DALLAS, Dec. 15, 2016 (GLOBE NEWSWIRE) -- Bayport International Holdings, Inc. (OTC PINK:BAYP) announced today that the company has officially closed on its first legal cannabis acquisition.
Mr. Franks, President, stated, “Bayport International is pleased to announce the acquisition of Pacific Retail Group, LLC based in Bend, Oregon. PRG will operate as a new division of Bayport International Holdings, Inc. and all legal cannabis related business will flow through this new division of the company. All documents have been signed, all assets associated with the company have been transferred to Bayport International and filings are now being submitted to the Oregon Secretary of State.”
Mr. Franks stated, “Bayport International will own and operate a very robust online cannabis directory in the coming weeks. The PRG team is making some very exciting adjustments to the platform in order to maximize revenue potential. We have announced that the business will begin operating as a Bayport International entity on or before January 27, 2017. I can tell you today that the PRG team has reported that we will not only meet that target, but will most likely be able to complete all components of the project much earlier than expected.”
Mr. Franks also said, “If you are familiar with Angie’s List, you know that plumbers, electricians, etc. list their company on the site as a way to attract new customers. The same will apply with our cannabis directory. Legal marijuana dispensaries, delivery services, growers, physicians, vendors, etc. will all have the option of listing their businesses on our site. The company will generate revenue via monthly subscriptions. This is a proven business model as at least two companies currently generate tens of millions of dollars annually utilizing the same business model in the cannabis industry which is still for the most part in its infancy. As the cannabis industry grows across the nation, tens of thousands of potential customers will become potential clients for Bayport International.”
Mr. Franks finished up with, “We want to thank the PRG team for their tireless efforts to date. Now that all assets and key components of the infrastructure have been acquired, from here it is simply a matter of PRG completing some requested coding and structural changes. These are exciting times for Bayport International and we want to thank you for your ongoing support of our company.”
About Bayport International Holdings, Inc.
Bayport International Holdings, Inc. is a holding company active in Oil & Gas, strategic metals, precious minerals and energy production. The company is also pursuing opportunities in the legal cannabis industry. The objective of the company is to provide diverse, yet practical investment opportunities to its shareholders.
Cautionary Note Regarding Forward-Looking Statements
This press release and the statements of representatives of Bayport International Holdings, Inc. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, Bayport's ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
Source:Bayport International Holdings