NEW YORK, NEW YORK -- (Marketwired) -- 04/29/13 -- Sino Cement, Inc., (OTC PINK: OCEE) Mr. Marco Garduno, Director, is pleased to announce that the company has executed a Letter of Intent to purchase 70% of a Costa Rica company whose business is the acquisition of Resorts, Hotels and Casinos in connection with its International Online Gaming operations headquartered in Central America (www.macaulivegaming.com.)
Macau Live Gaming, S.A., ("Macau"), San Jose, Costa Rica, is engaged in providing internet casino services exclusively to non-Americans in Asia, the Pacific Rim, India, Philippines, Australia, Latin America and Europe. In connection with its business, Macau is negotiating for the acquisition of a Five Star Resort in Costa Rica, on five acres of prime suburban property which is intended to be the designated host site of International Poker and Black Jack Tournaments. In addition to its restaurant and bar, a Spa is located on the premises, serving an international clientele. Macau is also in advanced negotiations to acquire additional Costa Rica Hotels and Casinos, and has a strategic plan to market Online Gaming products and services to Flag Based International Hotels.
The President of Macau, Jenny Sheleby Sanchez, of Costa Rica, commented: "Our company is pleased to have entered into the Letter of Intent Agreement with such a respected company as Sino Cement, Inc., which is already in the business of acquiring real estate properties, and this proposed acquisition is anticipated to bring new revenue streams and geographical diversity to them as well." Macau has recruited prominent international financial, gaming and online professionals on its Board.
The Letter of Intent anticipates the purchase of 70% of Macau Live Gaming in exchange for $ 6,000,000 in convertible preferred shares of OCEE. The parties are working closely together to complete the due diligence process and finalize terms in order to consummate a Definitive Purchase Agreement. Shareholders will be kept advised on the progress.
FORWARD LOOKING STATEMENTS DISCLAIMER: Certain statements in this document may contain "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation. Such forward-looking statements or information include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. The Company does not assume the obligation to update any forward-looking statement, except as required by applicable law.
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Sino Cement, Inc.
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