Santo Mining Corp (OTCMKTS:SANP) shares were up 50% to $0.00030 and were flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.00. The company has a market cap of $656K at 2.19 billion shares outstanding.
Santo Mining Corp, doing business as Cathay Lifestyle Group, Inc., is 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. It has a portfolio of licensed brands, as well as a range of product categories.
The company’s partners include, membership clubs, golf clubs, financial services groups, nightclubs, restaurants, lounges, sports bars, Duty Free Stores, e-commerce channels and direct to consumers across Asia. The Company operates three subsidiaries: Cathay Cigars of Asia Corporation, Cathay Wines & Spirits of Asia and Cathay Entertainment Services of Asia. The company is engaged in delivering social media and marketing cigar and spirits events solutions in Asia.
In a press release, Santo Mining Corp announced a corporate update and plan for growth and its aggressive approach for rapid expansion into a new market. For one, it has een working over the past 8 month months distributing cigars in china including cigar education at the Beijing University of Hospitality and has been working to prepare all its books and records, accounting and files to engage a PCAOB auditors to become fully reporting in the immediate future.
As for its plans for growth, it stated that it has had a few enormous opportunities present themselves in regards to new joint ventures, mergers and acquisitions so it has been in active talks and negotiations in regards to a joint venture to enter into these new rapid growth markets in order to help immediately expand the company.
“The company has been actively pursuing multiple avenues and channels in order to increase its valuation, market capitalization and shareholder value. We plan on remaining transparent moving forward in regards to more and consistent market updates for our shareholders,” it added. It also shared that Santo Mining Corp has been approached by a private company in one of the hottest sectors in the public markets that wishes to go public though
“We are very excited about the new opportunities that have develop over the past month and we see the future very beneficial for all our shareholders and investors,” commented CMO Matthew Arnett. “We will be working rapidly to get all our records in order to be audited; we will be updating the investor community via our twitter account as we make progress in this phase,” added CEO Franjose Yglesias.