VANCOUVER, British Columbia, Aug. 08, 2017 (Globe NEWSWIRE) — Cuba Ventures Corp. (TSX-V:CUV) (OTCBB:MPSFF) (the “Company”) is pleased to announce that it has entered into a Letter of Intent (“LOI”) with AL-FAHIM Systems Team (“AFTG”) which outlines the normal phrases and disorders of the proposed development of a Cuba Financing system to be named CUBAFIN. The preliminary funding, agreed by the partner “AFTG”, for small to medium time period loans to non-governmental, non-military services or non-security power entities, is $forty million Euros (approx. $fifty nine million CAD), Cuba Ventures Corp has determined many Cuba related alternatives which would profit from the said funding.
Acquisition of IBTO Florida Journey Agency Finished
The Enterprise is pleased to announce the receipt of TSX Enterprise Trade acceptance to a Share Acquire Agreement pursuant to which the Enterprise obtained a 19% fascination in Global Small business and Journey Chances LLC, a Florida based mostly travel company. Thought under the agreement is the issuance of five hundred,000 shares at a considered price of $.05 and the payment of $ten,000 CDN. Shares issued pursuant to this transaction are issue to Canadian and US maintain resale limits.
Through the Florida Licensed travel organization IBTO, in which the organization now owns equity, legal group travel offers, flights & cruises for Individuals, can be promoted across all 432 web sites owned by Cuba Ventures Corp, directly into the U.S market.
Proposed development of CUBAFIN funding system
Cuba Ventures Corp. entered into a Letter of Intent with AL-FAHIM Systems Team, Dubai, UAE “www.alfahimtechnologies.com”. AL-FAHIM Systems Team was started by Dr Sulaiman Al-Fahim and has in excess of three hundred million in present investments, with an goal to commit 5 billion USD in excess of the up coming 3 years in many sectors which include, Fintech, biotech, nontech, blockchain, strength, software, components, and many others. “AFTG” intends to participate in a proprietary funding system to aid small to medium phrases loans for Cuba related transactions, the two personal and worldwide, with an preliminary capitalization of $forty million Euros (approx $fifty nine million CAD). All seed cash for loans to be delivered by AL-FAHIM Systems Team. The CUBAFIN finance system intends to supply payment remedies for Letter of Credit history (LC) holders, small time period funding needs and, to stimulate the self-used personal economy, supplying Cuban entrepreneurs accessibility to considerably needed cash. Through CubaFin, Cuba Ventures Corp hopes to assemble many promotions it has determined in excess of the previous twelve months, which could directly influence the company’s revenues, especially in the Cuba Journey & Media sectors connected with the wholly owned subsidiary Travelucion. Also, the CubaFin system hopes to help third party financiers to directly finance outstanding secured receivables even though obtaining over market fascination returns. CubaFin must attraction to modest and medium-sized enterprises (SMEs) wanting for an enhanced way of performing cash funding by advertising their outstanding suggests of payment assortment from product sales in the Cuban market (normally LC and Secured Drafts) by transferring the credit rating rights to CubaFIN and, its financiers. Contrary to conventional invoice finance, CubaFin will be rapidly, flexible and utilize clear agreement phrases. The Enterprise is performing towards a definitive agreement.
Tyrval partnership expected to be very first benefactor of CUBAFIN
As a direct consequence of the recent professional mission to Cuba, Cuba Ventures partner Tyrval hopes to submit in excess of ten million USD in gives right before 12 months close. If these gives are accepted by the entities included, these product sales would be the very first to profit from CUBAFIN related bridge-funding. Buyers are reminded that Tyrval revenue is issue to a 5% royalty payable to Cuba Ventures in addition, any dividends derived from the CUBAFIN divisions bridge funding of these proposed product sales.
