MPH Ventures Signs Definitive Agreement to Acquire Interest in Travelucion, (A Travel Media Company Servicing Travelers to Cuba), Private Placement Announced
(Thomson Reuters ONE) -
VANCOUVER, British Columbia, July 8, 2015 (GLOBE NEWSWIRE) -- MPH Ventures Corp.
(TSX-V:MPS) (OTCBB:MPSFF) (Frankfurt:IJA2) (the "Company") is pleased to
announce, further to its news release of May 27(th), that it has signed a
Definitive Agreement with the shareholders of Travelucion S.L (the "Selling
Shareholders") pursuant to which the Company shall acquire a 20% interest in
Travelucion S.L in exchange for common shares of MPH Ventures and $100,000 in
cash with an option to acquire the remaining 80% interest.
Travelucion is a cash-flow positive online travel media company that specializes
in travel marketing, electronic reservation and online booking solutions for
international visitors to Cuba. It owns one of the most significant portfolios
of Cuba focused web properties and domains that have been promoting Cuba and
offering online travel services to the Caribbean nation since 1995. Recently,
Travelucion's revenues have been increasing in the wake of the notable shift in
American policy towards Cuba as diplomatic relations between the two nations
normalize and with travel restrictions on Americans visiting Cuba expected to
gradually relax. Online booking is one of the fastest growing sectors in the
travel industry and Travelucion is poised to take advantage of this rapid
growth.
Travelucion owns 100% of 432 web assets popularizing Cuban Culture, Music,
Celebrities, over sixty major tourist destinations, Golf, Banking and Commerce
which collectively generate over 30 million page-views per year. Through legacy
agreements with Cuba's largest travel companies, Travelucion's emblematic e-
commerce brands like Havanatur.com, Cuba VIP and GoCuba provide the company with
access to a broader and more diverse portfolio of national travel and tourism
packages in Cuba than any other travel provider. Travelucion is also uniquely
established to handle the travel requirements of qualified U.S. travelers to
Cuba. This allows permitted U.S. travelers, in addition to non-U.S. travelers,
the ability to indulge in high end hotel and spa accommodations or create
uniquely Cuban travel packages with exclusive private home rentals,
exotic/antique car services and access to a multitude of exhilarating guided or
self-discovery tours across Cuba. Travelucion has also developed a strong social
media platform of passionate Cuba social media followers across Facebook,
Twitter, Pinterest and Instagram.
MPH Ventures and Travelucion will continue to expand the existing travel and
Cuba focused marketing initiatives in numerous sectors with a specific spotlight
on the emerging U.S.-Cuba travel market.
* Travelucion is launching the development of mobile and web-based interfaces
that will allow the company to offer near real-time reservations based on
existing technology available for Cuban hospitality, leisure and travel
services.
* This solution will permit all visitors to Cuba to preview and book private
homes directly from their phones, order classic car tours on demand, reserve
private restaurants, tours and adventures in real time, yet with a uniquely
Cuban style. This will also promote Cuban homeowners and entrepreneurs
through providing the portal, opportunity and the tools that allow them to
compete in the nascent U.S.-Cuba travel market.
* The company is preparing its 432 multi-language Cuba web properties for
Global Distribution System (GDS) integration in preparation for GDS real-
time bookings through Amadeus, Abacus and, when authorized, American GDS
companies Travelport and Sabre.
* Travelucion will begin offering Carnival cruises to Cuba across its 432 Cuba
web properties.
* Travelucion will begin to promote to its high volume of U.S. based website
visitors the services and offers from U.S. travel corporations as and when
these are authorized.
List of Travelucion web properties:
http://www.mphventurescorp.com/i/pdf/travelucion-web-properties.pdf
MPH will acquire 20% of the Selling Shareholder's shares in Travelucion in
consideration of the issuance to the Selling Shareholder of 4,000,000 shares of
MPH Ventures at a deemed price of $0.05 per share and CAD $100,000 in cash.
Prior to closing this transaction, MPH Ventures is required to complete a
private placement of $600,000.On closing, MPH Ventures will become the
registered holder of 20% of the issued and outstanding shares of Travelucion.
Closing of the acquisition of the initial 20% interest in Travelucion is subject
to the acceptance for filing of the Definitive Agreement by the TSX Venture
Exchange.
MPH Ventures has a further option, for a period of eight months, to acquire the
remaining 80% (for a total of 100% interest) from the Selling Shareholders. The
Company will be required to issue a further 16,000,000 MPH Venture shares at a
deemed price equal to the previous 10-day volume weighted average price per
share up to and including the date notice is given by MPH Ventures to the
Selling Shareholders to acquire the remaining 80% of the issued and outstanding
shares of Travelucion.
MPH Announces Private Placement:
MPH Ventures announces a non-brokered private placement of up to 12,000,000
units (the "Unit") at a price of $0.05 per unit to raise proceeds of up to
$600,000. Each Unit consists of one common share and one non-transferable share
purchase warrant (the "Warrant"). Each Warrant will entitle the holder to
purchase one common share, for a period of five years, at a price of $0.075 per
share. The proceeds will be used for the aforementioned growth opportunities and
corporate developments with Travelucion, as well as for general working capital
purposes.
A finder's fee of 7% in cash and 7% in non-transferable warrants (the "Finder's
Warrants") may be paid in connection with part of this private placement. Each
Finder's Warrant will entitle the finder to purchase a common share at a price
of $0.075 per share for a period of five years from the closing date of the
private placement.
The private placement is subject to TSX Venture Exchange acceptance.
With the most significant shift in American policy towards Cuba in over fifty
years, MPH Ventures is continuing to evaluate potential investment opportunities
regarding Cuba.
About MPH Ventures Corp.:
MPH Ventures Corp. has approx. 14.1 million shares issued and outstanding.
MPH-Travelucion Presentation:
http://www.mphventurescorp.com/i/pdf/MPS_PPT.pdf
Travelucion Media Kit:
http://www.mphventurescorp.com/i/pdf/travelucion-media-kit.pdf
For further information on MPH Ventures Corp. (TSX-V:MPS) visit the Company's
website at www.mphventurescorp.com.
MPH VENTURES CORP.
"Jim Pettit"
______________________________
James G. Pettit
President
For further information contact myself or:
Don Myers
MPH Ventures Corp.
Director
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info(at)mphventurescorp.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.
This release includes certain statements that may be deemed to be "forward-
looking statements". All statements in this release, other than statements of
historical facts, that address events or developments that management of the
Company expects, are forward-looking statements. Although management believes
the expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ materially from those
in the forward-looking statements. The Company undertakes no obligation to
update these forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change. Factors that could cause actual
results to differ materially from those in forward-looking statements, include
market prices, exploration and development successes, continued availability of
capital and financing, and general economic, market or business conditions.
Please see the public filings of the Company at www.sedar.com for further
information.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: MPH Ventures Corp. via GlobeNewswire
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