SANP Enters Letter of Intent to Acquire Dominican Republic Tobacco Company
December 14 2015 - 8:08AM
InvestorsHub NewsWire
FT.LAUDERDALE, FL -- December 14th, 2015 -- InvestorsHub
NewsWire -- Santo Mining Corporation also known as Cathay Lifestyle
Group Inc., (OTCPINK:SANP),
(the "Company"), announced the signing of a letter of intent to
purchase a controlling interest in a tobacco company in the
Dominican Republic, Tabacalera Café Fuerte SRL. Additional revenue
opportunities with this facility include the capability to broker
and export bulk high-grade tobacco as well as the manufacturing of
private label premium luxury cigars that would bear the Cathay
brand name “1421” in honored of China’s great armada lead by
Admiral Zheng He the year China discovered America.
Tabacalera Café Fuerte is based in Villa Gonzalez in the province
of Santiago in the Dominican Republic; they are a specialty tobacco
manufacturer and producer with licenses to farm, process, cure, and
export bulk tobacco. The Villa Gonzalez tobacco region in Dominican
Republic is what the Vuelta Abajo region is to Cuba when it comes
to high grade tobacco growing. Its tropical microclimate and the
rich terrain makes it ideal for the growth of Cuban Seed tobacco,
which is a highly desirable commodity around the world.
CEO Franjose Yglesias commented: “This announcement today
demonstrates another piece of the broader plan being put into
place. China is the largest importer of tobacco in the world and
according to the Observatory of Economic Complexity China imported
over $1.3 Billion dollars of bulk tobacco in 2013.
The acquisition of a profitable and operational tobacco
farm allows us to accelerate our growth plans and immediately
puts us in a position to participate in any governmental Request
for Proposal (RFP) for Dominican high-grade bulk tobacco and tap
into the $1.3 Billion dollar bulk tobacco import market.”
The company expects to close on the Dominican tobacco deal towards
the mid to end of the first quarter of 2016, as it also evaluates
additional acquisitions in other tobacco-regional
countries.
About SANP
Cathay Lifestyle Group 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.
Website: http://www.cathaycigars.com
Email: mailto:info@cathay.asia
Facebook: http://www.facebook.com/cathaycigars
Twitter: http://www.twitter.com/cathayinvestors
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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