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Saturday, December 3, 2022

What a Move on Cabo Verde Capital Inc (OTCMKTS:CAPV)

Cabo Verde Capital Inc (OTCMKTS:CAPV) has seen a spectacular rise in recent days off its $0.003 low’s to recent highs over $0.07 quickly capturing a huge shareholder base and transforming into one of the top traded stocks on the entire exchange.

CAPV was trading as high as $0.60 earlier this year before a swift drop took it to $0;003 lows before the reversal. The current run is marked by steady accumulation and bigger volume then CAPV has ever traded before.

Cabo Verde Capital Inc (OTCMKTS:CAPV) activities are based on three main pillars: Real Estate, Hospitality, and Casino development, and the exploitation of these three segments. It is a vehicle designed to acquire and promote one of the largest land banks in the archipelago of Cabo Verde. The project sites are approved for: commercial property, hotel resorts, casinos, tourist resorts including marinas and golf course development.

CAPV has been putting out some huge press; in October they announced they were present at the workshop progressing the implementation of the AFROVERDE fund for tourist projects in the islands of Santo Antao, Sao Nicolau and Sao Vicente. The Minister for Tourism and Economy chaired the meeting, emphasizing its importance to the Country of Cape Verde. Arendt, the largest legal firm in Luxembourg, which is responsible for the fund structure, outlined what framework is to be used in the fund operations to efficiently and quickly place it into the capital markets. Cabo Verde Capital Inc. has three development projects approved by KMPG, the funds accountancy and tax regulator for inclusion in the government fund to be launched imminently.

On October 6 they announced they entered into discussions with Hard Rock Hotels and Casinos to develop two locations in the Republic of Cabo Verde. Definitive documentation is expected to be signed in the next few days.

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Closing of the acquisitions described herein remains subject to the terms and conditions contained in the anticipated definitive agreements and may require regulatory or shareholder approvals.

The island state of Cape Verde, comprises ten principal islands, each with its own character and potential is located off the west coast of Africa and offers a unique and opportunity for development of its tourism and real estate sectors.

On October 8 they said they came to an agreement in principle with a global hotel management company for their hotel project in Santo Antao that is being partially financed by Caixa Economica Cabo Verde. The company is developing in the Republic of Cabo Verde on the island of Santo Antao. The site is over 60,000 sq.m. Definitive documentation is expected to be signed in the next few days and will include details of the commercial terms, that reflect Cabo Verde Capital Inc. business practice built on a platform of de-risk and exit strategy in their projects through lease agreements.

On November 5 CAPV issued an 8k announcing the cancellation of 246,750,000 common shares bringing the current level of outstanding shares down to about 53 million. According to the 8k the Company returned to the transfer agent the certificates for, and cancelled, 246,750,000 outstanding shares of common stock. Following the cancellation of these shares, the Company has 53,056,005 shares of common stock outstanding at the close of business November 5, 2015.

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Currently trading at a $2.5 million market valuation CAPV does list over $35 million in assets comprised of land and buildings and Investments in Balwerk X and Square Cabra, Lda. Besides that they have minimal revenues and fast rising short term debt. But CAPV is an exciting story in small caps currently in discussions with Hard Rock Hotels and Casinos to develop two locations in the Republic of Cabo Verde that has been highly successful in attracting a massive shareholder base how is bidding this one higher. We will be updating CAPV as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with CAPV.

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Disclosure: we hold no position in CAPV either long or short and we have not been compensated for this article.

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