VANCOUVER, British Columbia, Aug. 25, 2017 (GLOBE NEWSWIRE) -- Cuba Ventures Corp. (TSX-V:CUV)
(OTCBB:MPSFF) (the “Company”) is pleased to announce the closing of its non-brokered private placement financing announced on
August 18, 2017 (the "Private Placement"). Pursuant to the Private Placement the Company has issued 4,900,000 units at a
price of $0.05 per unit for gross proceeds of $245,000. Each unit consists of one common share and one share purchase warrant
with each warrant entitling the holder to purchase one additional common share of the Company at a price of $0.075 for a period of
two years. The Company is paying finders’ fees and has issued finders’ warrants in connection with this Private Placement in
the amount of $6,475 cash and the issuance of 129,500 finders’ warrants which have the same terms as the subscribers’ warrants. The
net proceeds of the Private Placement will be used to fund working capital. The securities issued under this private
placement are subject to restrictions on transfer, including a hold period ending four months after issuance. Shares issued
in connection with this private placement and any shares issued as a result of exercise of warrants will be subject to a hold
period expiring December 26, 2017.
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, a wholly owned subsidiary, is a digital media and
marketing company which owns a vast portfolio of Cuba related websites and online portals providing Cuba travel information in up
to six languages, 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
licensed retail travel supplier handling millions of dollars in sales annually.
For further information on Cuba Ventures Corp. (TSX-V:CUV) or Travelucion visit the Company’s website at
www.cubaventures.com or www.travelucion.com. The Company has 78,412,487 shares issued and outstanding.
CUBA VENTURES CORP.
STEVE MARSHALL
______________________________
Steve Marshall
CEO
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.
For further information contact myself or: Nick Findler Cuba Ventures Corp. Telephone: 604-639-3850 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@cubaventures.com
