VANCOUVER, British Colombia, Oct. 20, 2016 (GLOBE NEWSWIRE) -- Cuba Ventures Corp. (TSX-V:CUV)
(OTCBB:MPSFF) (the "Company”) announces a non-brokered private placement of up to 10,000,000 units (the "Unit") at a price of $0.05
per unit to raise proceeds of up to CDN $500,000. Each Unit will consist of one common share and one non-transferable share
purchase warrant (the "Warrant"). Each Warrant will entitle the holder to purchase one additional common share, for a period of two
years, at a price of $0.075 per share. The proceeds will be used for modernizing the current travel booking websites as well as
other corporate developments, and 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 two years from the closing date of the private placement. The private placement is subject to
TSX Venture Exchange acceptance.
Cuba Ventures in the News and
Media:
September 1st, 2016 marked the first commercial flight departing from the US and arriving in Cuba
since 1961. Under the new agreement between the US and Cuba there will be 110 commercial flights per day between the two countries.
With the first commercial flights from the US west coast set to commence in January 2017, Cuba Ventures CEO Steve Marshall was
interviewed in California this month by the following networks:
About Cuba Ventures
Corp.:
Cuba Ventures Corp. is a publicly traded Canadian company capitalizing on the growth and unique opportunities in
the USD $3.5 billion per year Cuban travel and tourism industry. Travelucion Media, a wholly owned subsidiary of Cuba Ventures, is
a digital media and marketing company which owns a vast portfolio of Cuba related websites and online portals providing travel
information, featuring individual web assets for Cuba's popular cities and towns, online booking solutions and online reservations
through proprietary software, catering to international visitors to Cuba. Travelucion's online travel division is a duly licensed
retail travel supplier handling millions of dollars in sales annually.
Travelucion's 432 Cuba focused multilingual websites generate over 30 million page-views per year, directing
traffic to the company's online booking and e-commerce sites. Recently this traffic has become a cornerstone of the company’s
assets, positioning it to direct highly targeted web traffic towards specific partnerships including the MOU with SPORTTU and
Collaboration Agreement with Mercosur. Cuba Ventures will continue to monetize and develop its Cuba centric web traffic going
forward. Travelucion’s websites cover all facets of Cuba including over 80 travel destinations, hotels & resorts, bed &
breakfast, tours, car rentals, restaurants, as well as Cuban culture, history, music, celebrities, sports, medical treatments and
more.
Travelucion's revenues have been rapidly growing in the wake of the notable shift in American policy towards
Cuba. With diplomatic relations now normalized and restrictions on qualified American travel to Cuba relaxed, opening of the
multi-billion dollar travel market to the Caribbean nation is becoming a reality. Further, with President Obama having now
legalized the sale of Cuban cigars, rum and foods, we see yet another illustration of improved relations with Cuban goods now
available across North America, opening up an all new advertising opportunity for Cuban producers desirous of promoting their
brands and products on a worldwide stage. Travelucion's continued media dominance over the past two decades has provided Cuba
Ventures with a competitive advantage in the burgeoning Cuba media space. With the relaxing of rules for American travelers to Cuba
and the potential of further easing, along with recently announced sales of Cuban goods in the US, growth and investment
opportunities are on the rise in Cuba.
For further information on Cuba Ventures Corp. (TSX-V:CUV) or Travelucion Media visit the Company's website at
www.cubaventures.com or www.travelucion.com. Cuba Ventures Corp. has approx. 62.6 million shares issued and
outstanding.
CUBA VENTURES CORP.
STEVE MARSHALL
______________________________
Steve Marshall
CEO
For further information contact myself or:
Nick Findler
Cuba Ventures Corp.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@cubaventures.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.
