Bahamas Development Corp. Executes Asset Purchase Agreement to Acquire Performance Lifestyle Apparel Company

Acquisition Currently Generates Revenue in Excess of $1 Million Per Year;
Company Officer is Obtaining a Loan he is Personally Guaranteeing to Fund the Acquisition;
Transaction Avoids Any Dilution to BDCI Shareholders

JACKSON, MS / ACCESSWIRE / January 4, 2017 / Bahamas Development Corporation (OTC PINK: BDCI) has executed an Asset Purchase Agreement (APA) to acquire a fast-growing wholesale turnkey performance lifestyle apparel company. The apparel company is focused on the “HOT” Athleisure category and has existing operations and distribution channels throughout the United States and Caribbean.

The apparel company has a multi-year operating history and currently generates revenue in excess of $1 million per year. The acquisition has been structured to avoid any dilution to BDCI. One of BDCI’s Officers is obtaining a loan he is personally guaranteeing.

The business has established distribution channels in place, including Outdoor Retailers, Specialty Retailers, and many of the world’s leading resorts. The acquisition accelerates BDCI’s business strategy of developing revenue streams in the United States and the Caribbean.

The apparel company benefits from excellent supply chain relationships both in the United States and overseas. A focus on proprietary fabrics has allowed them to flourish in one of the hottest growth categories in the apparel industry. The Company has exclusive business designs, and they manufacture and distribute performance lifestyle apparel in the “HOT” Athleisure category.

BDCI has an ideal opportunity to rapidly expand existing and new distribution channels. This includes building on existing Internet and Amazon platforms, and increasing the current B2B business. Competitive advantages are already in place that will allow the business to continue to grow and flourish.

Included in the purchase is inventory; equipment, social network profiles and domains; Website, including e-Commerce, Amazon, FB, Twitter, Instagram platforms. The current business is predominantly wholesale to the trade only. Sales and Marketing Representatives are already in place, as are supply chains, customer services, operations, and production.

About the Performance Apparel/Athleisure Market:

The rise in athleisure has given apparel sales a significant boost in the last couple of years. In 2014, US consumers spent $323 billion on apparel, footwear and accessories, according to The NPD Group. This was a $2 billion increase from the prior year, and largely thanks to dramatic growth in sales of activewear. Morgan Stanley predicts that, by 2020, activewear will represent $83 billion in sales, “stealing market share from non-athletic apparel.” According to Stylus, “The athleisure phenomenon looks set to continue into 2016 and beyond, and is now on course to become one of the fastest-growing global apparel product categories in the second half of this decade.”

Bahamas Development Corporation, in compliance with SEC regulations, may in the future use social media outlets like Facebook or Twitter and its own website to announce key information in compliance with Reg FD.

For additional information about this release please contact:

Investor Relations:
769-218-1796
https://twitter.com/bahamasdevcorp
https://www.facebook.com/Bahamas-Development-Corporation-469640663243771/
info@bahamasdevelopmentcorp.com
http://www.bahamasdevelopmentcorp.com/

Forward-Looking Statements

This news release contains “forward-looking statements” as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, estimates of services and equipment markets, release of corporate apps, growth of platform, target markets, product releases, product demand and, business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also consider that any investment in securities is at risk.

Details of the Company’s business, finances, appointments, and agreements can be found as part of the Company’s continuous public disclosure on otcmarkets.com.

SOURCE: Bahamas Development Corporation

ReleaseID: 452182