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":"Bayport International Holdings, Inc. (BAYP) Enters into $15 Million Joint Venture.\nTULSA, OK July 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, a corporation located in Carlsbad Ca. The Company's JV partner, LeBonds a corporation, will fund Bayport with $15,000,000 for the purpose of acquiring and completing major oil and gas projects.\nTerms of the Bayport/LeBonds joint venture are as follows, and will be reflected on our audited financials for the 3rd quarter of 2015.\n$15,000,000.00 in total acquisition funding to Bayport over the course of 180 days.\n$7,500,000.00 is to be received within 90 days, and $7,500,000 to be received within 180 days.\nAcquisitions ownership and revenue are to be shared 80% to Bayport and 20% to LeBonds.\nAnnual 9% interest rate payable once a year, renewable or repayable after the first 2 years.\nBayport 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 \nAbout Bayport International Holdings, Inc.\nBayport 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 \nwww.BayportInternational.com\n \nCautionary Note Regarding Forward-Looking Statements\n \nThis 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...