MPH Ventures Closes First Tranche of Non-Brokered Private Placement
06 October 2015 - 5:24AM
MPH Ventures Corp. (TSX-V:MPS)
(OTCBB:MPSFF) (Frankfurt:IJA2) (the "Company") is pleased to
announce, further to its news release of August 14th, the Company
has closed the first tranche of its non-brokered private placement
financing and has raised $402,800.00 by the issuance of 8,056,000
Units (the "Units") at a deemed price of $0.05 per Unit. Each Unit
consists of one common share and one non-transferable share
purchase warrant (the "Warrant"). Each Warrant entitles the holder
to purchase one additional common share at a price of $0.075 per
share for a period of five years expiring October 5, 2020. Shares
issued in connection with this private placement including any
shares issued as a result of the exercise of any Warrants will be
subject to a four month hold period expiring February 6, 2016.
Aggregate finder's fees of $15,891.40 cash and 226,100 agent
warrants ("Agent Warrants") have been paid in connection with this
offering. The Agent Warrants are subject to the same terms and
conditions as the subscriber Warrants. Jim Pettit and Don Huston,
insiders of the Company, purchased 300,000 and 60,000 Units
respectively and pro groups purchased 1,400,000 Units of the
private placement.
The proceeds will be used to complete MPH Ventures' previously
announced acquisition of a 20% interest in Travelucion, an online
travel digital media company servicing international visitors to
Cuba (see July 8th & August 14th news releases), as well as for
general working capital purposes.
The private placement is subject to TSX Venture Exchange
acceptance.
MPH Ventures has signed a Definitive Agreement with the
shareholders of Travelucion S.L. pursuant to which the Company
shall acquire a 20% interest in Travelucion S.L. in exchange for
common shares of MPH Ventures and $100,000 in cash with an option
to acquire the remaining 80% interest. The Definitive Agreement is
subject to TSX Venture Exchange approval.
Travelucion is a cash-flow positive online travel digital media
company that specializes in travel marketing, electronic
reservation and online booking solutions for international visitors
to Cuba. It owns one of the most significant portfolios of Cuba
focused web properties and domains that have been promoting Cuba
and offering online travel services to the Caribbean nation since
1995. Recently, Travelucion's revenues have been increasing in the
wake of the notable shift in American policy towards Cuba as
diplomatic relations between the two nations normalize and with
travel restrictions on Americans visiting Cuba expected to
gradually relax. Online booking is one of the fastest growing
sectors in the travel industry and Travelucion is poised to take
advantage of this rapid growth.
Travelucion owns 100% of 432 web assets popularizing Cuban
Culture, Music, Celebrities, over sixty major tourist destinations,
Golf, Banking and Commerce which collectively generate over 30
million page-views per year. Through legacy agreements with Cuba's
largest travel companies, Travelucion's emblematic e-commerce
brands like Havanatur.com, Cuba VIP and GoCuba provide the company
with access to a broader and more diverse portfolio of national
travel and tourism packages in Cuba than any other travel provider.
Travelucion is also uniquely established to handle the travel
requirements of qualified U.S. travelers to Cuba. This allows
permitted U.S. travelers, in addition to non-U.S. travelers, the
ability to indulge in high end hotel and spa accommodations or
create uniquely Cuban travel packages with exclusive private home
rentals, exotic/antique car services and access to a multitude of
exhilarating guided or self-discovery tours across Cuba.
Travelucion has also developed a strong social media platform of
passionate Cuba social media followers across Facebook, Twitter,
Pinterest and Instagram.
MPH Ventures and Travelucion will continue to expand the
existing travel and Cuba focused marketing initiatives in numerous
sectors with a specific spotlight on the emerging U.S.-Cuba travel
market.
About MPH Ventures Corp.:
MPH Ventures Corp. has approx. 22.1 million shares issued and
outstanding.
MPH-Travelucion Presentation:
http://www.mphventurescorp.com/i/pdf/MPS_PPT.pdf
For further information on MPH Ventures Corp. (TSX-V:MPS) visit
the Company's website at www.mphventurescorp.com .
MPH VENTURES CORP.
"Jim Pettit"
JAMES G. PETTIT President & CEO
For further information contact myself or: Don Myers MPH
Ventures Corp. Director Telephone: 604-687-3376 Toll Free:
800-567-8181 Facsimile: 604-687-3119 Email:
info@mphventurescorp.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.
CONTACT: Email: info@mphventurescorp.com
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
MPH Ventures Corp. (TSXV:MPS)
Historical Stock Chart
From May 2024 to Jun 2024
MPH Ventures Corp. (TSXV:MPS)
Historical Stock Chart
From Jun 2023 to Jun 2024