MONTREAL, July 6, 2016 /CNW Telbec/ - Knowlton Capital Inc. ("Knowlton") (TSXV: KWC‑H.V) has previously announced a proposed reverse take-over ("RTO") with Leni Gas Cuba Limited ("LGC"), which holds, among other investments, a 10% interest in The Cuba Mountain Coffee Company Ltd ("CMC"), an English company founded in 2012 to promote, on a worldwide basis, single-origin gourmet coffee from Cuba's Guantanamo region, both as green beans and also via CMC's own bespoke coffee brand, "Alma de Cuba".
Knowlton wishes to advise its shareholders that LGC today issued the press release annexed below regarding CMC. LGC's press releases are available on its web site at www.lg-cuba.com under "Investors/Media Releases".
6 July 2016
Leni Gas Cuba Limited
("LGC" or the "Company")
Investee Company Update: Cuba Mountain Coffee – Update on Cuban coffee deal
MOU with Nestlé Nespresso and TechnoServe
London, Havana: 6 July 2016: London listed Cuban specialist investment company, Leni Gas Cuba Limited advises that The Cuba Mountain Coffee Company Ltd ("CMC"), in which the Company recently acquired a 10% interest, has today made the following media statement:
"Release: Cuba Mountain Coffee Co. Project in Guantanamo, Cuba
6th July 2016 – 0700BST
The Cuba Mountain Coffee Co (CMC) has achieved a milestone in its negotiations with the Cuban authorities and is now hopeful that its coffee project in the Cuban province of Guantanamo will begin in 2017.
A visit to Guantanamo by CMC directors in June resulted in agreement on the principal terms for co-operation with the Asdrubal Lopez coffee processing plant in Guantanamo, CMC's counter-party in Cuba. Crucial approvals have already been achieved and the project is now in its final negotiating stage before ministerial presentation, expected before January 2017.
In April 2016, CMC also signed a Memorandum of Understanding with Nestlé Nespresso with the ambition to explore how to work together with the non-profit organization, TechnoServe, to boost production and quality in some of the Guantanamo micro-regions for the benefit of Cuban farmers and the protection of their environment, subject to the approval of the Cuban authorities and compliance with applicable laws.
Release - Immediate
Comments and contact – Phillip Oppenheim
The Cuba Mountain
Coffee Company Ltd
208a Centaur Street
London SE1 7EG
On 20 June 2016, Leni Gas Cuba Limited announced that it had acquired a 10% interest in CMC with the aim of assisting CMC's efforts in boosting Cuba's coffee production and exporting this valuable premium product to the world.
CMC is an English company founded in 2012 to promote, on a worldwide basis, single-origin gourmet coffee from Cuba's famous Guantanamo Region, both as green beans and also via CMC's own bespoke coffee brand, "Alma de Cuba".
David Lenigas, The Company's Executive Chairman commented;
"This is significant news from The Cuban Mountain Coffee Company. Leni Gas Cuba is enthusiastic about this venture, designed to assist improve the Cuban coffee industry, and to be potentially working with the likes of Nestlé Nespresso and TechnoServe is a very positive development indeed."
The directors of Leni Gas Cuba Limited accept responsibility for this announcement.
For further information, please contact:
Leni Gas Cuba Limited
David Lenigas, Executive Chairman
Anthony Samaha, Finance Director
Tel: +44 (0) 20 7440 0640
Beaumont Cornish Limited- ISDX Corporate Adviser
Tel: +44 (0) 20 7628 3396
Optiva Securities Limited- Broker
Tel: +44 (0) 20 3137 1902
Notes To Editors:
Leni Gas Cuba Limited is currently listed in London and is one of the few public listed companies globally whose prime purpose is investing directly in the fast growth Cuban economy.
The Company has significant shareholdings in well established businesses operating in the Cuban travel, events, TV and film production support, Human Resources, Cultural, Import & Export and oil and gas exploration sectors.
Current Leni Gas Cuba Investments are as follows:
- 40% of Travelwelcome and inCloud9 Travel Group, a bespoke Cuban travel, events management, TV and film production assistance group.
- 15.8% of MEO Australia Limited ("MEO"), an Australian-listed Cuban oil and gas explorer which owns the large and highly prospective onshore Block 9 east of Havana. LGC is MEO's largest single shareholder.
- 15% of Petro Australis Limited, an Australian un-listed Cuban and oil and gas explorer which has certain back-in rights to 40% of MEO's Block 9 and is undertaking other oil and gas activities in Cuba.
- 50% of an imports and exports joint venture with Groombridge Trading Corporation ("GTC"), a Cuban-centric trading company
- 49% of Cuba Professionals Inc, a Cuban talent management and services company.
- 50% interest in the Rushmans Lenigas Cuba Joint Venture for sport.
- Joint venture with Commercial Funded Solar Ltd to assess the potential of installing and operate renewable energy and hybrid power solutions (solar power, energy storage and integrated power management systems) in Cuba.
- A 10% interest in The Cuba Mountain Coffee Company Ltd ("CMC"), a venture aiming to market Cuban coffee.
The press release annexed above was issued by LGC. Knowlton has not made any independent inquiries as to its accuracy or completeness and assumes no responsibility for the contents thereof.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Completion of the RTO between Knowlton and LGC is subject to a number of conditions. There can be no assurance that the RTO will be completed as proposed or at all. Investors are cautioned that, except as disclosed in Knowlton's management information circular dated June 9, 2016 prepared in connection with the RTO, any information released or received with respect to the RTO may not be accurate or complete and should not be relied upon. Trading in the securities of Knowlton should be considered highly speculative.
SOURCE Knowlton Capital
For further information: please contact: Rafi Hazan, Chief Financial Officer, Tel: (514) 839-7234