- The Semi-Private Club will have 100 founding members

- The licenses if granted would be valued in excess of $20 million dollars

COCONUT CREEK, Fla., June 25, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire – Bahamas Development Corporation (OTCPINK:BDCI) subsidiary company Global Consortium, Inc. dba Cannabis Consortium and its Partners have submitted their application for multiple licenses for a new retail and consumption location just outside of Los Angeles, CA.

The application was submitted towards the end of May 2018 and the City has stated it will award the licenses toward the middle of summer.

Cannabis and its Partners feel they have submitted if not the strongest application then one of the strongest applications. 

Multiple licenses have been sought including retail Adult and Medical and a Consumption license. Should all the licenses be granted based on the comps of other similar licenses in the area, the value of these licenses would be in excess $20 million dollars.

Artist renderings of the Retail and Consumption room can be viewed on the Company's website www.cannabisconsortium.net then click on "Retail and Consumption". Only a few pictures of the Consumption room have been released until the Grand Opening.

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.

Forward-Looking Statements

This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, estimates of services and equipment markets, release of corporate apps, growth of platform, target markets, product releases, product demand and, business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also consider that any investment in securities is at risk.

Details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure on otcmarkets.com.

For additional information about this release please contact:

Investor Relations:

Matt Dwyer
matt@cannabisconsortium.net
www.cannabisconsortium.net
954-906-0098