MPH Ventures Closes First Tranche of Non-Brokered Private Placement
(Thomson Reuters ONE) -
VANCOUVER, British Columbia, Oct. 5, 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 August 14(th), the Company has closed
the first tranche of its non-brokered private placement financing and has raised
$402,800.00 by the issuance of 8,056,000 Units (the "Units") at a deemed price
of $0.05 per Unit. Each Unit consists of one common share and one non-
transferable share purchase warrant (the "Warrant"). Each Warrant entitles the
holder to purchase one additional common share at a price of $0.075 per share
for a period of five years expiring October 5, 2020. Shares issued in connection
with this private placement including any shares issued as a result of the
exercise of any Warrants will be subject to a four month hold period expiring
February 6, 2016. Aggregate finder's fees of $15,891.40 cash and 226,100 agent
warrants ("Agent Warrants") have been paid in connection with this offering. The
Agent Warrants are subject to the same terms and conditions as the subscriber
Warrants. Jim Pettit and Don Huston, insiders of the Company, purchased 300,000
and 60,000 Units respectively and pro groups purchased 1,400,000 Units of the
private placement.
The proceeds will be used to complete MPH Ventures' previously announced
acquisition of a 20% interest in Travelucion, an online travel digital media
company servicing international visitors to Cuba (see July 8th & August 14th
news releases), as well as for general working capital purposes.
The private placement is subject to TSX Venture Exchange acceptance.
MPH Ventures has signed a Definitive Agreement with the shareholders of
Travelucion S.L. 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. The Definitive
Agreement is subject to TSX Venture Exchange approval.
Travelucion is a cash-flow positive online travel digital 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.
About MPH Ventures Corp.:
MPH Ventures Corp. has approx. 22.1 million shares issued and outstanding.
MPH-Travelucion Presentation:
http://www.mphventurescorp.com/i/pdf/MPS_PPT.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 & CEO
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.
CONTACT: Email: info(at)mphventurescorp.com
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
--------------------------------------------------------------------------------
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
[HUG#1956870]
Unternehmensinformation / Kurzprofil:
Datum: 05.10.2015 - 20:37 Uhr
Sprache: Deutsch
News-ID 424845
Anzahl Zeichen: 7397
contact information:
Town:
Vancouver, BC
Kategorie:
Business News
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"MPH Ventures Closes First Tranche of Non-Brokered Private Placement"
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