MPH Ventures to Change Name to Cuba Ventures Corp., Announces Proposed Change of Business, Planned Financing

VANCOUVER, British Columbia, Feb. 01, 2016 (GLOBE NEWSWIRE) -- MPH Ventures Corp. (TSX-V:MPS) (OTCBB:MPSFF) (Frankfurt:IJA2) (the "Company") is pleased to announce a proposed Change of Business ("COB") which, subject to regulatory acceptance, will see the Company transition from a Resource Issuer to a Technology Issuer.

MPH Ventures Corp. is a Tier 2 TSX Venture listed company formed under the laws of the Province of British Columbia, its primary focus has been the exploration and development of mineral exploration properties located in northwestern Ontario.

MPH Ventures' new business will commence through the acquisition of the remaining 80% interest in Travelucion S.L. ("Travelucion"), from Steve Marshall, a Canary Island resident and principal operator of Travelucion.  Travelucion is a privately owned limited liability company formed under the laws of the Canary Islands, Spain.

Travelucion is an online travel and digital marketing company that specializes in travel marketing, electronic reservations and online booking solutions for international visitors to Cuba.

The COB will be accomplished through:

• the acquisition of the remaining 80% interest in Travelucion S.L. not currently owned ("The Acquisition")
• the assembly of an experienced team of management professionals ("The Team")
• a name change to Cuba Ventures Corp. to reflect the new business ("Name Change")

The Acquisition

On July 8, 2015, MPH Ventures announced it had signed a Definitive Agreement with Steve Marshall, the shareholder of Travelucion S.L. pursuant to which the Company would acquire 20% of the shares of Travelucion S.L. in exchange for 4,000,000 common shares of MPH Ventures and CAN$100,000 in cash with an option, for a period of eight months, to acquire the remaining 80% of the shares of Travelucion S.L. by the issuance of a further 16,000,000 common shares of MPH Ventures.

On negotiation of the acquisition, Steve Marshall was arm's length to the Company and its directors, officers and insiders.

On October 20, 2015, the Company completed the acquisition of a 20% interest in Travelucion S.L. by the issuance of 4,000,000 common shares of MPH Ventures at a deemed price of $0.05 per share and the payment of CAD $100,000 to Steve Marshall, the selling shareholder of Travelucion S.L..