Cuba Ventures Corp signs agreement for the Acquisition of Minority Stake in Licensed Florida USA based Cuba specialized travel agency
(Thomson Reuters ONE) -
Company launches 2 brand new websites for Havana, Cuba
VANCOUVER, British Columbia, July 27, 2017 (GLOBE NEWSWIRE) -- Cuba Ventures
Corp. (TSX-V:CUV) (OTCBB:MPSFF) (the "Company") is pleased to announce that it
has signed an agreement for the acquisition of a 19% minority stake in
International Business & Travel Opportunities, LLC ("IBTO"), a cash-flow
positive, fully licensed and bonded, Florida, USA based travel agency
specializing in travel to Cuba. IBTO organizes trips for American Citizens to
Cuba, in compliance with current and future US regulations. International
Business & Travel Opportunities' specializes in educational and cultural trips
to Cuba for groups of United States citizens wishing to visit Cuba. A definitive
agreement, signed July 27, 2017, ratifies the transaction with the single
shareholder of International Business & Travel Opportunities, LLC. The
acquisition was achieved through the sale of a 19% interest in "IBTO" to Cuba
Ventures Corp, through the issuance of 500,000 common shares of Cuba Ventures
priced at 0.05 cents and cash payment of CAD $10,000 for transaction costs, to
certain shareholders of International Business & Travel Opportunities, LLC. The
transaction is subject to TSX Venture Exchange acceptance.
Highlights of IBTO acquisition
* Ongoing creation and sale of legal U.S compliant Cuba Travel Packages across
proprietary 432 websites
* Sales of U.S legal travel offers to over *13 million annual U.S based web
visitors
* Sales of cruises to Cuba from U.S ports to over *13 million annual U.S based
web visitors
* Sales of flights from U.S airports to over *13 million annual U.S based web
visitors
* Company access to a valid U.S Travel license to further sales in the USA
*U.S web visitor data calculated at 38.6% of 35 million approximate total web
visitors to Cuba Ventures 432 proprietary websites
Significance of acquisition of International Business & Travel Opportunities,
LLC & compliance with U.S Cuba Travel policy
International Business & Travel Opportunities, LLC specializes in individuals
and groups traveling to Cuba. International Business & Travel Opportunities,
LLC, with its exclusive itineraries, has hosted educational group trips for;
Doctors, Lawyers, Accountants, Contractors, Hunting trips, fishing trips, hiking
and special festivals in accordance with USA travel restrictions. Cuba Ventures
Corp, through its wholly owned subsidiary Travelucion Media, owns and operates
432 Cuba-Centric websites with approximate annual visitors of over 35 million.
Since 2015, website visitors originating from the United States have jumped from
6% in 2015 to the current 38.6% of all visitors, providing a solid and
proprietary, highly targeted, Cuba focused consumer audience for legal travel
packages to Cuba. Through this equity partnership, IBTO Cuba Travel offers for
American Citizens will feature on these websites. IBTO is a fully licensed and
bonded, Cuba Specialist, Florida based agency, thus in total compliance with
current and upcoming U.S - Cuba travel regulations. Further, IBTO will seek, in
the coming weeks, U.S compliant sales agreements with major Cruise lines
currently sailing to Cuba and, a resulting booking engine will feature on all of
Travelucion Media's websites, allowing immediate booking and payment of high
sales volume cruise packages. Finally, a second IATA compliant flight booking
engine will be sought, allowing direct sales of flight tickets to Cuba from
major U.S currently operated by U.S airlines authorized to fly to major cities
in the Republic of Cuba.
Steve Marshall, Cuba Ventures CEO, commented on the IBTO deal:
"The acquisition of IBTO is an important milestone for the company. Current and
upcoming rules pertaining to travel to Cuba for Americans clearly benefit
American Licensed travel companies who offer trips to the Island nation. Allied
to this fact, our market research has shown that American consumers prefer to
book travel to Cuba through a licensed and bonded U.S based travel agency who
are compliant with American law, therefore, our acquisition of IBTO will allow
exactly that. We will be working alongside the team at IBTO to create travel
experiences that allow U.S Citizens to gain profound knowledge of Cuba while
experiencing the very best Cuba has to offer."
Latest 25 July US Cuba Travel - OFAC Travel rules for American Citizens:
https://www.treasury.gov/resource-
center/sanctions/Programs/Documents/cuba_faqs_20170725.pdf
Cuba Ventures Launches 2 brand new websites & provides update on IT program
Cuba Ventures Corp is delighted to announce the public beta launch of the
following revised websites:
www.CubaHavana.com
www.CubaHavanacity.com
Investors should note that the update of the further 93 remaining geographic
city/town/province websites remains on schedule.
Finally, under redevelopment by a separate IT team, the completion of the much
anticipated modernization of www.Havanatur.com and, the additional 68 multi-
language e-commerce booking websites, is on schedule for early August 2017.
About Cuba Ventures Corp.:
Cuba Ventures Corp. is a publicly traded Canadian company capitalizing on the
growth and unique opportunities in the USD $3.5 billion per year Cuban travel
and tourism industry. Travelucion, a wholly owned subsidiary, is a digital media
and marketing company which owns a vast portfolio of Cuba related websites and
online portals providing Cuba travel information in up to six languages,
featuring individual web assets for Cuba's popular cities and towns, online
booking solutions and online reservations through proprietary software, catering
to international visitors to Cuba. Travelucion's online travel division is a
licensed retail travel supplier handling millions of dollars in sales annually.
For further information on Cuba Ventures Corp. (TSX-V:CUV) or Travelucion visit
the Company's website at www.cubaventures.com or www.travelucion.com. The
Company has 72,412,487 shares issued and outstanding.
CUBA VENTURES CORP.
STEVE MARSHALL
______________________________
Steve Marshall
CEO
For further information contact myself or:
Nick Findler
Cuba Ventures Corp.
Telephone: 604-639-3850
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info(at)cubaventures.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 Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cuba Ventures Corp. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 27.07.2017 - 18:06 Uhr
Sprache: Deutsch
News-ID 554280
Anzahl Zeichen: 8971
contact information:
Town:
Vancouver, BC
Kategorie:
Business News
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"Cuba Ventures Corp signs agreement for the Acquisition of Minority Stake in Licensed Florida USA based Cuba specialized travel agency"
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