Vancouver, BC, Jan. 21, 2022 (GLOBE NEWSWIRE) — RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (“the Company”) announces a non-brokered private placement of up to 10,000,000 units at a price of $0.20 each, to raise gross proceeds of up to $2,000,000. Each Unit will consist of one common share and one warrant (each, a “Warrant”) exercisable to purchase one additional common share at a price of $0.40 each for a period of one ( 1) year from the date of issue. The expiration of the Warrants may be accelerated at the sole discretion of the Company by written notice if the closing price of the Common Share on the TSX Venture Exchange is equal to or greater than C$0.44 for a minimum of ten (10) consecutive operations days. A large lead order for this private placement comes from CEO Steve Marshall.
The private placement is subject to the approval of the TSX Venture Exchange and all securities are subject to a hold period of four months and one day. Finder’s fees may be payable in connection with the private placement, all in accordance with the policies of the TSX Venture Exchange. A portion of the Private Placement constitutes a “related party transaction” within the meaning of Exchange Policy 5.9 and National Instrument 61-101 – Protection of Minority Holders of Securities in Special Transactions (“NI 61-101”) adopted in politics. The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of NI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of NI 61-101 in regarding the participation of a related party to the Private Placement.
Key Private placement allowances
Notable future revenue development goals requiring investment through the cited products include, but are not limited to, strategic sectors for the first and second quarters of 2022 and beyond.
Main card issuer status – According to information as of November 22, 2021, RevoluPAY EP SL is in the final stages of discussions with one of the top 4 card issuers in the world, representing nearly 50% of all credit cards in circulation in the United States and more 50% in Europe. The Company has submitted a preliminary request for Associate Member status to commence issuance and acquisition operations. In order to meet the recommended paid-up capital criteria, management voted unanimously on the 28and December 2021 to increase the share capital of the wholly-owned subsidiary RevoluPAY EP SL by 880,000 euros (approximately C$1.26 million) to a total of 1,615,000 euros (approximately C$2,312,355). Being a card issuer should provide the company with a key competitive advantage resulting in the rapid conclusion of many outstanding issues related to revenue generation.
North American market – The Company intends to allocate approximately C$125,000 of proceeds to the integration of advanced technologies specifically associated with the continued deployment of the US MSB II license and the Canadian analog FINTRAC license to expand market penetration 2022 in North America through its locally domiciled subsidiaries in Vancouver, British Columbia and Miami, Florida.
RevoluTRANSFER – The Company intends to allocate approximately C$100,000 of the proceeds to conclude the development of RevoluTRANSFER, a key white-label catalyst, and ultimately launch key FOREX activities related to RevoluREALTY and foreign buyer property acquisitions in the whole world.
The Company intends to use the remaining net proceeds from the private placement to accelerate the launch of RevoluBET, RevoluMED and RevoluESPORTS, thereby increasing the white label exposure of its current and future revenue sectors in 2022 and for expenses. operating general.
License categories RevoluPAY Unique PSD2
The company notified shareholders of the grant of the PSD2 license on May 21, 2020. Although the company immediately introduced the use of the core license, specific extended categories of Central Bank approval remained untapped. More recently, the company’s ability to manage remittances worldwide was launched. Initially via the self-launched RevoluSEND platform, Million Bridges, and later white-labeled Sendity, with more white-labeled products to come. An additional aspect of the specific license classifications granted to RevoluPAY was the “Issuer of payment instrumentsThis feature of the PSD2 license allows RevoluPAY to eventually become a credit/debit card issuing entity. SL exceeds the minimum threshold recommended by the world’s top 4 card issuers.
Links used in this press release.
RevoluSEND – https://revolusend.com/
Sendity – https://sendity.com/
Million Bridges – https://millionbridges.com/
Revolurealty – https://revolurealty.com/
The company’s flagship neo-banking technology is RevoluPAY®, the Apple and Android multinational payment application. Entirely designed in-house, RevoluPAY features proprietary, industry-specific technology, the resulting source code of which is the intellectual property of the Company. RevoluPAY’s built-in features include Wire Transfer Payments, Forex, Crypto-Fiat Exchange, Retail and Hospitality Payments, Real Estate Payments, Pay Per View Phone Recharges, Gift Cards and Online Credits , utility bill payments, leisure payments, travel payments, etc. RevoluPAY uses blockchain protocols and directly targets the multi-billion dollar global Open Banking industry and the over $595 billion family remittance market. RevoluPAY® is operated by the 100% European subsidiary RevoluPAY EP SL located in Barcelona. RevoluPAY is an authorized ESM in the United States, Canadian FINTRAC and a European PSD2 6900 payment institution under the auspices of the European Directive 2015/2366 with European passport. RevoluGROUP Canada Inc. controls five wholly-owned subsidiaries on four continents.
On RevoluGROUP Canada Inc.:
RevoluGROUP Canada Inc. is a publicly traded, multi-asset, multi-divisional Canadian company that deploys cutting-edge technologies in; Banking Sectors, Mobile Apps, Remittances, Cell Phone Recharges, EGaming, Healthcare Payments, Esports, Bill Factoring, Online Travel, Resorts, Blockchain Systems and Fintech Applications. Click here to read more.
For more information about RevoluGROUP Canada Inc. (TSX-V: REVO), visit the Company’s website at www.RevoluGROUP.com. The Company has approximately 175,480,592 shares issued and outstanding.
RevoluGROUP Canada, Inc.
For more information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS ITS TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE RELEVANCE OR ACCURACY OF THIS RELEASE.
This press release includes certain statements that may be considered “forward-looking statements”. All statements contained in this press release, other than statements of historical facts, which address events or developments expected by the management of the Company, are forward-looking statements. Although management believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance, and actual results or developments may differ materially from those contained 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 the forward-looking statements include market prices, exploration and development success, the continued availability of capital and financing, and general economic conditions. , market or business. Please see the Company’s public documents at www.sedar.com for more information.