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| BDCI Completes Important Merger Set to Focus on Big Business Lines and Revenue Streams |
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 Hot Stock to Watch |
Company: Bahamas Development Corporation (Pink Sheets: BDCI)
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Last:
Price: 0.048
Change (%): + 0.008 (20.00)
Volume: 1,829,786 |
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Bahamas Development Corporation Completes Merger with Global Consortium, Inc.
- Transaction valued at over $40 million
- Name change amendment with the State of NV to be filed
- Articles of merger have been filed with the State of Florida
COCONUT CREEK, Fla., Oct. 19, 2018 (GLOBE NEWSWIRE) - via OTC PR WIRE - Bahamas Development Corporation (soon to be known as Global Consortium, Inc. d/b/a Cannabis Consortium) (OTCPINK: BDCI) (“Cannabis Consortium”) and its wholly owned subsidiary BDCI Merger Sub, Inc. (“Merger Sub”) have completed a merger with Global Consortium, Inc. (“Global”), whereby Global merged with and into Merger Sub, with Global surviving. In the merger, shareholders of Global were issued shares representing 93.6% of the post-transaction voting and equity interests of Cannabis Consortium, and Global is now a wholly owned subsidiary of Cannabis Consortium.
Articles of merger were filed with the State of Florida on October 18, 2018 to effect the merger.
Cannabis Consortium will shortly file a name change with the State of Nevada to change its name to Global Consortium, Inc. and will file with FINRA next week for the name change and ticker change.
The shareholders of Global will need to surrender their certificates of Global to the transfer agent of BDCI to receive their restricted shares of Cannabis Consortium.
The value based on the transaction was over $40 million dollars based on the assets of Global which have now been injected into Cannabis Consortium, including those discussed below.
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