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Suite 1610 – 777 Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4
www.cubaventures.com
TSX Venture Exchange Symbol: CUV
Email: [email protected]
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
NEWS RELEASE
March 29, 2016
Cuba Ventures Discusses Significance of U.S. President Obama’s
Visit to Cuba
Vancouver, BC – Cuba Ventures Corp. (TSX-V: CUV) (OTCBB: MPSFF) (Frankfurt:
IJA2) (the “Company”) (formerly MPH Ventures Corp.) is pleased to update its
shareholders on the significance of the recent visit to Cuba by U.S. President Obama.
Cuba Ventures Corp., through its subsidiary Travelucion Media, is an online travel and
digital media marketing company that specializes in travel marketing, electronic
reservations and online booking solutions for international visitors to Cuba.
Last week, President Barack Obama became the first sitting U.S. President in almost
90 years to visit Cuba marking a historic moment for both countries as they work
towards normalizing relations. There is still the overriding U.S. trade embargo the U.S.
has placed on Cuba, which prohibits the vast majority of American corporations from
doing business in or with Cuba. There are a select few American corporations that
have obtained special licenses that allow them to operate in Cuba but, in our view,
these are more symbolic in nature and illustrate the momentum building for the trade
embargo to likely be lifted by the U.S. Congress. There is a unique window of
opportunity for Cuba Ventures in that there is minimal competition from American
companies due to the U.S. trade embargo yet, travel restrictions on Americans going
to Cuba are dissipating, opening up a multi-billion dollar market servicing these
travelers.
Along with U.S. President Obama, a number of U.S. companies visited Cuba as the
first of a handful of American companies now allowed to operate in Cuba in over 50
years. U.S. President Obama has been instrumental in initiating closer links between
select American companies and Cuba, and some of these recent developments
complement Travelucion Media’s rapidly growing business in Cuba. Travelucion
welcomes the rebranding of Hotel Inglaterra, Hotel Quinta Avenida and Hotel Santa
Isabel which will now be operated by Starwood Hotels & Resorts Worldwide. All three
hotels continue to be available, as they have been for many years, through
Travelucion’s proprietary Cuba Hotel booking platform and will be rebranded on the
company’s network of 432 Cuban related websites in the coming weeks.
The rollout by the internet giant Google of WiFi across Cuba will further allow
Travelucion Media to deal more closely with its self-employed Cuban service providers
across the Caribbean nation. Another exciting aspect of this is the proposal by the
company of allowing privately owned Paladar Restaurants to feature on Travelucion’s
upcoming revamped Cuba-Restaurants.com website, incorporating direct table
bookings with the private restaurant owners through both a Smartphone App or
directly online. Communication between Travelucion’s booking platforms and Cuban
private business owners such as B&B’s, Paladar Restaurants and Classic Cars rentals
and the company’s booking platform, which receives +30 million annual page views,
has always been a major obstacle impeding a rollout of such direct booking programs.
Google’s entrance into Cuba, with its planned WiFi deployment, will ensure a rapid
introduction of these convenient booking services which empower both Cuban
entrepreneurs and tourists alike. The company also hopes to extend this direct
booking service to include the self-employed owners of Cuba’s now famous Classic
American Cars, essentially allowing visitors to book these vehicles, both ahead of time
and while in Cuba, much similar to services offered by Uber. Travelucion Media
already has the essential internet traffic to make such programs viable with U.S based
visitors up from 11% in 2014 to almost 34% in 2016 of all online visitors to
Travelucion’s 432 Cuba centric websites.
Jim Pettit, President and CEO stated, “These incremental changes that are spurred on
by the warming in the U.S.A. – Cuba relations may seem token but are targeted at
specific sectors of the Cuban economy that have the best and most immediate
opportunities for growth. That is the already robust tourism industry and the aspects
of this industry that rely on the entrepreneurial skills of the Cuban people. Private
residences, B&B’s, Paladar Restaurants and Classic Car rentals are already active
and growing components of Travelucion Media’s business in Cuba. We look forward
to continuing growth in these sectors that allow the Cuban people to experience
entrepreneurship.”
Channel 7 (New York) Tiempo discussing Cuba Ventures & Travelucion:
http://abc7ny.com/uncategorized/tiempo-watch-this-weeks-show/31525/
About Cuba Ventures Corp.:
Cuba Ventures Corp. has acquired Travelucion Media, now a wholly owned
subsidiary. Travelucion Media is an 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 in up to 5 languages, which
collectively generate over 30 million page-views per year and direct traffic to the main
Travelucion booking site www.Havanatur.com .
For further information on Cuba Ventures Corp. (TSX-V: CUV) or Travelucion Media
visit the Company’s website at www.cubaventures.com or www.travelucion.com.
Cuba Ventures Corp. has approx. 61.5 million shares issued and outstanding.
CUBA VENTURES CORP.
« Jim Pettit »
______________________________
JAMES G. PETTIT
President & CEO
For further information contact myself or:
Don Myers
Cuba Ventures Corp.
Director
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]
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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 forwardlooking 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.