COCONUT CREEK, Fla., April 23, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire -- 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.