VANCOUVER, British Columbia, Dec. 01, 2017 (GLOBE NEWSWIRE) -- Cuba Ventures Corp. (TSX-V:CUV)
(Frankfurt:IJA2) (OTCBB:MPSFF) (the “Company”) Fintech Division - is pleased to announce that in November,
13,760,086 warrants have been exercised, recently raising an approximate $900,000 in net proceeds for the company. The company is
well funded with approximately $1,400,000 in the treasury. During this period, the company traded 60.2 million shares.
World Bank Remittance Data
The company has initiated a comprehensive study of the Latin American and Caribbean remittance markets. The
period under analysis is 2010 to 2017. The company intends to use the data to form an immediate market penetration strategy. With
over $84 Billion of annual remittance inflows into Latin America and The Caribbean, Revolupay and CCU Coin, after an initial launch
in Cuba and the Bahamas, shall be deployed chronologically, according to country-specific inflows.
Initial Study Data – PDF Link
Revolupay® National Master Franchise
Program Under Development
Management concludes that to maximize rollout and harmonize the various markets, a nation specific master
franchise program could greatly increase the market penetration. Master franchisee holders would be established business people
within their respective nation and, would receive a royalty on all transaction inflows into their country, while being directly
involved in the local adoption of Revolupay® within their specific region. All master franchisees
would be supported by a widespread corporate marketing campaign, allied to country specific websites. Master franchisees will be
permitted to establish an internal sub-franchisee network of disbursement centers and financial institutions.
Update: Current Stage of Development of Blockchain-based
Revolupay® & ₡CU Coin:
- Revolupay® name and design mark filed with Chinese Intellectual Property Office
- Revolupay® name and design mark filed with European Patent and Trademark Office
- Revolupay® name and design mark filed with Russian Intellectual Property Office
CubaFin Partner Updates:
As previously announced, due to the latest addition of Revolupay® and CCUCoin Cryptocurrency, the
Company is conscientiously finalizing the modified definitive agreements with Al-Fahim Technologies and Bhavnani Corporation. News
on these definitive agreements is forthcoming.
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
duly licensed retail travel supplier handling millions of dollars in sales annually.
Cuba Ventures Corp has acquired an equity interest in a Florida, the USA domiciled, licensed and bonded travel
agency which specializes in travel to Cuba. This equity ownership permits the company and, its subsidiary Travelucion, to promote
U.S compliant travel packages to Americans citizens through its equity partner International Business & Travel Opportunities, LLC,
Fort Lauderdale, Florida, USA.
Travelucion's 432 Cuba focused multilingual websites generate over 35 million page-views per year, directing
traffic to the company's online booking and e-commerce sites. These online 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.
Cuba Ventures’ FinTech division is embracing world renowned entities to bring together a global force to
stimulate Cuba’s archaic economic systems. Financing of both internal and external debt, ₡CU Coin Cryptocurrency, and
Revolupay® blockchain deployment across the all-important private enterprises and remittance industry are primary
objectives of this division. Finally, bridge loans for foreign enterprises who receive Cuban bank payment instruments will enable
faster transactions and rapid advances in the economy.
Cuba Ventures consulting division harnesses over 80 years of combined advisor experience in submitting and,
obtaining approval, for joint ventures, joint production agreements, and import/export permits for foreign enterprises. More
recently the company has taken a royalty approach for future agreements between third parties anxious to begin commercial
operations with Cuba and, the company’s Cuba Consulting Unit. Current contractual partnerships include Tyrval, a worldwide hotel
industry supplier. Cuba Ventures intends to augment the amount of financially beneficial consulting related businesses.
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 95,648,850 shares issued and outstanding.
CUBA VENTURES CORP.
STEVE MARSHALL
______________________________
Steve Marshall
CEO
For further information contact myself or:
Nick Findler
Cuba Ventures Corp.
Telephone: 604-639-3850
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.
