DALLAS, Nov. 22, 2016 (GLOBE NEWSWIRE) — Bayport International Holdings, Inc. (OTCP:BAYP) is pleased to announce an exciting change in direction for the company. Bayport is currently evaluating multiple business options in the cannabis industry.
President Clay Franks stated, “As most of you know, on October 10, 2016, we put out a press release stating that we were looking for reverse merger and/or acquisition candidates. A couple of the opportunities that have been presented to us are in the cannabis industry and one option in particular is very attractive to us due to the scalability, the national reach and the revenue potential.”
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 into the cannabis industry as part of its overall strategy going into 2017.
Clay Franks added, “The cannabis industry for the most part is still in its infancy. Multiple states already allow medical marijuana and several now allow recreational products as well. One of the options we’ve been presented has staying power for the long term and the risk vs reward if off the charts. We are excited about what we’ve seen to date and feel strongly that a separate division focused on the cannabis industry will create a long term benefit for the company and our shareholders.”
Mr. Franks finished up with, “We want our shareholders to have confidence in the transition that will take place soon so we want to cover a few topics. First, despite rumors to the contrary, we do not plan to implement a reverse split at any time in the immediate future. Second, the acquisitions that we have in our sights will for the most part be completed using restricted shares with little to no cash involved and third, all of our information has recently been updated at OTCMarkets.com. We want those who are interested in investing in our company to have everything at their disposal complete and up to date. We look forward to sharing more on our acquisition plans in the coming weeks.”