WILMINGTON, DE, United States, via ETELIGIS INC., 05/11/2015 – – Cabo Verde Capital Inc. (the "Company") (OTC Pink: CAPV) (PINKSHEETS: CAPV), is very pleased to announce that it has come to an agreement in principle for the acquisition of a hotel project and land site in the Republic of Cabo Verde on the island of Santo Antao. The site is over 60,000 sq.m. Definitive documentation is expected to be signed in the next few days.
In addition, the Company has received approval of bank financing for the project from Caixa Economic Bank for phase one of the project including construction of a 32 room eco-hotel.
Appointment of New Director and CEO
The Company is also pleased to announce the appointment of Brian Stevendale as Director and Chief Executive Officer. Brian comes with a highly successful track record in tourism, hospitality and property development. Over the last two years, as CEO of a division of a private European company, with groups assets of over USD$1 billion, he led the successful development of concurrent projects, being the opening of a four star hotel in London and a five star hotel, including a casino in Gibraltar, the hotels had a combined cost of $200 million. In his previous role as Group Director of a private firm, he was overall responsible for the commercial success of transforming two redundant marinas into a combined 21st century mixed resort development of 525 apartments, 150,000 sq. ft. of commercial space including office, retail and a casino in the first phase, as well as the reconfiguration of the marina to hold super-yachts. He left having secured the full leasing and sales of these $400 million projects for the private owners. He concurrently led a team buying distressed stock in the USA and created distribution sales platforms globally with a focus on China and Europe for disposing of these substantive assets for the same group of companies.
THIS WAS ANNOUNCED TODAY IN CABO VERDE IN THE PRESENCE OF AMBASSADOR HEFLIN, US AMBASSADOR TO CABO VERDE , PRIME MINISTER CABO VERDE JOSE MARIA NEVES, MINISTER TOURISM AND ECONOMY DR. LEONESA FORTES, MAYOR OF PAUL ANTONIO ALEIXO MARTINS AND THE PRESIDENT OF CABO VERDE INVESTMENTS MR JOSE DUARTE.
Resignation of Director
The Company wishes to announce that Pedro Teixeira has resigned as Director and Chief Financial Officer in order to pursue other opportunities. Mr. Teixeira’s departure is not related to any issues regarding financial disclosures, accounting or legal matters. "We appreciate Pedro’s contribution and wish him all the best in his future endeavours," said John Duggan, president and director of Cabo Verde. Mr. Duggan will serve as the interim Chief Financial Officer until the Company retains a new CFO.
Closing of the acquisitions described herein remains subject to the terms and conditions contained in the anticipated definitive agreements and may require regulatory or shareholder approvals.
About Cabo Verde Capital Inc.
Cabo Verde Capital’s activities are based on three main pillars: Real Estate, Hospitality and Casino development and the exploitation of these three segments.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. For more information please contact Corporate Relations at info.
John Duggan, President
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS," AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH REAL ESTATE DEVELOPMENT AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL AND QUARTERLY REPORTS FILED AND PUBLISHED ON WWW.OTCMARKETS.COM, RESPECTIVELY, AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY”S ABILITY AND LEVEL OF SUPPORT FOR ITS DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY”S EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE.
INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED AND PUBLISHED FROM TIME-TO-TIME ON WWW.OTCMARKETS.COM. THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NO SECURITIES REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALLTHERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
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SOURCE: Cabo Verde Capital Inc.