Cuba Ventures Closes Private Placement
August 25, 2017
Vancouver, BC – Cuba Ventures Corp. (TSX-V: CUV ) (OTCBB: MPSFF ) (the “Company”) is pleased to announce the closing of its non-brokered private placement financing announced on August 18, 2017 (the "Private Placement"). Pursuant to the Private Placement the Company has issued 4,900,000 units at a price of $0.05 per unit for gross proceeds of $245,000. Each unit consists of one common share and one share purchase warrant with each warrant entitling the holder to purchase one additional common share of the Company at a price of $0.075 for a period of two years. The Company is paying finders’ fees and has issued finders’ warrants in connection with this Private Placement in the amount of $6,475 cash and the issuance of 129,500 finders’ warrants which have the same terms as the subscribers’ warrants. The net proceeds of the Private Placement will be used to fund working capital. The securities issued under this private placement are subject to restrictions on transfer, including a hold period ending four months after issuance. Shares issued in connection with this private placement and any shares issued as a result of exercise of warrants will be subject to a hold period expiring December 26, 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 78,412,487 shares issued and outstanding.
CUBA VENTURES CORP.
For further information contact myself or:
Cuba Ventures Corp.
Toll Free: 800-567-8181
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.