VANCOUVER, British Columbia, Aug. 14, 2017 (GLOBE NEWSWIRE) -- Cuba Ventures Corp. (TSX-V:CUV) (OTCBB:MPSFF) (the “Company”) Travel Division is pleased to announce that it has entered into a memorandum of understanding ("MOU") with Booketea for bilateral GDS integration into all 432 of the Cuba Ventures propriety Cuba-Centric websites for a payment of $25,000 euros. Booketea is Europe’s leading travel industry specialist, having provided similar GDS booking Technology for Segway Trip Inc, Fred Olsen Ferries, and Spa wellplus. Simultaneously, an MOU was signed with Enjoysea.com, a worldwide nautical activity marketer. This MOU includes worldwide distribution of Cuba’s enormous array of water sport activities, catamaran cruises, diving, jet ski and other nautical activities contracted through Travelucion, a wholly owned subsidiary of Cuba Ventures Corp. The Company expects increased revenues from its travel division as a result of these upcoming synergies.
Consulting & Fintech Divisions
Cuba Ventures welcomes two new advisors, Steven Geiger and Patrick Murphy to assist with projects related to the Al-Fahim Fintech venture and other commercial avenues to be established.
Booketea MOU
The Company owns possibly the world’s largest network of Cuba digital media assets, 432 Cuba-centric websites generating approximately 35 million visitors annually, and selling Cuba travel services from multiple associate sources. The Global Distribution System (GDS) is a worldwide travel distribution network operated by, amongst others, Amadeus, Sabre and Travelport. Most travel offers displayed on famous retail travel websites are in fact derived from the GDS, then displayed as proprietary offers by travel marketers worldwide. With the proposed partnership with Booketea, the Company will create a bilateral channel to the GDS, allowing worldwide sales on third party websites of services originating from ourselves, while likewise displaying offers from third parties under a commissionable structure on the Company’s propriety websites. This is an important step, especially for the nascent U.S. market, where over 90% of travel offers displayed on travel websites are derived from a GDS related source. Being a GDS supplier and seller aligns the Company with the two major U.S. travel giants, allowing its Cuba Travel offers to be transparently distributed by these when it is legal, under U.S. law, for them to do so.
EnjoySea.com MOU
EnjoySea has grasped a worldwide distribution niche market. The nautical activities associated with many vacations having, until now, been marketed directly at destination. This untapped market for pre-bookings of such offers to future visitors offers an increased revenue stream. Cuban nautical activities, proposed worldwide, could be immensely successful, especially considering the record numbers of visitors now making Cuba their next destination.
New Advisors Added to the Team in Preparation for the Planned Al-Fahim Fintech Definitive Agreement
Steven Geiger is a recognized global energy expert who has led multiple large-scale energy investment programs in emerging economies. Most recently he served as Chief Operating Officer for Skolkovo, the $5 billion Russian national technology & economic transformation agency tasked with innovating Soviet-era energy systems. Earlier, he was a Director of MASDAR, a $15 billion renewable energy company owned by Abu Dhabi government and one of the world’s largest renewable energy companies.
“I’m excited to advise Cuba Ventures Corp. as it expands into Cuban energy projects, especially renewable energy,” Geiger said. “The Soviet-era Cuban energy and power systems offer unprecedented investment opportunities, and two decades of transforming similar assets give Cuba Ventures Corp. a key advantage in identifying and executing the most attractive projects,” Geiger added.
Steve Marshall, CEO of Cuba Ventures Corp. added: “Mr. Geiger and I go back almost two decades. I am thrilled he has accepted my invitation to join our Advisory Board. Large scale renewable energy deployments in Cuba are imminent. Subsidized Venezuelan oil is disappearing; meanwhile renewables are already cheaper than existing oil-fired power stations. Cuba’s vital hard-currency earning sectors, like tourism in particular, need reliable and affordable power. Additionally, clean renewable power can only further strengthen Cuba’s attractiveness as a top tourism destination.”
W Patrick Murphy was Secretary of the largest real estate political action committee in the United States named Cen-Pac to protect Worldwide Intellectual Property. Mr. Murphy served on the Senior Management of Century 21 Real Estate Corporation developing niche market expertise to increase franchise sales by $22 million in one year. Mr. Murphy has thirty-nine years of broad based experience in entrepreneurial and corporate roles from start-ups to management of seasoned domestic and international organizations. Familiar with all phases of real estate franchise branding, real estate development and specialized travel development. W Patrick Murphy developed the largest real estate franchise network in the Caribbean Basin, Venezuela, Colombia and Central America with 45 offices, 500 agents in 23 countries or protectorates. BA Morningside College, MA University of South Dakota, Securities Licenses Series 39, 63, 22, GRI, CIPS, CCIM.
Mr. Murphy stated, “With hotel chains from the United States now operating numerous properties in Cuba, interest from other groups is at fever pitch. Cuba Ventures Corp., through its travel division, has identified numerous properties for its consulting division to analyze. Increased joint ventures opportunities with U.S. or worldwide hotel chains seem probable.”
Cuba Ventures CEO, Steve Marshall, commented, “I have followed Patrick’s prolific career for almost two decades. I am excited to have him join Alfredo Manresa and our Consulting Division, just as surmounting interest in Cuban resort and Hotel property management by International Hotel chains is getting into full swing.”
Cuba Ventures Acquires CubaFinTech.com Domain Name
Cuba Ventures Corp has acquired, on the secondary domain name market, www.CubaFinTech.com which it intends to develop in line with the proposed DA concerning a Fintech definitive agreement with Al-Fahim Technologies.
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.
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 73,012,487 shares issued and outstanding.
CUBA VENTURES CORP.
“Steve Marshall”
______________________________
STEVE MARSHALL
CEO
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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.