Fuego Enterprises, Inc. signs an MOU to acquire control of The
Americas Group Cuba Business Enterprise (TAGCBE)
MIAMI LAKES, Fla., Jan. 31, 2013 /PRNewswire/ -- The Americas Group
Cuba Business Enterprise (TAGCBE), a company focused on providing
strategic advice to individuals and companies interested in doing
business with Cuba and /or
investing in Cuba as regulations
permit, has announced the signing of a Memorandum of Understanding
(MOU) to sell control of TAGCBE to Cuba Business Development Group
Inc. (CBDG) in exchange for shares in its parent Company, Fuego
Enterprises, Inc. (OTCPINK: FUGI).
TAGCBE is a division of The Americas Group (
www.theamericasgroup.net ) which has extensive relationships with
foreign companies currently doing business in Cuba through its 40 years presence in
Latin America and in additional
developing markets. Cuba is one of
the great remaining "last frontiers" in the Western Hemisphere
which presents enormous opportunities for U.S. business interests
due in part to its size, diverse and beautiful environment and,
most significantly, its geographic proximity to the mainland
United States.
TAGCBE believes it is timely and important for U.S. Companies to
seriously begin monitoring the prospects and environment for doing
business in Cuba and to begin
tracking the Cuban market and policies, so they are prepared to
make a move when the regulations permit. Towards that end we have
assembled a group of synergistic investor partners with expertise
and skills in a broad variety of sectors.
Howard Glicken, Chairman of the
Board of TAGCBE and The Americas Group said, "CBDG and Fuego will
provide an exceptionally well connected presence in Cuba through 20 years of experience in
doing business with Cuba which
will offer TAGCBE the in country management experience we
have been seeking to execute our mission. We are very pleased to be
working with such a high quality group."
CBDG, ( www.cbdg.co) a fully owned subsidiary of Fuego
Enterprises, Inc. (FUGI), provides strategic and business solutions
for opportunities in Cuba and the
Caribbean basin markets. The
company currently owns and/or manages or is an associate in a
number of separate business segments with direct relationships in
Cuba. The company currently
provides strategic consulting services to businesses with an
interest in the Cuban market in the delivery of international
products, services and technologies into in a number
of segments such as telecommunications, gift parcels and
cargo transportation to and from Cuba. The company through its media group is
committed to support all group-related products and services.
Fuego Enterprises, Inc. is a diversified holdings company with
operations in media and entertainment. Fuego specializes in the
production, promotion and distribution of Cuban media entertainment
services with cultural relevance within the United
States and the world, Fuego, also publishes OnCuba,
the first Cuba focus monthly
bi-lingual magazine publication with national distribution in
the US. OnCuba in both print and electronically formats
(www.oncubamagazine.com). is distributed in over 59 Barnes &
Noble stores throughout the United
States it is also the official and exclusive inflight
magazine for almost all flights from the US to Cuba.
CBDG, through its subsidiaries Mobile Activation Services
(http://www.mascell.com) and Universal Network Operations Cargo
(UNOcargo) owns licenses granted by the U.S. Department of Commerce
and the Office of Foreign Assets Control (OFAC) to conduct certain
international trade, free of certain restrictions under U.S. laws
prohibiting financial dealings with Cuba. Consistent with the U.S. guidelines of
the Trade Sanctions Reforms and Export Enhancement Act, CBDG
intends to operate a number of Cuban business initiatives pursuant
to these license agreements. CBDG also intends to assist
other U.S. businesses export their products and services to
Cuba.
Hugo Cancio, Founder, Chairman
and CEO of Fuego Enterprises and CBDG will become Chairman and CEO
of The Americas Group Cuba Business Enterprise (TAGCBE). Cancio
said, "This acquisition fully fits with our strategy to drive
growth in key areas and markets where we are able to fully leverage
our unique expertise, capitalize on years of experience and solid
relationships, and deliver shareholder value with stronger and more
stable growth. We are very excited about our association with the
prestigious Americas Group."
Safe Harbor Statement
This press release contains statements, which may constitute
forward-looking statements within the meaning of the Securities Act
of 1933 and the Securities Exchange Act of 1934, as amended by the
Private Securities Litigation Reform Act of 1995. Those statements
include statements regarding the intent, belief or current
expectations of Fuego Enterprises, Inc., members of their
management, and assumptions on which such statements are
based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements.
CONTACT
Investor Contact:
Fuego Enterprises,
Inc.
Hugo Cancio,
President
15476 NW 77th Ct., Suite
105
Miami Lakes, FL
(305) 823-9193
SOURCE Fuego Enterprises, Inc.