Vancouver, BC, March 24, 2023 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2), (Munich: A2PU92), (the "Company") is pleased to announce a corporate update. The Company issues the current news release in conformity with policy 85, sections A and C of the SECURITIES ACT as it pertains to "Continuous Disclosure."
RevoluPOS Instant Free Trial Billing Platform
RevoluPOS was designed principally to bring the developing world into the 21st century. RevoluPOS appeals to small businesses in developed nations that wish to expand payment acceptance via credit or debit cards. Through constant analysis of users, the Company has identified that certain users, especially those wishing to try RevoluPOS in their business, need the ability to realize a trial transaction. Namely, charge a consumer while testing the system in real-time without formally completing all the sign-up and compliance steps. As a result, starting April 2023, the Company expects to launch a Free-Use trial of RevoluPOS, allowing between two and three trial transactions of up to 250 euros (or foreign currency equivalent) to occur without the obligated sign-up procedure. The Company aims to respond to user feedback and numerous comments about offering a short sign-up free trial of the billing platform to allow new users to test its unique attributes. The Company expects RevoluPOS to experience a dramatic increase in merchants and users due to this upcoming free-trial scenario.
RevoluPAYVideos.com surpasses 200k Unique Views
Further to the news release dated 25th of July 2022, the Company is pleased to announce that RevoluPAYVideos.com has surpassed 200k Unique Views. RevoluPAYVideos.com was launched to demonstrate the worldwide enthusiasm of users of our financial technology. The website directory features +200 videos about the innovative RevoluPAY App from independent worldwide vloggers, international news media, and other user-created "how-to" videos published on YouTube. The directory demonstrates the global uptake of the Company's core financial technology, RevoluPAY, and more importantly, the overt espousal of each revenue vertical linked to the main RevoluPAY wallet. The goal is to multiply revenue via our ecosystem of RevoluCHARGE, RevoluSEND, RevolUTILITY, RevoluEX, RevoluEGAME, RevoluVIP, etc. It shows consumer endorsement of the concept to see thousands of users exploit the ease of use and rapid transactions as they seek to resolve everyday needs through these proprietary revenue verticals, all natively linked to each RevoluPAY App.
Current Status of the Equity Investment
Further to the news release dated 20th of March, 2023, the timeline agreed by the suitors of the mutually agreed third addendum assigns the newly defined period within which the European Financially Regulated entity expects to complete within a new 14-day maximum term ending on or before midnight April 2nd, 2023. As such, the investment proposal is anticipated to culminate on or before midnight on April 3rd, 2023. Nonetheless, the Company reiterates there can be no guarantee that any definitive agreement, tender, or investment will be completed. The Company will keep shareholders closely informed of developments throughout the final mutually agreed extension term.
Mr. Marshall Share Disposition
Further to the early warning report filed on February 18th, 2022, Company CEO Steve Marshall has today reported the disposition of a tranche of his shareholdings. While Mr. Marshall is not required to publicly divulge personal decisions surrounding his private investments in this Company or any other, on this occasion, he has chosen to do so, primarily to encourage clarity amongst the Company's other stakeholders. Consequently, Mr. Marshall clarifies that personal circumstances have required he reduces a sizeable personal brokerage margin account which he has partially satisfied via the divestment of privately held shares in RevoluGROUP as reported today on the System for Electronic Disclosure by Insiders (SEDI). As such, overall market value and variations impacting alternate portfolio investments held by Mr. Marshall were the cause for the disposition of the REVO shares reported. Mr. Marshall continues as the Company's largest shareholder, with approximately 15.9m shares. He also holds 5,246,000 exercisable corporate warrants.
Links Used in this News Release.
RevoluPAYVideos.com - https://revolupayvideos.com/
Early Warning Report 18/02/2022 - https://tinyurl.com/ykankbex
The Company's flagship Neobanking technology is RevoluPAY®, the Apple and Android multinational payment app. Conceived entirely in-house, RevoluPAY features proprietary, sector-specific technology of which the resulting source code is the Company's intellectual property. RevoluPAY's built-in features include Remittance Payments, Forex, Crypto-to-fiat exchange, Retail and Hospitality payments, Real Estate Payments, pay-as-you-go phone top-ups, Gift Cards & Online Credits, Utility Bill payments, Gaming Credits, Leisure payments, Travel Payments, etc. RevoluPAY is aimed squarely at the worldwide multi-billion dollar Open Banking sector, cross-border forex payments, and + $595 billion family remittance market. RevoluPAY® is operated by the European wholly-owned subsidiary RevoluPAY EP S.L situated in Barcelona. RevoluPAY is a licensed United States MSB, Canadian FINTRAC, and European PSD2 payment institution 6900 under the auspices of E.U. Directive 2015/2366 with E.U. 27 Country Passporting and official issuer of Visa® Cards and authorized Visa® Affiliate Member. RevoluGROUP Canada Inc. controls five wholly-owned subsidiaries on four continents.
About RevoluGROUP Canada Inc.:
RevoluGROUP Canada Inc. is a multi-asset, multidivisional, publicly traded Canadian Company deploying advanced technologies in; Banking, Mobile Apps, Money Remittance, Cross-Border Forex Payments, Mobile Phone Top-Ups, EGaming, Healthcare Payments, Esports, Invoice factoring, Online Travel, Vacation Resort, Blockchain Systems, and Fintech app sectors. Click here to read more.
For further information on RevoluGROUP Canada Inc. (TSX-V: REVO), visit the Company's website at www.RevoluGROUP.com. The Company has approximately 192,835,376 shares issued and outstanding.
RevoluGROUP Canada, Inc.
For further information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
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