|By Marketwired .||
|May 9, 2013 02:27 PM EDT||
NEW YORK, NEW YORK -- (Marketwired) -- 05/09/13 -- Sino Cement, Inc. (OTC PINK:OCEE) Mr. Marco Garduno Chavez, Director, announced today that the Company has entered into an additional Agreement with Macau Live Gaming, S.A., Costa Rica, to acquire the remaining 30% of the shares of Macau (www.macaulivegaming.com), a development which is anticipated to bring new revenue streams to Sino, and enhance its stated policy of acquiring real estate properties and projects.
On April 29, Sino announced that it had entered into a Letter of Intent to acquire 70% of Macau for $ 6,000,000.00 in Convertible Preferred Shares of Sino. Macau is a company engaged in Online Gaming with strategic focus clients in Asia, the Pacific Rim, India, Australia, Europe and Latin America. As previously announced, Macau is also engaged in identifying and purchasing boutique hotels and Casinos in Costa Rica, and is in an advanced stage of negotiations to acquire a Five Star Hotel property in a San Jose, Costa Rica suburb. Macau has recently negotiated strategic alliances with established online operators in Costa Rica whose scope is worldwide via the Internet
Mr. John Lambert Uhl, recently named Director of Macau Live Gaming, S.A., has confirmed the new agreement with Sino, by saying: This merger with the public company is expected to generate a much stronger capital base for Macau's operations. Mr. Uhl resides in Costa Rica, but previously was an executive with Drexel Burnham Lambert, Century City, Los Angeles, California. He holds an MBA from the University of California.
Both companies are working diligently to complete all regulatory and legal requirements for the proposed acquisition of Macau's shares and the resulting merger.
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Sino Cement, Inc.