Dallas, TX, Dec. 14, 2017 (GLOBE NEWSWIRE) -- Bayport International Holdings, Inc. (OTC Pink: BAYP) is releasing a comprehensive update to its shareholders regarding its recent developments and progress being made on its cannabis technology platform. Currently, the Company has three major developments that it is working on:
- Development of secondary cannabis technology platform to complement Weedwiser.com and expand its digital ecosystem
- The Weedwiser e-commerce platform and online store that will have up to 15,000 products by end of Q1 2018
- Looking into enabling cryptocurrency payments, as well as traditional merchant payment capabilities, for the Weedwiser e-commerce platform
Bayport has reached consensus regarding adding cryptocurrency to its platform because it believes that the Cannabis Industry is a perfect testing ground for cryptocurrency transactions. There are multiple coins and platforms that are targeting the industry, and blockchain is a natural technology to be deployed as the industry becomes more regulated. We have seen the funding and trading of coins like WEED and Paragon. “We don’t know who the winner will be but we intend to participate in the transition the industry will experience,” stated Clay Franks, Bayport CEO.
As previously announced, Bayport International Holdings, Inc. is actively looking to partner with vetted manufacturers, retailers, and distributors of cannabis apparel, clothing and accessories. After further consideration, management is also looking into adding high-quality Cannabidiol (CBD) products on the Weedwiser e-commerce platform. Unlike THC, CBDs do not get you “high” and are said to have several health benefits.
The CBD market is a multi-billion dollar market that is still in the early stages of growth. According to The Hemp Business Journal, the CBD market is forecast to be a $2.1 billion market by 2020. Greenwave Advisors’ Matt Karnes, forecasts the CBD market to reach $3 billion by 2021.
Through partnering with high-quality CBD extraction and distribution companies, management believes this will help deliver shareholder value and give its cannabis technology platforms an even greater ability to generate revenues.
About Bayport International Holdings, Inc. (OTC PINK: BAYP):
Bayport International Holdings, Inc. is a holding company active within the cannabis technology industry. Through its Weedwiser.com digital platform, the company seeks to be a leader in the emerging cannabis technology industry. Furthermore, the company is currently evaluating acquisitions within the industry. Learn more about the company by visiting http://www.weedwiser.com and http://www.bayportholdings.com.
Safe Harbor
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Bayport International Holdings, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Bayport International Holding's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Bayport International Holding's filings with the Securities and Exchange Commission.