Fort Lauderdale, FL, December 14, 2015 --(PR.com
)-- Santo Mining Corporation also known as Cathay Lifestyle Group Inc., (OTC PINK: SANP), (the "Company"), announced the signing of a letter of intent to purchase a controlling interest in a tobacco company in the Dominican Republic, Tabacalera Café Fuerte SRL. Additional revenue opportunities with this facility include the capability to broker and export bulk high-grade tobacco as well as the manufacturing of private label premium luxury cigars that would bear the Cathay brand name “1421” in honored of China’s great armada lead by Admiral Zheng He, the year China discovered America.
Tabacalera Café Fuerte is based in Villa Gonzalez in the province of Santiago in the Dominican Republic; they are a specialty tobacco manufacturer and producer with licenses to farm, process, cure, and export bulk tobacco. The Villa Gonzalez tobacco region in Dominican Republic is what the Vuelta Abajo region is to Cuba when it comes to high grade tobacco growing. Its tropical microclimate and the rich terrain makes it ideal for the growth of Cuban Seed tobacco, which is a highly desirable commodity around the world.
CEO Franjose Yglesias commented: “This announcement today demonstrates another piece of the broader plan being put into place. China is the largest importer of tobacco in the world and according to the Observatory of Economic Complexity China imported over $1.3 Billion dollars of bulk tobacco in 2013. The acquisition of a profitable and operational tobacco farm allows us to accelerate our growth plans and immediately puts us in a position to participate in any governmental Request for Proposal (RFP) for Dominican high-grade bulk tobacco and tap into the $1.3 Billion dollar bulk tobacco import market.”
The company expects to close on the Dominican tobacco deal towards the mid to end of the first quarter of 2016, as it also evaluates additional acquisitions in other tobacco-regional countries.
Cathay Lifestyle Group Inc., we are a lifestyle brand integration, marketing, design, development, education and consultant for high value sales channel of luxury lifestyle products in the leisure and entertainment sector. We have a diverse portfolio of licensed brands as well as a wide range of product categories. Our partners include, membership clubs, golf clubs, financial services groups, nightclubs, restaurants, lounges, sports bars, KTV’s, Duty Free Stores, e-commerce channels and direct to consumers B2C across Asia. Our services embody the interests, attitudes, and opinions of an elite group of consumers that embrace a particular culture. Our Lifestyle brands seek to inspire, guide, and motivate people, with the goal of our products contributing to the definition of the consumer's way of life. We operate off the ideology that we must attract and connect people and brands to ultimately spur, set and create new social phenomenon’s.
Forward Looking Statement
This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.