lab assets will be used in oil production
Coconut Creek, FL -- April 23, 2018 -- InvestorsHub NewsWire -- Bahamas Development Corporation (OTCPINK: BDCI) subsidiary company Cannabis Consortium, Inc. has secured a Private Placement of $1,000,000 that will be invested directly into Cannabis Consortium.
The investment is from a private investor, who will receive shares in Cannabis Consortium. The $1,000,000 investment is completely non-dilutive to BDCI. No shares, options, warrants or debt agreements were executed by BDCI in the acceptance of this money.
The initial investment of $800,000 will be funded by May 1, 2018. This allows the building acquisition to close on or before May 15, 2018.
The $200,000 balance will be deposited by May 30, 2018, or sooner if Cannabis requires it.
The building being acquired will be one of many tangible assets owned by Cannabis and leased back to its Partners at appropriate market rates for assets in the cannabis sector.
Cannabis Consortium does not own or operate any licensed cannabis operation. 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-t
