Bayport International Holdings Inc (OTCMKTS:BAYP) reported a thrilling change in its direction for the coming period. The company is currently assessing numerous business alternatives in the cannabis industry.
Clay Franks, the President, said that as most of the participants know, in October, the company released a PR announcing that they are seeking for reverse merger and/or acquisition options. A couple of prospects that have come around are in the cannabis market and one alternative in particular seems extremely attractive to them due to the national reach, revenue potential and scalability.
The highlights
Bayport International is a firm that up until recently has emphasized mainly on precious metals, oil and gas deals and rare earth ventures. The firm will commence immediately to expand into the cannabis market as part of its comprehensive strategy going into 2017. The president added that the cannabis market for the most part is in its infancy.
Numerous states already permit medical marijuana and many now enable recreational use as well. One of the alternative, the company have been given has staying power and favorable risk versus reward ration. They are thrilled about what they have witness so far and feel firmly that a separate segment focused on the cannabis market will result in a long term advantage for the firm and its shareholders.
Mr. Franks concluded that they want their shareholders to keep confidence in this planned transition phase that will be coming soon. Bayport do not intend to execute a reverse split any time in the coming period. The acquisitions that they have in their sights will be closed mainly using restricted shares. Also, the company has updated all its information at OTCMarkets.com. They are looking for those candidates who wants to invest in their firm to have everything at disposal complete. The company look forward to provide more details on its acquisition plans in the imminent weeks.
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