Sino Cement Announces Agreement to Purchase Additional 30% of Macau Live Gaming Inc. to Create A 100% Wholly Owned Subsidiary
10 May 2013 - 4:27AM
Marketwired
Sino Cement, Inc. (OTC PINK:OCEE) Mr. Marco Garduno Chavez,
Director, announced today that the Company has entered into an
additional Agreement with Macau Live Gaming, S.A., Costa Rica, to
acquire the remaining 30% of the shares of Macau
(www.macaulivegaming.com), a development which is anticipated to
bring new revenue streams to Sino, and enhance its stated policy of
acquiring real estate properties and projects.
On April 29, Sino announced that it had entered into a Letter of
Intent to acquire 70% of Macau for $ 6,000,000.00 in Convertible
Preferred Shares of Sino. Macau is a company engaged in Online
Gaming with strategic focus clients in Asia, the Pacific Rim,
India, Australia, Europe and Latin America. As previously
announced, Macau is also engaged in identifying and purchasing
boutique hotels and Casinos in Costa Rica, and is in an advanced
stage of negotiations to acquire a Five Star Hotel property in a
San Jose, Costa Rica suburb. Macau has recently negotiated
strategic alliances with established online operators in Costa Rica
whose scope is worldwide via the Internet
Mr. John Lambert Uhl, recently named Director of Macau Live
Gaming, S.A., has confirmed the new agreement with Sino, by saying:
This merger with the public company is expected to generate a much
stronger capital base for Macau's operations. Mr. Uhl resides in
Costa Rica, but previously was an executive with Drexel Burnham
Lambert, Century City, Los Angeles, California. He holds an MBA
from the University of California.
Both companies are working diligently to complete all regulatory
and legal requirements for the proposed acquisition of Macau's
shares and the resulting merger.
For more information please contact:
macaulivegaming@gmail.com
Contacts: Sino Cement, Inc.info@sino-inc.com
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