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 VENTURES CORP.
JAMES G. PETTIT
President & CEO
For further information contact myself or:
MPH 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.
CONTACT: Email: firstname.lastname@example.org Telephone: (604) 687-3376 Facsimile: (604) 687-3119