TRANS GLOBAL
GROUP, INC. COMPLETES TRANSACTION FOR CANNABIS
CONSORTIUM
WITH BAHAMAS DEVELOPMENT CORPORATION
Coconut Creek, FL
-- January
18, 2018 -- InvestorsHub NewsWire --Trans Global
Group, Inc. (OTCPK:
TGGI)
is pleased to announce the Company has
completed
its transaction with Bahamas Development corporation. (OTCPK:BDCI).
The
transaction was essentially a stock swap between TGGI and BDCI with
BDCI becoming the largest shareholder of Cannabis Consortium,
Inc.
Trans
Global Group will have a Non-Cancelable Master Distribution
Agreement with Cannabis entitling it to receive 50% of net profits
annually.
The
completion of the transaction should pave the way for the final
approval from FINRA for the name and ticker change of Bahamas
Development Corporation.
Cannabis Consortium:
Cannabis Consortium
is comprised of four
(4) revenue
streams compromising
specialty items, foodstuffs, beverages, and
one
(1) research division.
Three (3)
of the
revenue streams are derived from edibles and the other revenue
stream is from investments. The research division will focus on the
medical benefits of CBD oils for the treatment of
animals.
For
our specialty items will retain counsel
to
file patents on these
items. A company Cannabis came across during due diligence on
potential companies has an item that was
being used in a non-MJ sector. The item had sold millions of
units at approximately $10
retail per unit and $1-$2 wholesale, prior to
their
patent
being obtained. Cannabis realized an
opportunity and redesigned
their
product creating new specialty items
that are different in the delivery of the food that should allow
patents to be granted.
Cannabis Consortium
intends to apply for MJ licenses in several U.S. States
beginning
with, but not limited to, Colorado. After the Colorado licenses
have been approved, Cannabis plans to execute joint venture
agreements in other States where cannabis has been
legalized.
For
the purposes of expediting the
business
plan and in order to quickly move to a revenue generation phase,
the business lines are being
structured in a manner that
allows Cannabis to effect sales without immediately requiring MJ
licenses.
More
information regarding the statements made in this release
along with more information about Cannabis Consortium will be
released in the coming days.
The foregoing press
announcement contains forward-looking statements that can be
identified by such terminology such
as
"believes," "expects," "potential," "plans," "suggests," "may,"
"should," "could," "intends," or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results
to be materially different from any future results, performance or
achievements expressed or implied by such statements. In
particular, management's expectations could be affected by among
other things, uncertainties relating to our success in completing
acquisitions, financing our operations, entering into strategic
partnerships, engaging management and other matters disclosed by us
in our public filings from time to time. Forward-looking statements
speak only as to the date they are made. The Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
Contact:
Matt Dwyer
matt@transggi.com
954-905-9896