Business
Bayport International Holdings, Inc. (BAYP) Enters Into $15 Million Joint Venture
Bayport International Holdings, Inc. (BAYP) Enters Into $15 Million Joint Venture.
About this update from Bayport International Holdings, Inc.
[{"type":"text","content":"\n \n \n Bayport International Holdings, Inc. (BAYP) Enters Into $15 Million Joint Venture\n \n \nBayport International Holdings, Inc. (BAYP) Enters Into $15 Million Joint Venture\n \n TULSA, OK--(Marketwired - Jul 14, 2015) -  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.\n Terms of the Bayport/LeBonds joint venture are as follows, and will be reflected on our audited financials for the 3rd quarter of 2015.\n $15,000,000 in total acquisition funding is going to Bayport over the course of 180 days.\n $7,500,000 is to be received within 90 days, and $7,500,000 to be received within 180 days.\n Acquisitions ownership and revenue are to be shared 80% to Bayport and 20% to LeBonds.\n Annual 9% interest rate will be payable once a year, renewable or repayable after the first 2 years.\n 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.\"\n About Bayport International Holdings, Inc.\n 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.\n www.BayportInternational.com\n Cautionary Note Regarding Forward-Looking Statements\n 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 a...