COCONUT CREEK, Fla., Oct. 29, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Global Consortium, Inc. (OTCPINK: BDCI) is pleased to announce the Company will acquire a large California cannabis company that has the Permit needed to operate in the Cannabis business, and on a large scale.
Currently this company has LOI's to produce millions of dollars of Oil per month, some of the LOI's are for annual production while additional orders are calling in daily.
Due to the demand and growth of Global with this acquisition, the back log of orders is so great right now, Global is exploring new extraction equipment with the capability of producing 10 times the amount of Oil per day, than our current equipment.
The value of the 3 licenses held could be on the rise in December if the State of California has its way. The State is proposing a ban on licensing and branding agreements that would essentially prohibit white-labeling. This is a good thing for Global as all companies seeking to do White Labeling would either lose their brands or transfer them to us in exchange for a royalty fee, making our Company more valuable.
Having a 64,000 square foot building allows us the flexibility to manufacture a significant amount of product - in addition to our own distribution platform - we will be able to push products onto store shelves at a very high rate.
The Name and Ticker change has been resubmitted to FINRA with a ticker request of IVXX which translates to "420", although we can request up to 3 tickers there is no guarantee we will be assigned any of the 3 tickers we chose.
Even though the CUP's were granted in August for Manufacturing, Cultivation and Distribution, we are still waiting for our Certificate of occupancy to operate. The final modifications to the building for electrical and plumbing as requested by the City should be done shortly, and Global can call for a final inspection.
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.
