COCONUT CREEK, Fla., Aug. 21, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Bahamas Development Corporation (OTCPINK: BDCI) affiliate company Global Consortium, Inc. dba Cannabis Consortium and it partners have all agreed to merge all of the operations and assets under Bahamas Development Corporation.

BDCI filed its 2nd Quarter financial report last night and within the report it details all of the assets and operations that will be merged into Bahamas Development as wholly owned divisions.

The group has also agreed to change the name of the Company to Global Consortium, Inc.

The operations of Global Consortium will merge in first, which includes the Hemp farm in CO, Infused Edibles, and Indulge Oils. These operations will be merged effective as of July 1, 2018, and will file consolidated financials beginning September 30, 2018.

Once Global's operations have merged in then the Partnership company ToMarRa, LLC a Nevada corporation, will merge its assets into the Company.

Upon complete consolidation of all operations, the conservative estimated value of the assets will be $38,400,000 as explained within the 2nd Quarter financial report.

The conservative estimate of revenue for 2018 is $5,000,000 and the conservative estimated revenue for 2019 is $100,000,000.

Further details have been explained within the June Quarterly financials as posted to OTCMarkets.com.

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.