Cuba Beverage Company (OTCPK:CUBV) announced a private placement of equity shares for gross proceeds of $1,000,000 on May 8, 2012. The company has already begun to receive executed subscriptions. The offering will expire, if it is not closed on or before May 31, 2012. On May 29, 2012, the company announced that it has received funds and funding commitments totalling $500,000 completing its first round. The company expects to receive an additional $500,000 in financing in the second round.