Cabo Verde Capital Inc (CAPV)

[valeriana]

Research Update... More things I've found to speculate on...

Quick RECAP before the new stuff:

"WILMINGTON, DE / ACCESSWIRE / October 6, 2015 / Cabo Verde Capital Inc. (the "Company") (OTC Pink: CAPV) (PINKSHEETS: CAPV), is very pleased to announce that it has entered into discussions with Hard Rock Hotels and Casinos to develop two locations in the Republic of Cabo Verde."

From 11/16 8k: "The Company has proceeded only with two of these projects, a vacation resort on the island of São Vicente and a 10ha block of land on the island of Sal."

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We've looked at the property on Sal island in previous posts, but let's big deeper into the "vacation resort on the island of São Vicente" they mention...

Now, CAPV had 2 prospective properties in São Vicente Island, one called "Fortim Mindelo" and another called "Simpatico Beach Baia." Although the 8k doesn't mention which specific São Vicente property was one of the two projects they decided to proceed with, the 8k uses the word "vacation resort." I assume it would be Fortim Mindelo, as it is referred to multiple times as a resort in past PR and on CAPV's current web site. (The Simpatico Beach Baia doesn't sound like a "resort".. it's described as "eleven 3 bedroom houses, a bar and a restaurant.") So I'm going to assume it's Fortim Mindelo....

Before falling into the hands of CAPV in 2014 (http://www.marketwired.com/press-release/cabo-verde-capital-executes-mous-otc-pink-capv-1924002.htm), this property known as The Fortim Mindelo Resort, was supposedly slated to be developed by Nikki Beach back in 2008/2009. See the following forum messages from 2008 for discussion related to this: (http://www.skyscrapercity.com/showthread.php?t=646407). However, do to unknown reasons, it looks like the development and construction was abandoned? (I can maybe assume it was around the time of the economic crisis of 2008/2009?) Nikki Beach sites no longer mention any Cape Verde development.

The property itself is in an amazing spot, situated on an elevated hill/mountain overlooking the bay. I found it on Google Maps: (https://www.google.com/maps/@16.8909137,-24.9928401,458m/data=!3m1!1e3). To confirm this indeed is the property, I went to CAPV's web site (http://www.caboverdecapital.com/projects/fortim-casino-sao-vicente/nggallery/page/4) and looked the computer-generated images of the development, and the landmarks match up. However, I can't find evidence that any finished construction ever completed here. Or if it was started, probably not finished... So could this be the spot Hard Rock is interested in? Nikki Beach sure was back in 2008.

Let's jump back to the 8k and look at the following: "On October 26, 2015, Brian Stevendale resigned as a director and Chief Executive Officer of the Company. On that same day, John Duggan assumed the title of Chief Executive Officer and Secretary of the Company." Why would he resign after the "discussions with Hard Rock" PR has been something I can't figure out? Personal reasons? Or something more?

A look at his LinkedIn (https://uk.linkedin.com/in/brian-stevendale-57560a19), shows he is also CEO at Tangible - Global Property Development, whose web site lists Cabo Verde as an investment market (http://www.tangible.company/market-investments/cabo-verde/). Towards the bottom on the Cabo Verde page it states the following: "Current investment opportunities- Secured bank funding for Mountain Hotel and Spa Resort in October 2015 and are working with development banks for finance other projects." Hmm... The Fortim Mindelo is on an elevated, mountain-like property.. just sayin'. In fact, there's a mountain right behind the property! (https://www.google.com/maps/@16.89369,-24.992759,3a,75y,90t/data=!3m8!1e2!3m6!1s2524328!2e1!3e10!6s%2F%2Fstorage.googleapis.com%2Fstatic.panoramio.com%2Fphotos%2Fsmall%2F2524328.jpg!7i2048!8i1352) Could Tangible be somewhat involved with CAPV still (merger?), and subsequently be involved in some way with a Hard Rock development? Or is this un-related?

There you go, my latest findings... All speculation of course, but nonetheless interesting.