Santo Mining Corp. Announces Cancelation of Reverse Split and Other Corporate Actions.
October 08 2015 - 8:50AM
InvestorsHub NewsWire
FT.LAUDERDALE, FL -- October 8, 2015 -- InvestorsHub NewsWire --
Santo Mining Corporation (OTCQB:SANP),
(the "Company"), the board of directors had an extraordinary board
meeting this month, in which the majority of the board members
voted to cancel the board resolution of the previous board to do a
reverse split. Additionally; the board approved the filing of
a form-15, a name change of Santo Mining Corp. to Cathay Lifestyle
Holding, Inc. Immediately after the corporate name change,
the company will file with FINRA to change its trading
symbol. The company will be also filling the 2014-K, 2015-K
and the 1st 2016-Q in the next few weeks, including a
full disclosure statement of the company and its new business
model.
Franjose Yglesias, CEO of SANP Cathay Lifestyle Holding, Inc.,
commented, “My goal as CEO, Chairman and majority shareholder is to
create value for the shareholders. I will accomplish this by
eliminating 70% of the current professional services, eliminating
directorship salaries and renegotiating the current debts inherited
by previous management. In conjunction with sales, we will be
creating value for our shareholders.” Additional Matthew
Arnett, CMO of SANP Cathay Lifestyle Holding, Inc., stated, “we are
more than a cigar distribution company, we are a luxury lifestyle
and brand marketing firm for the Asian community. Under CLH
we will have various business units, like luxury cigars, high-end
spirits, luxury social media brand awareness, sports bars, and the
development of our “cigar jazz lounges”, our goal is to cater
unique lifestyle experience to the one per centers of Asia.”
About SANP
Cathay Lifestyle Holdings Inc., we are a lifestyle brand
integration, marketing, design, development, education and
consultant for high value sales channel of luxury lifestyle
products in the leisure and entertainment sector. We have a
diverse portfolio of licensed brands as well as a wide range of
product categories. Our partners include, membership clubs,
golf clubs, financial services groups, nightclubs, restaurants,
lounges, sports bars, KTV’s, Duty Free Stores, e-commerce channels
and direct to consumers B2C across Asia. Our services embody
the interests, attitudes, and opinions of an elite group of
consumers that embrace a particular culture. Our Lifestyle brands
seek to inspire, guide, and motivate people, with the goal of our
products contributing to the definition of the consumer's way of
life. We operate off the ideology that we must attract and connect
people and brands to ultimately spur, set and create new
social phenomenon’s.
FORWARD LOOKING STATEMENT This press release contains certain
"forward-looking" statements, as defined in the United States
Private Securities Litigation Reform Act of 1995 that involve a
number of risks and uncertainties. Statements, which are not
historical facts, are forward-looking statements. The Company,
through its management, makes forward-looking public statements
concerning its expected future operations, performance and other
developments. Such forward-looking statements are necessarily
estimates reflecting the Company's best judgment based upon current
information and involve a number of risks and uncertainties, and
there can be no factors that could cause actual results to differ
materially from those estimated by the Company. They include, but
are not limited to, the Company's ability to develop operations,
the Company's ability to consummate and complete the acquisition,
the Company's access to future capital, the successful integration
of acquired companies, government regulation, managing and
maintaining growth, the effect of adverse publicity, litigation,
competition, sales and other factors that may be identified from
time to time in the Company's public announcements.
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