3:30pm: The Cubs have also inked Colombian right-hander Erling Moreno for $800K, according to Badler. Moreno ranked as BA's No. 16 prospect and MLB.com's No. 17 prospect. The 6'3", 190-pound 16-year-old has touched 90 mph with his fastball and projects to become a power pitcher down the road.

10:59am: The Cubs made a big international signing today, inking 16-year-old Venezuelan shortstop Gleyber Torres to a $1.7MM deal according to MLB.com's Jesse Sanchez. Torres ranked second among international prospects on the list from Baseball America's Ben Badler, and third on MLB.com's list. The Cubs also signed Dominican righty Jefferson Mejia for $850K today, but still have plenty to spend given their $4,557,200 pool.

Torres has "the potential for five average or better tools," wrote Badler, who noted that he has drawn comparisons to Freddy Sanchez.