DALLAS, Nov. 21, 2016 (GLOBE NEWSWIRE) — Bayport International Holdings, Inc. (Other OTC:BAYP) announced today that James Porter has made the decision to retire and is stepping down as President of Bayport International Holdings, Inc. Gail Porter will be leaving the company as well. Effective immediately, Clay Franks has been appointed as the new President/CEO. The company is also actively in discussions with new candidates to fill new directors and officer positions.
Mr. Franks stated, “Due to the current business climate, attractive oil and gas deals are minimal at this point and we feel that it is in the best interest of the company and our shareholders to go in a completely new direction.”
Bayport International Holdings, Inc. is a company that up until recently has focused primarily on precious metals, rare earth and oil and gas ventures. The company will begin immediately to diversify as part of its overall strategy going into 2017.
Mr. Franks also stated, “On October 10, 2016, we put out a press release stating that we were looking for reverse merger and/or acquisition candidates and we’ve been pleased with the response. A couple of the opportunities that have been presented to us are intriguing and we plan to take advantage of some of those opportunities in the very near future.”
Mr. Franks finished by saying, “The timing could not be more perfect for a change in direction. We have very little debt on the books. Our share structure has recently stabilized and the opportunities we’ve been presented have tremendous upside. We ask for your support during this transition and we look forward to sharing more on our future business strategy in the next few days.”