MPH Ventures Signs Definitive Agreement to Acquire Interest in Travelucion, (A Travel Media Company Servicing Travelers to Cu...
July 08 2015 - 9:07AM
VANCOUVER, British Columbia, July 8, 2015 (GLOBE
NEWSWIRE) -- MPH Ventures
Corp. (TSX-V:MPS)
(OTCBB:MPSFF) (Frankfurt:IJA2) (the "Company") is pleased to
announce, further to its news release of May 27th, that
it has signed a Definitive Agreement with the shareholders of
Travelucion S.L (the "Selling Shareholders") pursuant to which the
Company shall acquire a 20% interest in Travelucion S.L in exchange
for common shares of MPH Ventures and $100,000 in cash with an
option to acquire the remaining 80% interest.
Travelucion is a cash-flow positive online travel
media company that specializes in travel marketing, electronic
reservation and online booking solutions for international visitors
to Cuba. It owns one of the most significant portfolios of Cuba
focused web properties and domains that have been promoting Cuba
and offering online travel services to the Caribbean nation since
1995. Recently, Travelucion's revenues have been increasing in the
wake of the notable shift in American policy towards Cuba as
diplomatic relations between the two nations normalize and with
travel restrictions on Americans visiting Cuba expected to
gradually relax. Online booking is one of the fastest growing
sectors in the travel industry and Travelucion is poised to take
advantage of this rapid growth.
Travelucion owns 100% of 432 web assets
popularizing Cuban Culture, Music, Celebrities, over sixty major
tourist destinations, Golf, Banking and Commerce which collectively
generate over 30 million page-views per year. Through legacy
agreements with Cuba's largest travel companies, Travelucion's
emblematic e-commerce brands like Havanatur.com, Cuba VIP and
GoCuba provide the company with access to a broader and more
diverse portfolio of national travel and tourism packages in Cuba
than any other travel provider. Travelucion is also uniquely
established to handle the travel requirements of qualified U.S.
travelers to Cuba. This allows permitted U.S. travelers, in
addition to non-U.S. travelers, the ability to indulge in high end
hotel and spa accommodations or create uniquely Cuban travel
packages with exclusive private home rentals, exotic/antique car
services and access to a multitude of exhilarating guided or
self-discovery tours across Cuba. Travelucion has also developed a
strong social media platform of passionate Cuba social media
followers across Facebook, Twitter, Pinterest and Instagram.
MPH Ventures and Travelucion will continue to
expand the existing travel and Cuba focused marketing initiatives
in numerous sectors with a specific spotlight on the emerging
U.S.-Cuba travel market.
- Travelucion is launching the development of
mobile and web-based interfaces that will allow the company to
offer near real-time reservations based on existing technology
available for Cuban hospitality, leisure and travel services.
- This solution will permit all visitors to Cuba to
preview and book private homes directly from their phones, order
classic car tours on demand, reserve private restaurants, tours and
adventures in real time, yet with a uniquely Cuban style. This will
also promote Cuban homeowners and entrepreneurs through providing
the portal, opportunity and the tools that allow them to compete in
the nascent U.S.-Cuba travel market.
- The company is preparing its 432 multi-language
Cuba web properties for Global Distribution System (GDS)
integration in preparation for GDS real-time bookings through
Amadeus, Abacus and, when authorized, American GDS companies
Travelport and Sabre.
- Travelucion will begin offering Carnival cruises
to Cuba across its 432 Cuba web properties.
- Travelucion will begin to promote to its high
volume of U.S. based website visitors the services and offers from
U.S. travel corporations as and when these are authorized.
List of Travelucion web
properties:
http://www.mphventurescorp.com/i/pdf/travelucion-web-properties.pdf
MPH will acquire 20% of the Selling Shareholder's
shares in Travelucion in consideration of the issuance to the
Selling Shareholder of 4,000,000 shares of MPH Ventures at a deemed
price of $0.05 per share and CAD $100,000 in cash. Prior to closing
this transaction, MPH Ventures is required to complete a private
placement of $600,000.On closing, MPH Ventures will become the
registered holder of 20% of the issued and outstanding shares of
Travelucion. Closing of the acquisition of the initial 20% interest
in Travelucion is subject to the acceptance for filing of the
Definitive Agreement by the TSX Venture Exchange.
MPH Ventures has a further option, for a period of
eight months, to acquire the remaining 80% (for a total of 100%
interest) from the Selling Shareholders. The Company will be
required to issue a further 16,000,000 MPH Venture shares at a
deemed price equal to the previous 10-day volume weighted average
price per share up to and including the date notice is given by MPH
Ventures to the Selling Shareholders to acquire the remaining 80%
of the issued and outstanding shares of Travelucion.
MPH Announces Private
Placement:
MPH Ventures announces a non-brokered private
placement of up to 12,000,000 units (the "Unit") at a price of
$0.05 per unit to raise proceeds of up to $600,000. Each Unit
consists of one common share and one non-transferable share
purchase warrant (the "Warrant"). Each Warrant will entitle the
holder to purchase one common share, for a period of five years, at
a price of $0.075 per share. The proceeds will be used for the
aforementioned growth opportunities and corporate developments with
Travelucion, as well as for general working capital purposes.
A finder's fee of 7% in cash and 7% in
non-transferable warrants (the "Finder's Warrants") may be paid in
connection with part of this private placement. Each Finder's
Warrant will entitle the finder to purchase a common share at a
price of $0.075 per share for a period of five years from the
closing date of the private placement.
The private placement is subject to TSX Venture
Exchange acceptance.
With the most significant shift in American policy
towards Cuba in over fifty years, MPH Ventures is continuing to
evaluate potential investment opportunities regarding Cuba.
About MPH Ventures
Corp.:
MPH Ventures Corp. has approx. 14.1 million shares
issued and outstanding.
MPH-Travelucion
Presentation:
http://www.mphventurescorp.com/i/pdf/MPS_PPT.pdf
Travelucion Media Kit:
http://www.mphventurescorp.com/i/pdf/travelucion-media-kit.pdf
For further information on MPH Ventures Corp.
(TSX-V:MPS) visit the Company's website at
www.mphventurescorp.com.
MPH VENTURES CORP.
"Jim
Pettit" |
______________________________ |
James G.
Pettit |
President |
|
For further
information contact myself or: |
Don
Myers |
MPH Ventures
Corp. |
Director |
Telephone:
604-687-3376 |
Toll Free:
800-567-8181 |
Facsimile:
604-687-3119 |
Email:
info@mphventurescorp.com |
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.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: MPH Ventures Corp. via Globenewswire
HUG#1935370
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