Cuba Ventures Corp – Record breaking revenues of CDN $1,628,989 in the third fiscal quarter of 2017.
May 1, 2017
Vancouver, BC – Cuba Ventures Corp. (TSX-V: CUV) (OTCBB: MPSFF) (the “Company”) is pleased to announce record breaking gross sales revenues of CDN $1,628,969 in the period from December 1, 2016 to February 28, 2017. While generating these record-breaking revenues, the Company has been able to maintain its historic gross profit margins at 26%.
Tim Fernback, Cuba Ventures’ CFO states “Our company has generated over CDN $1.6 million in unaudited revenue for the quarter December 1st to February 28, which is a corporate record. Growth in our gross revenues is directly related to increased interest in Cuba within our key geographic markets of Europe and North America. Other contributing factors include the heightened media attention in the United States surrounding the Company’s Cuba-centric digital media platform and our 432 websites focused upon Cuba. US interest in our company is growing, and visitors to the Company’s websites from the United States now represent 36.8% of the approximately 37 million annual page views, up from 6% in 2014.”
With these record-breaking quarterly revenues, the unaudited revenues for the nine month period ending February 28, 2017 are CDN$2,718,636.
“The future is bright for Cuba Ventures.” states Cuba Ventures’ CEO Steve Marshall. “We are looking forward to seeing the positive effects associated with the completion of our current website redesign to top-line revenue growth. The speed of our websites are being increased by 88%, as well as being fully mobile friendly. Once our web development is completed by mid-May this year, the modern look and increased functionality of our e-commerce websites will allow us to not only attract more customers but also complete larger service sales revenues each time they visit.”
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 travel information, 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.
Travelucion's 432 Cuba focused multilingual websites generate over 30 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.
Travelucion's revenues have been rapidly growing in the wake of the notable shift in American policy towards Cuba. With diplomatic relations now normalized and restrictions on qualified American travel to Cuba relaxed, opening of the multi-billion dollar travel market to the Caribbean nation is becoming a reality. Travelucion's continued media dominance over the past two decades has provided Cuba Ventures with a competitive advantage in the burgeoning Cuba travel and online media space. With the relaxing of rules for American travelers to Cuba and the potential of further easing, growth and investment opportunities are on the rise in Cuba.
Cuba Ventures consulting division harnesses over 60 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 comercial operations with Cuba and, the company’s Cuba Consulting Unit.
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 72,412,487 shares issued and outstanding.
CUBA VENTURES CORP.
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Cuba Ventures Corp.
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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.