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Cannabis Consortium Posts a Copy of the Conditional Use Permit, "CUP" to Otcmarkets

1264 Days ago

-          City approves minor modification

-          CUP allows Cannabis Consortium to manufacture, cultivate and distribute THC

-          Final building upgrades being completed

COCONUT CREEK, Fla., Sept. 05, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE--Bahamas Development Corporation (OTCPINK: BDCI) affiliate company Global Consortium, Inc. dba Cannabis Consortium and its partners received a copy of the CUP (conditional use permit) for the building they are purchasing.

The City of Sacramento has approved the minor modification that will allow the manufacturing, distribution, and cultivation of THC immediately. A copy of the CUP has been posted to otcmarkets.com https://backend.otcmarkets.com/otcapi/company/financial-report/201994/content.

The CUP will transfer with the sale of the building, and was attached to the lease of the space until the closing occurs. Cannabis Consortium and its partners made sure that they locked down the CUP for themselves.

The City of Sacramento has supplied a list of upgrades that need to be completed prior to the issuance of the city business permit. These upgrades have been started and will be completed in the next couple weeks. Once the upgrades have been inspected, the business permit should be issued.

Indulge Oils will be operational in September or October, and revenue producing within 10 days from the start of production.

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

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