Bayport International Holdings, Inc. (BAYP) Enters Into $15 Million Joint Venture
(firmenpresse) - TULSA, OK -- (Marketwired) -- 07/14/15 -- Bayport International Holdings, Inc. (OTC PINK: BAYP) is pleased to announce that it has entered into a binding Joint Venture agreement with LeBonds. The Company's JV partner, LeBonds, a corporation located in Carlsbad, California, 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 our audited financials for the 3rd 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.
Bayport Director Clay Franks stated, "After years of searching for a reasonable funding source, we are very pleased to be partners with LeBonds. This is by far the most obtainable, non-dilutive financing that we have found. This partnership along with our inevitable move to SEC Fully Reporting status will bring Bayport into a new era."
About Bayport International Holdings, Inc.
Bayport International Holdings, Inc. is a company formed to exploit the various precious minerals in the U.S., to acquaint the public with practical investment opportunities in strategic metals and minerals. Bayport International Holdings, Inc. is primarily focused on precious metals, rare earth, and oil and gas ventures. Bayport International Holdings, Inc. is developing mining and oil and gas properties with economic potential, with the aim of bringing such properties to commercial production. The company's portfolio of properties is primarily located in the Oklahoma, Texas, and Pennsylvania.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements about our business or financial condition and prospects that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this news release, words such as "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including risks discussed in the company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
Investor Inquiries:
Benchmark Advisory Partners LLC
Toll Free: (866) 703-4778
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Datum: 14.07.2015 - 17:47 Uhr
Sprache: Deutsch
News-ID 406759
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contact information:
Town:
TULSA, OK
Kategorie:
Oil & Gas
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