FT LAUDERDALE, FL / CRWEPRESSRELEASE / September 8, 2015 /Santo Mining Corporation (OTCMKTS:SANP), (the “Company”), has redomiciled from the State of Nevada to the State of Florida. This redomicile of the company from Nevada to Florida is one of many changes to come in the reorganization of the company and the strategy to reduce corporate expenses. This redomiciling process will save the company 60% in corporate State filing fees.
The Company is aggressively evaluating how to reduce corporate, professional and administrative expenses by 60%, and at the same time bring profitability via sales to the company.
Franjose Yglesias, CEO of SANP and Cathay Cigars of Asia commented, “We are so strongly committed to this effort, that all corporate directors including myself will not accrued any back salaries, and all directors have and will sign an employment agreement that states they will earn no more than a yearly salary of $1USD and 15% sales commission.” Additionally, Mr. Yglesias stated, “The years of non-revenue of SANP and empty promises of pay dirt stop here, our goal is to reduce cost by 60% to 70% and post revenues for the first time in the history of the company. ”
About Cathay Cigars of Asia
Cathay Cigars of Asia (http://www.cathaycigars.com/), is the first and only one-stop online cigar distributor in Asia, we offer all major cigar brands such as Arturo Fuente, Macanudo, Romeo y Julieta, Rocky Patel, Oliva, CAO, Graycliff, Drew Estate, Diesel, Alec Bradley, Cohiba, Gurkha and much much more. The company has developed a Chinese social media brand awareness marketing program for cigar manufactures with access to over 5 million cigar aficionados in China. We also own and operate (http://www.cigars.cn.com/) which will be a Chinese cigar education, marketing and virtual cigar humidor for cigar lovers alike. Sales are generated via social media and cigar events promoting sales on our online multi-lingual/multi-currency ecommerce platform (http://www.mrcigar.asia/).
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.
SOURCE: Santo Mining Corporation