VANCOUVER, British Columbia, Sept. 19, 2017 (GLOBE NEWSWIRE) -- Cuba Ventures Corp. (TSX-V:CUV) (OTCBB:MPSFF) (the “Company”) is pleased to announce that it has entered into a memorandum of understanding ("MOU") with Bhavnani Corporation that is intended to form part of a broader agreement and corporate relationship between Cuba Ventures and Bhavnani Corp. Bhavnani Corporation has accumulated a worldwide reputation, through its honorary president and legendary European stock market investor, Mr. Ram Bhavnani. Further, the company is delighted to welcome Daniel Hernandez Rodríguez to its advisory board as senior banking technology advisor.
About BHAVNANI CORPORATION
BHAVNANI CORPORATION holds equity in numerous technology companies bringing value to its technology and IT focused subsidiaries from its position as a significant shareholder and its active participation in the Boards of Directors and, in other governing bodies of these companies. BHAVNANI CORPORATION invests in companies with high potential, strong management teams, with great financial strength and flexibility and with a proven competitive advantage in their relevant sectors. In addition, the stock market knowledge and impeccable reputation of its honorary president, Mr. Ram Bhavnani, underlines its continued investment activity.
As a result of one of the high level meetings in Europe, Cuba Ventures Corp. has received a Letter of Intent from BHAVNANI CORPORATION www.bhavnanicorp.es. The parties are currently evaluating the opportunities offered by the Cuban market to redact a Definitive Agreement, following the upcoming visit by main BHAVNANI executives to Cuba, scheduled for 24-29 Sept 2017. This agreement will be oriented towards the commercialization of the different technological solutions offered by the companies of BHAVNANI CORP. to companies in key Cuban commercial sectors, highlighting tourism and logistics.
Consulting & Fintech Divisions - Cuba Ventures Corp. CEO Steve Marshall and Director Alfredo Manresa have concluded a 3 week commercial mission to Europe. Notable meetings included; prominent hotel management groups, banking technology companies, key block chain operators, electronic wallet payment providers and, banking technology companies. Upcoming news will be released pertaining to the companies advances in each sector, specifically geared towards its CubaFIN division and nascent Cuban hospitality consulting division. The company’s CEO and Director also met with the founders of EnjoySea.com and Booketea to finalize an upcoming definitive agreement with both companies following the signed MOU last month.
New advisor joins the team in preparation for the planned Al-Fahim Fintech definitive agreement
Daniel (Danny) Hernandez Rodriguez – Danny is considered a key asset to the Advisory board for the upcoming CubaFIN division. A banking technology expert specifically focused upon electronic banking and, front and back office security applications, Danny’s prolific career allowed him to offer his banking security technology and expertise to major Spanish banks: La Caixa (Spain’s 3rd largest bank) CajaCanarias, Banca Civica, Sa Nostra, CCM, Caja Murcia and Infocaja. Danny’s impressive academic resume includes; MBA, IT CGeiT (Certified in the Governance of Enterprises), CIA (Certified Internal Auditor), UNED (Postgraduate in financial auditing), Graduate of Business Administration (Fachhochshule Kiel). Danny will advise the company on the creation of www.CubaFinTech.com, as a secure lending platform employing the latest banking technologies and assuring its compliance to international banking protocols. Additionally, the company intends to deploy an electronic block chain payment mechanism for internal users in Cuba.
Upcoming management trip to Dubai and Shanghai
Cuba Ventures Corp. CEO Steve Marshall and Director Alfredo Manresa plan to visit China and Dubai in the month of October. Meetings planned include a second encounter with senior management of Alibaba (China) and with Al-Fahim management (UAE).
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, 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. Travelucion’s revenues have been rapidly growing in the wake of the notable shift in American policy towards Cuba. With diplomatic relations improving and restrictions on qualified American travel to Cuba relaxed, the opening of the multi-billion dollar travel market to the Caribbean nation is becoming a reality. Travelucion's continued media dominance over the past two decades has provided Cuba Ventures with a competitive advantage in the burgeoning Cuba travel and online media space. With the relaxing of rules for American travelers to Cuba and the potential of further easing, growth, and investment opportunities are on the rise in Cuba.
Cuba Ventures consulting division harnesses over 60 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 comercial 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 partnerships.
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
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.