DALLAS, Texas, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Bayport International Holdings, Inc., (OTC Pink: BAYP) (“Bayport” or the “Company”), a holding company active within the cannabis technology industry, that is developing an integrated platform of Cannabis Industry Technologies, is pleased to announce that it has entered into a Letter of Intent (LOI) to acquire a minority interest in 420skybnb.com, a cannabis lifestyle tourism platform.
The announcement comes just two days after announcing the negotiations of a proposed acquisition of a minority stake in this cannabis travel technology platform. Management is pleased that both parties are in agreement and work well together, which helped streamline the negotiation phase into an LOI. Both parties will now conduct deeper due diligence and work towards finalizing a transaction. We expect to report further on the outcome of the LOI in the coming weeks.
The 420skybnb platform connects cannabis travelers with cannabis-friendly hosts, which offer short-term housing accommodations. 420skybnb supports cannabis entrepreneurs that seek to become hosts on the platform. This allows hosts to temporarily rent out their living space to other cannabis enthusiasts and earn money in exchange. 420skybnb is a cannabis technology platform that ultimately is focused on capitalizing on the rapidly growing cannabis tourism industry. “In California in 2016 the Wine tourism industry generated $7.2 Billion in revenue and we are confident the legal Cannabis industry will eventually eclipse those figures,” stated 420skybnb Founder and CEO, Kurt Casadine.
Bayport sees cannabis tourism as an overlooked segment of the overall industry. With 420skybnb’s cannabis technology platform geared towards travel and tourism, management sees the company as a natural fit within Bayport’s expanding platform ecosystem. Furthermore, 420skybnb’s robust platform, Android app, and iOS app could help provide a roadmap for Bayport to expand the capabilities of its existing platforms.
“Adding a travel component to our growing ecosystem is a natural fit. We are whiteboarding the multiple ways our customers, clients, and business lines can synergistically cross promote each other effectively with a travel component. Obviously there are product promotion opportunities as well as cross selling of dispensary experiences with the 420skybnb.com lodging experience,” stated Clay Franks.
Bayport looks forward to reporting further developments of its Cannabis Technology Platform over the coming weeks.
For more information on 420skybnb, check out https://420skybnb.com.
You can also see 420skybnb’s Apple and Android apps here:
About Bayport International Holdings, Inc. (OTC PINK: BAYP):
Bayport International Holdings, Inc. is a holding company active within the cannabis technology industry. Through its Weedwiser.com and Ecannago.com digital platforms, the company seeks to be a leader in the emerging cannabis technology industry. Furthermore, the company is currently evaluating acquisitions within the industry. Learn more about the company by visiting http://www.weedwiser.com, www.ecannago.com and www.baypcanna.com.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Bayport International Holdings, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Bayport International Holding's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Bayport International Holding's filings with the Securities and Exchange Commission.
Bayport International Holdings, Inc. 3838 Oak Lawn Avenue Suite 1000 Dallas, Texas 75219 Phone: 888-574-5505 www.baypcanna.com Investor Relations Contact: Spotlight Growth Matt Rego firstname.lastname@example.org
Source:Bayport International Holdings, Inc.