Santo Mining Provides a Operations and Corporate Update
October 11 2016 - 10:30AM
InvestorsHub NewsWire
Hialeah Gardens, FL -- October 11, 2016 -- InvestorsHub NewsWire
-- Santo Mining Corporation also known as Cathay Lifestyle Co.,
(OTCPINK:SANP),
(the "Company"), provides today a corporate and project update; in
preparation for rapid growth and potential acquisitions.
OPERATIONS UPDATE
The company has signed a strategical logistical agreement with
RTNT, LLC of Mongolia. RTNT is a licensed tobacco import by
the Mongolian Government, RTNT also runs and operates Habanos Wine
and Cigar Lounge in the capital of Mongolia, Ulaanbaatar
www.habanos.mn. Under this agreement RTNT will import and
warehouse cigars and tobacco products in Mongolia for the
company.
RTNT Owner Mr. Nasankhuu Tumurdush stated “This strategic
logistical trade agreement with Golden Tobacco Co., will once and
for all consolidate the global cigar brands under one umbrella in
Asia. RTNT will warehouse the largest selection of cigar
brands for the Asian market. With the marketing support
provided by Golden Tobacco, we estimate a market penetration of
(0.1%) of the $6 Billion USD cigar Asian market.”
The company has also signed an internet operations and distribution
management agreement with Boundless Natural Mongolia, LLC.
Under this agreement BNM will run and operate the Asian
e-commerce B2C cigar site. Currently BNM and BT Solution, LLC
the technology development company are 70% completed in the
development and launch of Asia’s largest e-commerce website of
luxury cigars via its domains www.cigar.mn and www.cigars.mn.
Collectively the Asian cigar market is worth over $6 Billion
dollars, the key consumers in this market are China, South Korea,
Japan, Taiwan, Singapore, Hong Kong and Macau.
Owner of BNM Mrs. Odbayar Sambuu stated, “Our goal is a two prong
approach; one to roll out the English version of e-commerce website
in the next 30 days and immediately start working on a
multi-language multi-currency e-commerce site, the languages will
include Chinese, Korean, Japanese and international English, with
the correspondent currencies RMB, KRW, JPY, TDW, USD and EUR.
The second is to provide the best customer service to our
cigar clients throughout Asia.”
CORPORATE UPDATE
The Board of Directors of SNAP are finalizing the registration of a
General Form for Registration of Securities Pursuant to Section
12(b) or (g) of the Securities Exchange Act of 1934 known as a
FORM10. This corporate filling including the previous amended
10-K’s and 10-Q’s, are designed to once and for all clean up the
companies’ previous filling errors done by the company’s former
management and former board of directors. The Form 10 filling
includes important information on the plan to distribute shares of
“Golden Tobacco Co., the surviving legal entity following the
majority shareholders and board of directors’ vote of approval for
the merger with Cubanacan Cigars S. A. also known as Cubanacan,
including an overview of the business, reportable segments and
historical financial results for fiscal years 2014, 2015 and the
first quarter 2016 ended Oct 31, 2016. The filing will be
updated with additional information in subsequent amendments in
conjunction with the regular SEC review process. Post-distribution
capitalization of Golden Tobacco Co., has not yet been finalized.
Pro-forma financial information reflecting the company's final
capital structure and capital allocation policies, among other
matters, will be also included in subsequent amendments to the Form
10.
The company has moved its corporate offices to 13117 NW 107 AVE E-3
Hialeah Gardens, FL 33018 and has also changed its main corporate
number to 1-888-80CIGAR. The new corporate offices provide
the warehousing requirements to store over 100,000 cigars for
shipping to the Asian markets.
The Company’s CEO, Franjose Yglesias, stated, “Our focus has been
and will continue to be sales driven, this will be evident once our
Form10 is filed. We are refocusing back exclusively to cigars
and tobacco, once we go live with our e-commencer site for Asia, we
will focus on the boutique cigar market in America.”
We hope our shareholders and the market keeps on eye on SANP
because we have some new and exciting things coming near term and
look to keep the market fully updated with these news events.
Management believes transparency is first and foremost, therefore
any shareholder who has any questions; may contact management at
IR@CATHAY.ASIA, shareholders can also find information posted on
social media sites indicated below on this press release on the
contact section.
Make sure to visit and/or contact SANP online through its many
media outlets:
Website: www.cathay.asia
Email: info@cathay.asia
Facebook: http://www.facebook.com/cathaycigars
Twitter: http://www.twitter.com/cathayinvestors
http://www.scoop.it/t/cigars-by-cathaycigars
About SANP: 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.
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