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VANCOUVER, BC --(Marketwired - March 22, 2016) - Cuba Ventures Corp. (TSX VENTURE: CUV) (the "Company") (formerly MPH Ventures Corp.) is pleased to announce that Mr. Alfredo Manresa Ruiz and Mr. Walfrido Sebastian Quiñones Bencomo have agreed to join the Company's Cuba Investment Advisory Board. These two advisors bring over 50 years of combined experience working in Cuba and will work with management to expand the Company's current online travel and marketing business, Travelucion Media, as well as evaluate other business opportunities going forward in Cuba.
Alfredo Manresa Ruiz is a Spanish national and seasoned banking professional and manager. Alfredo worked for Spain's CAM Bank (now Sabadell) between 1989 -- 2012 in varied high level positions, including branch and regional management positions in Europe and Latin America. Alfredo was the founding manager of CAM Bank in Havana, Cuba. During his tenure as Regional Bank Director in Havana, Alfredo handled over 80 million Euros annually in loans and investment and was certified for financial operations by the National Bank of Cuba. Alfredo's extensive knowledge of the Cuban banking and financial system brings an important addition to Cuba Ventures' advisory team. Under the helm of Alfredo, the Havana branch he managed earned the award of best CAM Bank International Branch in 2003, 2004 and 2005, surpassing notable national branches in Miami, London, Paris and Mexico. Fluent in Spanish and English, in addition to an accomplished career in the corporate and private banking world, Alfredo will be a strong advisory asset for upcoming financial dealings and investments in Cuba, employing his knowledge and experience of the inner workings of Cuba's financial system and banking regulations.
Walfrido Sebastian Quiñones Bencomo is a Cuban citizen and licensed Cuban attorney who graduated with honors from the University of Moscow, Russia. Walfrido was the corporate legal counsel for Steve Marshall, President of Travelucion Media now a wholly owned subsidiary of Cuba Ventures, throughout Steve's 11 years in Cuba. Together they obtained government approvals for countless businesses in Cuba, including joint production agreements, joint ventures and national representation of foreign entities. The extensive commercial sectors in which they were involved included: real estate, hotel development, Cuba travel, parks and golf course projects, information technology, Havana Free Zone establishment and operations, import/export and many more. Walfrido is a permanent resident of both Cuba and Mexico. Walfrido's membership in the Cuban Bar Association as a practicing attorney, allied to his extensive knowledge in brokering investments with the Cuban government, makes him a key figure on the Advisory Board at Cuba Ventures.
The Board of Directors of Cuba Ventures Corp is pleased to welcome these two esteemed Cuban businessmen to the advisory board. Jim Pettit, President and CEO, stated: "We are very fortunate to have these gentlemen join the Cuba Ventures team as we grow our wholly owned sub, Travelucion Media, in Cuba's burgeoning tourism industry. They are both very knowledgeable and experienced concerning the idiosyncrasies of dealing with the Cuban Government and Cuba's foreign investment laws, and give the Cuba Ventures a competitive advantage going forward with their well establish networks in Cuba. As a public company, with a focus on offering direct investment exposure to Cuba, we feel the addition of Mr. Ruiz and Mr. Bencomo will prove to be invaluable as the Company grows and looks for other potential opportunities on the island."
About Cuba Ventures Corp.:
Cuba Ventures Corp. has acquired Travelucion S.L., now a wholly owned subsidiary. Travelucion Media is a cash-flow positive online travel digital media company that specializes in travel marketing, electronic reservations and online booking solutions for international visitors to Cuba. Travelucion Media owns one of the most significant portfolios of Cuban focused web assets, through 432 sites, which collectively generate over 30 million page-views per year and direct traffic to the main Travelucion booking site www.Havanatur.com.
Cuba Ventures Corp. has approx. 61.5 million shares issued and outstanding.
CUBA VENTURES CORP.,
JAMES G. PETTIT, President & 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.