DALLAS, Nov. 29, 2016 (GLOBE NEWSWIRE) — Bayport International Holdings, Inc. (OTC PINK:BAYP) announced today through its CEO, Clay Franks their intent to compete directly with multiple online directories catering to the legal cannabis industry.
Mr. Franks stated, “We will be completing our first cannabis related acquisition on or before January 27, 2016. We can tell you today that the company of choice has created a business with incredible scalability and revenue potential for years to come. Not only will we compete in the cannabis industry directly with Weedmaps, Leafly and other well-known directory websites, but this particular business model sets itself apart in a very unique way.”
Mr. Franks explained, “Most directory websites are just that; a way for visitors to find businesses within a particular niche and relevant details about that particular business. We will take it a step further. We will work closely with any business listed in our directory to enhance other aspects of their online marketing success such as their primary website, their approach to search engine optimization, their approach to advertising, their social media footprint, etc. This is a very unique approach that not only adds value, but will enhance the retention rate of the directory listings and creates additional revenue streams that are being left on the table by current competitors. We feel strongly that this business model has upside in the millions of dollars.”
Mr. Franks went on to say, “Yes, we are well aware of the competition and their head start in this particular niche market, however, we are also aware that the cannabis industry is just getting started and we will compete aggressively over time to capture significant market share. If you look at the incredible amounts of revenue already being generated in this space with only a handful of states having a mature cannabis market at this point, you begin to understand the tremendous revenue potential that this will create for Bayport International. This first acquisition will be an “all stock” transaction with key individuals joining our company on an incentive basis as support personnel.”
Mr. Franks finished up with, “This team of design and coding experts is currently making several adjustments to the platform and its capabilities based on our specific requests. Once they’ve made these adjustments and we’ve tested and retested the platform, we have every intention of closing this deal and operating as a separate Bayport International entity on or before January 27, 2017. We could not be more excited about this opportunity for our management team and our shareholders and we look forward to sharing more information in the near future.”