Cuba Ventures Corp Consulting Division
The Company’s Journey and Media division proceeds to develop under its different and present unique administration group, nevertheless, shareholders are conscious that Cuba Ventures Corp retains a group of pros with a put together +60 years experience dealing with Cuba, in varied professional, legal and money fields. In March 2016 the organization engaged the Cuba banking skilled Alfredo Manresa, to begin with as an advisor and, more lately, assuming the role as director. The Consulting division is spearheaded by Mr. Manresa and his group, impartial of the core facets of travel and media. The premise of this Consulting Division, is to compliment the company’s R&D attempts in all realms, which include, long term ventures which might, therefore, become directly or indirectly related to the core travel and media organization. Consulting attempts, these as partnering with Tyrval, securing investments for new or refurbished hotel developments and attributes or, performing with partners who augment the effectiveness of the hospitality industry in Cuba, invariably transmit secondary profit to Cuba Ventures in its nucleus travel and media sectors. As a self financed division, whose cash flow is derived by person consulting revenue, cash flow or equity, the consulting division sites minor if any money burden on Cuba Ventures Corps expenditures. For Cuba Ventures to expand its existence in other Cuba related activities, an lively consulting division is paramount to reaching this essential aim. At last, a money part, these as CUBAFIN, assures to Cuba Ventures, fast bridge-mortgage approval of sure transactions even though, augmenting the money security of these. The administration as a result concludes that the impending advent of CUBAFIN could enjoy a beneficial role in the attempts of the consulting division even though, concurrently, giving additional revenue in core divisions.
About Cuba Ventures Corp.:
Cuba Ventures Corp. fascination is a TSX.V stated organization capitalizing on the expansion and one of a kind alternatives in the USD $3.5 billion for each 12 months Cuban travel and tourism industry. Travelucion, a wholly owned subsidiary, is a electronic media and marketing and advertising organization which owns a vast portfolio of Cuba related web sites and online portals giving Cuba travel data in up to six languages, that includes person world wide web belongings for Cuba’s preferred towns and cities, online booking remedies and online reservations by proprietary software, catering to worldwide guests to Cuba. These web sites deliver in excess of 35 million page-sights for each 12 months. Travelucion’s online travel division is a duly accredited retail travel provider managing thousands and thousands of bucks in product sales annually.
Cuba Ventures Corp has obtained an equity fascination in a Florida, United states domiciled, accredited and bonded travel company which specializes in travel to Cuba. This equity ownership permits the organization and, its subsidiary Travelucion, to endorse U.S compliant travel offers to American citizens by its equity partner Global Small business & Journey Chances, LLC, Fort Lauderdale, Florida, United states.
Cuba Ventures consulting division harnesses in excess of 60 years of put together advisor experience in distributing and, obtaining approval, for joint ventures, joint generation agreements, and import/export permits for foreign enterprises. Far more lately the organization has taken a royalty tactic for long term agreements in between third parties anxious to begin professional functions with Cuba and, the company’s Cuba Consulting Unit. Present-day contractual partnerships include things like Tyrval, a globally hotel industry provider. Cuba Ventures intends to augment the amount of money of economically beneficial consulting related partnerships.
For even more data on Cuba Ventures Corp. (TSX-V: CUV) or Travelucion go to the Company’s web-site at www.cubaventures.com or www.travelucion.com. The Enterprise has seventy three,012,487 shares issued and outstanding.
CUBA VENTURES CORP.
STEVE MARSHALL, CEO
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Cuba Ventures Corp.
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This release contains sure statements that might be considered to be “ahead-wanting statements”. All statements in this release, other than statements of historical facts, that deal with occasions or developments that administration of the Enterprise expects, are ahead-wanting statements. Even though administration believes the expectations expressed in these ahead-wanting statements are based mostly on affordable assumptions, these statements are not assures of long term functionality, and genuine results or developments might differ materially from those people in the ahead-wanting statements. The Enterprise undertakes no obligation to update these ahead-wanting statements if management’s beliefs, estimates or viewpoints, or other variables, must change. Aspects that could lead to genuine results to differ materially from those people in ahead-wanting statements, include things like market rates, exploration and improvement successes, continued availability of cash and funding, and normal economic, market or organization disorders. Please see the general public filings of the Enterprise at www.sedar.com for even more data.