Cuba Ventures Corp Raises Additional $900,000 through Recent Warrant Exercise. Commences study of World Bank Data for $86 USD Billion annual Latin American and Caribbean Remittance Industries
December 1, 2017
Vancouver, BC – Cuba Ventures Corp. (TSX-V: CUV) (Frankfurt: IJA2) (OTCBB: MPSFF) (the "Company") Fintech Division - is pleased to announce that in November, 13,760,086 warrants have been exercised, recently raising an approximate $900,000 in net proceeds for the company. The company is well funded with approximately $1,400,000 in the treasury. During this period, the company traded 60.2 million shares.
World Bank Remittance Data
The company has initiated a comprehensive study of the Latin American and Caribbean remittance markets. The period under analysis is 2010 to 2017. The company intends to use the data to form an immediate market penetration strategy. With over $84 Billion of annual remittance inflows into Latin America and The Caribbean, Revolupay and CCU Coin, after an initial launch in Cuba and the Bahamas, shall be deployed chronologically, according to country-specific inflows.
Revolupay® National Master Franchise Program Under Development
Management concludes that to maximize rollout and harmonize the various markets, a nation specific master franchise program could greatly increase the market penetration. Master franchisee holders would be established business people within their respective nation and, would receive a royalty on all transaction inflows into their country, while being directly involved in the local adoption of Revolupay® within their specific region. All master franchisees would be supported by a widespread corporate marketing campaign, allied to country specific websites. Master franchisees will be permitted to establish an internal sub-franchisee network of disbursement centers and financial institutions.
Update: Current Stage of Development of Blockchain-based Revolupay® & ₡CU Coin:
- Revolupay® name and design mark filed with Chinese Intellectual Property Office
- Revolupay® name and design mark filed with European Patent and Trademark Office
- Revolupay® name and design mark filed with Russian Intellectual Property Office
CubaFin Partner Updates:
As previously announced, due to the latest addition of Revolupay® and CCUCoin Cryptocurrency, the Company is conscientiously finalizing the modified definitive agreements with Al-Fahim Technologies and Bhavnani Corporation. News on these definitive agreements is forthcoming.
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 duly licensed retail travel supplier handling millions of dollars in sales annually.
Cuba Ventures Corp has acquired an equity interest in a Florida, the USA domiciled, licensed and bonded travel agency which specializes in travel to Cuba. This equity ownership permits the company and, its subsidiary Travelucion, to promote U.S compliant travel packages to Americans citizens through its equity partner International Business & Travel Opportunities, LLC, Fort Lauderdale, Florida, USA.
Travelucion's 432 Cuba focused multilingual websites generate over 35 million page-views per year, directing traffic to the company's online booking and e-commerce sites. These online websites cover all facets of Cuba including over 80 travel destinations, hotels & resorts, bed & breakfast, tours, car rentals, restaurants, as well as Cuban culture, history, music, celebrities, sports, medical treatments and more.
Cuba Ventures' FinTech division is embracing world renowned entities to bring together a global force to stimulate Cuba's archaic economic systems. Financing of both internal and external debt, ₡CU Coin Cryptocurrency, and Revolupay® blockchain deployment across the all-important private enterprises and remittance industry are primary objectives of this division. Finally, bridge loans for foreign enterprises who receive Cuban bank payment instruments will enable faster transactions and rapid advances in the economy.
Cuba Ventures consulting division harnesses over 80 years of combined advisor experience in submitting and, obtaining approval, for joint ventures, joint production agreements, and import/export permits for foreign enterprises. More recently the company has taken a royalty approach for future agreements between third parties anxious to begin commercial operations with Cuba and, the company's Cuba Consulting Unit. Current contractual partnerships include Tyrval, a worldwide hotel industry supplier. Cuba Ventures intends to augment the amount of financially beneficial consulting related businesses.
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 has 95,648,850 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.