VANCOUVER, British Columbia, Oct. 20, 2015 (GLOBE
NEWSWIRE) -- MPH Ventures
Corp. (TSX-V:MPS)
(OTCBB:MPSFF) (Frankfurt:IJA2) (the "Company") is pleased to
announce, further to its news releases of July 8th & August
14th, the Company has completed the acquisition of a 20% interest
in Travelucion S.L. by the issuance of 4,000,000 shares of MPH
Ventures at a deemed price of $0.05 per share and the payment of
CAD $100,000 to the selling shareholder of Travelucion S.L.
On July 8th, MPH
Ventures signed a Definitive Agreement with the shareholder of
Travelucion S.L. pursuant to which the Company shall acquire a 20%
interest in Travelucion S.L. in exchange for 4,000,000 shares of
MPH Ventures and CAD $100,000 in cash with an option, for a period
of eight months, to acquire the remaining 80% interest by the
issuance of a further 16,000,000 shares. The Definitive Agreement
is subject to TSX Venture Exchange approval.
Travelucion is a cash-flow positive online travel
digital 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 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.
MPH Ventures also announces, further to its news
releases of August 14th &
October 5th, the Company
has closed the second and final tranche of its non-brokered private
placement financing and has raised $359,500 for a total raised of
$762,300 by the issuance of 15,246,000 Units (the "Units") at a
deemed price of $0.05 per Unit. Each Unit consists of one common
share and one non-transferrable share purchase warrant (the
"Warrant"). Each Warrant entitles the holder to purchase one
additional common share at a price of $0.075 per share for a period
of five years expiring October 16, 2020. Shares issued in
connection with this private placement including any shares issued
as a result of the exercise of any Warrants will be subject to a
four month hold period expiring February 17, 2016. No finder's fees
were paid in connection with the second tranche closing. William
Trimble, an insider of the Company, has purchased 3,000,000 Units
of the private placement.
Early Warning
Report:
Steve Marshall, majority owner of Travelucion
S.L., has purchased 1,000,000 Units of the private placement. As a
result of the purchase, Mr. Marshall now holds 5,000,000 common
shares of MPH Ventures representing approximately 15.01% of the
issued and outstanding common shares and 1,000,000 share purchase
Warrants of the Company, as of the date hereof, on a non-diluted
basis. Assuming full exercise of the Warrants, Mr. Marshall would
hold 6,000,000 shares representing 17.65% of the outstanding shares
of MPH Ventures. A copy of the Early Warning Report may be found on
www.SEDAR.com. Mr. Marshall's shares and Units will be held in
trust until TSX Venture Exchange approval.
Proceeds from the private placement have been used
to complete MPH Ventures acquisition of a 20% interest in
Travelucion, as well as for general working capital purposes.
The private placement is subject to TSX Venture
Exchange acceptance.
About MPH Ventures
Corp.:
MPH Ventures Corp. has approx. 33.3 million shares
issued and outstanding.
MPH-Travelucion
Presentation:
http://www.mphventurescorp.com/i/pdf/MPS_PPT.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 & CEO
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.
CONTACT: Email: info@mphventurescorp.com
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
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#1959966
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