Vancouver, BC, March 31, 2023 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2), (Munich: A2PU92), (the "Company") is pleased to announce that a conference call is planned for April 2nd, 2023 between CEO, Steve Marshall, and the CEO of the European Financially Regulated entity. 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."
Suitor Conference Call Planned 2nd April 2023
The Company would like to advise shareholders that CEO, Steve Marshall expects to attend a prearranged conference call with the CEO of the European Financially Regulated entity on Sunday, April 2nd, 2023. On March 20th, 2023 the Company informed shareholders that it had signed a mutually agreed addendum assigning a newly defined timeline within which the European Financially Regulated entity expected to complete within what was then a new 14-day maximum term ending on or before midnight April 2nd, 2023, likewise the investment proposal was projected to culminate on or before midnight on April 3rd, 2023. Since these dates are looming the parties intend to discuss the next steps on the aforementioned date. The Company expects to update shareholders on Monday as to the outcome of the call.
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. As previously stated CEO, Steve Marshall expects to attend a planned conference call with the CEO of the European Financially Regulated entity on April 2nd, 2023. Even so, the Company repeats 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 news release dated March 24th, 2023, and the subsequent early warning report filed on March 27th, 2023, Company CEO Steve Marshall has today reported the disposition of a final tranche of his shareholdings. Mr. Marshall is now pleased to announce that the personal brokerage margin account has been fully satisfied via the recent divestment of privately held shares in RevoluGROUP as reported today on the System for Electronic Disclosure by Insiders (SEDI). Mr. Marshall continues as one of the Company's largest shareholders, with approximately 5.5m shares. He also holds 4,496,000 exercisable corporate warrants.
About RevoluPAY®
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 193,585,376 shares issued and outstanding.
RevoluGROUP Canada, Inc.
"Steve Marshall"
______________________
STEVE MARSHALL
CEO
For further information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
Email: info@revolugroup.com
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.
