MIAMI, March 21, 2013 /PRNewswire/ -- Hugo
Cancio, President and Chief Executive Officer of Fuego
Enterprises, Inc., (OTC Pink: FUGI) announced today that Fuego has
completed its acquisition of 51% of The Americas Group Cuba
Business Enterprise LLC (TAGCBE) in exchange for shares of
Fuego Enterprises, Inc. which are traded over the market under the
symbol: FUGI.
TAGCBE is focused on providing strategic advice to individuals
and companies interested in doing business with Cuba and/or investing in Cuba as regulations permit. TAGCBE is a
division of The Americas Group which has extensive relationships
with foreign companies currently doing business in Cuba through its 40 years presence in
Latin America.
"We're thrilled to welcome TAGCBE to the Fuego family," said
Cancio. "TAGCBE is one of the preeminent business consulting firms
in the U.S. focused on Cuba." "We
believe that The Americas Group Cuba Business Enterprise's
extensive experience and credibility and that of its parent The
Americas Group when combined with Fuego Enterprises and its wholly
owned subsidiary, Cuba Business Development Group (CBDG); will
make us the most formidable "go to" source for anyone wanting to
participate in the future opportunities in Cuba."
Howard Glicken, President of TAGCBE and Chairman
of The Americas Group said, "CBDG and Fuego will provide an
exceptionally well connected presence in Cuba through 20 years of experience in
doing business in Cuba."
"This will give TAGCBE the in country
management experience we have been seeking to execute our
goals." "We are very pleased to be working with such a high
quality group and look forward to delivering increased value
to our clients and stake holders."
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 (www.oncubamagazine.com), the first
Cuba focused monthly bi-lingual
magazine publication with national distribution in the U.S.
OnCuba is published in both print and electronic
formats and is distributed in over 59 Barnes & Nobel stores
throughout the United States. It is also
distributed in Cuba and is
the official and exclusive "in-flight" magazine for almost all
flights from the U.S. to Cuba.
CBDG, www.cbdg.co though it subsidiaries Mobile Activation
Services (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. In exchange for consulting fees, CBDG
also intends to assist other U.S. businesses export their products
and services to Cuba.
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. Ariel Machado
(305) 823-9193
SOURCE Fuego Enterprises, Inc.