Bayport International Holdings, Inc. announced that it has entered into a binding joint venture agreement with LeBonds. The company's JV partner, LeBonds, will fund Bayport with $15,000,000 for the purpose of acquiring and completing major oil and gas projects. Terms of the Bayport/LeBonds joint venture are as follows, and will be reflected on the company's audited financials for the third quarter of 2015.

$15,000,000 in total acquisition funding is going to Bayport over the course of 180 days. $7,500,000 is to be received within 90 days, and $7,500,000 to be received within 180 days. Acquisitions ownership and revenue are to be shared 80% to Bayport and 20% to LeBonds.

Annual 9% interest rate will be payable once a year, renewable or repayable after the first 2 years.