WILMINGTON, DE, United States, via ETELIGIS INC., 10/21/2014 - - Cabo Verde Capital Inc. (OTC Pink: CAPV) (PINKSHEETS: CAPV) (the Company), is very pleased to announce that subsequent to the development plans previously announced on June 24th and July 16th, 2014, the Company has completed the acquisition of two resort property assets in the Cape Verde Islands.
On September 22, 2014, the Company acquired 100% ownership of Cabo Verde Capital, Sociedade Unipessoal, LDA, a privately held Cape Verdean company, which owns a 10 hectare site on the island of Sal in Cape Verde by way of a share exchange for which the Company will issue 31,040,000 shares of common stock. This sea front site is destined for hotel development.
On October 9, 2014, the Company also acquired 100% ownership of Cabo Verde Developments, Sociedade Unipessoal, S.A., a privately held Cape Verdean company, which owns as its sole asset, an existing boutique resort in the bay of Baia das Gatas on Sao Vicente Island named The Boathouse or Simpatico Beach Baia by way of a share exchange for which the Company issued 5,000,000 common shares. The acquisition was in accordance with the terms of a memorandum of understanding that the company had previously entered into. The project consists of 11 terraced houses and a sea front club-bar-restaurant.
The transfer of title and registration process is being completed for both acquisitions which currently have an estimated value of 5-6 million euros based on recent comparable transactions in the region. The Company intends to commission a formal valuation.
As part of the transition of the Company to its new course of business, the Board of Directors has accepted the resignation of Robert Rosner as a Director and CEO effective September 19. Mr. Rosner will continue to assist the Company on a consulting basis. The Watair water-from-air business and assets are being sold and transferred to Mr. Rosner.
About Cabo Verde Capital Inc.
Cabo Verde Capitals activities are based on three main pillars: Real Estate, Hospitality and Casino development and the exploitation of these three segments.
The Company expects to continue to conclude transactions with the Vendors and their affiliates and others in order to acquire and develop real estate projects exclusively in the Island Country of Cape Verde.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. For more information please contact Corporate Relations at 302-824-7077 or info@caboverdecapital.com
John Duggan
President
Forward-looking Statement:
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS," AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH REAL ESTATE DEVELOPMENT AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL AND QUARTERLY REPORTS FILED AND PUBLISHED ON WWW.OTCMARKETS.COM, RESPECTIVELY, AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY''S ABILITY AND LEVEL OF SUPPORT FOR ITS DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY''S EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED AND PUBLISHED FROM TIME-TO-TIME ON WWW.OTCMARKETS.COMTHIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NO SECURITIES REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALLTHERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
CONTACT:
Corporate Relations
302-824-7077
info@caboverdecapital.com
SOURCE: Cabo Verde Capital Inc.