Cabo Verde Capital Inc (OTCMKTS:CAPV) is making significant progress with its business. The company recently signed an agreement to outsource the management of its beach resort in Cabo Verde. The management of the new beach resort would be handed over to a global hotel management company. Additionally, the company also made a change in its management, with the appointment of Scott Young as a director.
The beach resorts in question are located on the island of Sao Nicolau, in the Republic of Cabo Verde. The property is of great value and has a beach front. The commercial terms of the agreement have not been made public yet, since the two companies are yet to sign a definitive agreement. CAPV is well known for its business practices, which make use of de-risk and exit strategies, through lease agreements. Basically, the company has three wings: hospitality, real estate and casino.
The company’s new director, Mr. Young, has experience as an advisor to the board of directors at Globomass. The company concentrates on production of renewable energy through bio-fuels. Globomass has facilities around the world that provide clean energy to its clients. However, Mr. Young’s portfolio also extends to being a board member at OmniCyte Ltd. OmniCyte focuses on adult stem cell research, in order to treat a number of diseases. He is also the board member of Theseus, based in India. Theseus focuses on the exploration and extraction of oil and gas, amongst a number of other varying businesses, and already has around $20 billion invested in the South Asian country.
Finally, Mr. Young also has fundraising experience for a charity. Although much of Mr. Young’s experience is in the medical research sector, his financial management experience is what truly makes him the right person to lead Cabo Verde Capital in its future ventures.
Cabo Verde Capital Inc (OTCMKTS:CAPV) added a mere $0.02 to its share value, after trading 353,398 shares during the June 25 session to reach a close at $0.22.