MPH Ventures Completes Acquisition of Travelucion Media: Name Change to Cuba Ventures Corp.
March 18 2016 - 11:00AM
MPH Ventures Corp. (TSX-V:MPS) (OTCBB:MPSFF)
(Frankfurt:IJA2) (the “Company”) today announces that the Company
has received regulatory acceptance for its change of business
("COB") through the acquisition of a 100% interest in Travelucion
S.L. ("Travelucion Media"). The Company will undergo a name change
to Cuba Ventures Corp. and is scheduled to commence trading Monday
morning under the new symbol CUV on the TSX Venture Exchange.
Travelucion Media, now a wholly owned
subsidiary, is a cash-flow positive online travel and digital media
marketing company that specializes in travel marketing, electronic
reservations and online booking solutions for international
visitors to Cuba.
The COB was achieved through the acquisition of
the remaining 80% of the shares in Travelucion S.L. not previously
owned by the Company by the issuance of 16,000,000 common shares of
MPH Ventures to Mr. Steve Marshall. To reflect its new business,
the Company will change its name from MPH Ventures Corp. to Cuba
Ventures Corp.
Travelucion Media has developed and owns one of
the most significant portfolios of Cuban focused web assets with
432 websites collectively generating over 30 million page-views per
year, directing traffic to the main Travelucion Media booking and
e-commerce sites. Since 1995 these proprietary websites have been
promoting Cuba and offering online travel services to the Caribbean
nation. The websites cover all facets of the island including
specific tourist destinations, hotels and resorts, golf, spas,
restaurants, classic car rentals, Cuban culture, health, commerce,
food and much more.
Travelucion Media’s revenues have continued to
grow quickly in the wake of the notable shift in American policy
towards Cuba. Diplomatic ties are improving as the two nations
normalize relations and travel restrictions on Americans visiting
Cuba continue to relax.
Jim Pettit, President and CEO of MPH Ventures,
stated: “This is a significant milestone for the Company and its
shareholders. Cuba Ventures Corp. will commence trading Monday,
March 21st as one of the first and only Cuba-focused publically
traded vehicles in North America offering investors direct exposure
to the island. Our team is dedicated to value creation and
capitalizing on the growth and unique opportunities present in
Cuba. Our acquisition of Travelucion Media marks our initial entry
into Cuba and its largest sector the tourism industry.”
Steve Marshall, the Founder and President of
Travelucion Media, stated: “Taking Travelucion Media public is the
pinnacle of my life's work. Building an online travel and media
company focused on Cuba has required years of hard work and
relationship building on the island. Two decades later with
President Obama arriving in Cuba, the first sitting U.S. President
to visit Cuba in almost 90 years, my vision seems to be coming to
fruition. These past 15 months have been exciting times at
Travelucion Media with rapidly increasing travel-related revenues
as well as a surge in American web visitors to our 432 websites.
This growth clearly exemplifies the unwavering passion the American
people have to discover more about Cuba, a place I called home for
11 years.”
Mr. Marshall remains the President and CEO of
Travelucion Media, now a wholly owned sub of the Company. He is a
trilingual entrepreneur specializing in international marketing and
deal brokering. Steve spent 11 years in Cuba specializing in Cuban
joint ventures and successfully founded a number of companies
including the Primeras Inversiones (Havana Free Zone), the first
State approved real estate joint venture (CIMEX), the Dimension
W-Tech start-up joint venture with the Ministry of Communications,
and the first Cuba-centric online marketing company handling over
30 million annual internet visitors with the Ministry of
Tourism.
Steve's past Cuban ventures have received
coverage in the Financial Times, BBC News, CNN, Time Magazine,
Washington Post, Chicago Tribune and The Wall Street Journal. Steve
was a special advisor to a number of Cuban corporations
spearheading their entrance into the new economy and providing
support and investment in a range of commercial sectors. He is
knowledgeable concerning the idiosyncrasies of dealing with the
Cuban Government and Cuba's foreign investment laws.
About MPH Ventures Corp.:
MPH Ventures Corp. has acquired Travelucion
Media, now a wholly owned subsidiary of the Company. Travelucion
Media is a cash-flow positive online travel and digital media
company that specializes in travel marketing, electronic
reservations and online booking solutions for international
visitors to Cuba. Travelucion Media owns one of the most
significant portfolios of Cuban focused web assets, through its 432
websites, which collectively generate over 30 million page-views
per year and direct traffic to the main Travelucion booking sites
including www.Havanatur.com.
For further information on MPH Ventures Corp.
(TSX-V:MPS) or Travelucion Media visit the companies’ websites at
www.mphventurescorp.com or www.travelucion.com.
MPH VENTURES CORP.
“Jim Pettit”
______________________________
JAMES G. PETTITPresident & CEO
For further information, contact myself or:Don
MyersMPH Ventures Corp.DirectorTelephone: 604-687-3376Toll Free:
800-567-8181Facsimile: 604-687-3119Email:
info@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.
MPH Ventures Corp. (TSXV:MPS)
Historical Stock Chart
From May 2024 to Jun 2024
MPH Ventures Corp. (TSXV:MPS)
Historical Stock Chart
From Jun 2023 to Jun 2024