Santo Mining Announces $500,000 USD Retail Order from the Duty Free Shop for Diplomatic Mission
/EINPresswire.com/ -- BEIJING, CHINA--(Marketwired - Oct 19, 2016) - Santo Mining Corporation also known as Cathay Lifestyle Co., (
CMO Mr. Matthew Arnett commented: "Chinese New Year is one of our best seasons for cigar sales. Gift giving is culturally ingrained in the Chinese lifestyle; our cigars and the design will focus on this important event."
Figures from the Chinese Ministry of Commerce show that, from New Year's Eve to the sixth day of the Chinese New Year (7-13 February 2016), the total takings of retail, online sales and catering enterprises nationwide was more than Rmb754 billion over $110 billion USD, up 11.2% from previous year.
Mr. Yglesias, CEO, stated: "We are aggressively moving forward with our online cigar store for the Asian market hosted in Ulaanbaatar Mongolia. Our online store will have over 3,000 cigars for sale; we expect the online store front to be online by mid-November."
ABOUT DUTY FREE SHOP for DIPLOMATIC MISSION
Beijing Duty Free Shop for Diplomatic Missions was established in 1985. It is a specialized shopping center for diplomatic missions and their diplomatic personnel who are entitled to enjoy tax exemption treatment. The aim of the shop is to build a shopping paradise for the foreign diplomatic community in Beijing with excellent service through the efforts of our staff.
On October 11th, 2016 the company updated its shareholders with its operations and corporate update, below the company outlines the past update.
The company has signed a strategic 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.
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.
The Board of Directors of SANP 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.
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 outlet:
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 phenomenons.
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.
Santo Mining Corporation