MPH Ventures Extends Agreement to Acquire Interest in Travelucion, (A Travel Media Company Servicing Travelers to Cuba), Priv...
August 14 2015 - 4:16PM
VANCOUVER,
British Columbia MPH Ventures Corp. (TSX-V:MPS)
(OTCBB:MPSFF) (Frankfurt:IJA2) (the "Company") announces, further
to its news release of July 08th, that the
Company and the shareholders of Travelucion S.L (the "Selling
Shareholders") have mutually agreed to extend the closing date to
September 30th 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.
-
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.
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.
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.
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
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