Cannabis Consortium, Inc. agreed to acquire Bahamas Development Corporation (OTCPK:BDCI) in a reverse merger transaction on November 15, 2017. As per terms, Bahamas Development issued 100 million restricted common shares in the transaction. The outstanding share count after the takeover is complete will be approximately 160 million common shares. The Float shall remain the same at approximately 29 million common shares. Going forward, financials will be based on the audit of Cannabis Consortium, Inc., not the prior financials of Bahamas Development Corporation’s operating companies. Further, Matthew Dwyer, Chief Executive Officer of Bahamas Development is returning all of his shares in Bahamas Development Corporation in exchange for the operating subsidiaries and all the debt incurred with their operations. Upon closing, Bahamas Development name will change to Cannabis Consortium, Inc. A filing will be made with FINRA with an effective date around November 30, 2017 for a name and ticker change. As on September 28, 2018, the filing for the name change has been submitted with state of Nevada and the company is now known as Cannabis Consortium, Inc. Another filing to change the name and obtain a new name will be made with FINRA next week. Two new independent directors have also been appointed to the board of Bahamas Development Corporation. The transaction has been unanimously approved by two new members of Bahamas Development. As of October 4, 2018, Bahamas Development Corporation is filing with FINRA to change the name and ticker to reflect the merger. The merger has been approved by the Boards and controlling shareholders of Cannabis Consortium and Bahamas Development and no other approvals are needed. As of October 12, 2018, Bahamas Development Corporation has filed its application with FINRA to change the name and ticker while the merger is in final stages and is expected to close within one week. Cannabis Consortium, Inc. completed the acquisition of Bahamas Development Corporation (OTCPK:BDCI) in a reverse merger transaction on October 18, 2018. Articles of merger were filed with the State of Florida on October 18, 2018 to effect the merger.