VANCOUVER, British Columbia, April 29, 2019 (GLOBE NEWSWIRE) -- CUV Ventures Corp. (TSX-V: CUV) (the “Company”) is pleased to announce that CEO, Steve Marshall, has acquired all 15,140,000 outstanding CUV Ventures warrants held by Vesilen Investment. Mr. Marshall and Vesilen have also filed, on the 26th of April 2019, their EWR (early warning report) in respect of the acquisition and, these are available for review on SEDAR. Mr. Marshall has further entered into a subsequent acquisition agreement, dated April 26th 2019, to acquire a further significant amount of CUV Ventures free trading shares from Vesilen Investment, within the next 90 days.
About the Warrant Acquisition
In a private transaction between Mr. Marshall and, the principal of Vesilen Investment, 15,140,000 warrants of the Company were transferred to Mr. Marshall. The total value of the warrants, once exercised, would bring a total of CA$ 1,135,500 into the Company’s treasury. Mr. Marshall intends to exercise the warrants to meet the future capital requirements of the Company.
Future Relationship with Shareholder and Insider Vesilen
Vesilen Investments continues as a significant shareholder of the Company. In a written communication to the board of directors on 26 April 2019, the CEO of Vesilen affirms that the disposition of warrants to Mr. Marshall was to further allow immediate financing of CUV Ventures and, also permit Vesilen to focus on the RevoluFIN lending platform, as per the 8th March 2018 news release, in which Vesilen assumed the role as seed capital source and, main protagonist, in the now active vertical, RevoluFIN, financing platform. The Company welcomes this renewed active role of Vesilen in its RevoluFIN division.
Letter from CEO Steve Marshall
Mr. Marshall provides a letter to shareholders https://docdro.id/XNkscSI
About CUV Ventures Corp.:
CUV Ventures Corp. is a multi-asset, multidivisional publicly traded Canadian company deploying advanced technologies in the; Online Travel, Vacation Resort, Mobile Apps, Money Remittance, Mobile phone top-ups, Invoice factoring, Blockchain Systems, and Fintech app sectors.
Our flagship technology is RevoluPAY®, the Apple and Android multinational leisure payments and remittance app, powered by blockchain protocols, and aimed at the worldwide + $595 billion family remittance market. Click here to read more.
For further information on CUV Ventures Corp. (TSX-V: CUV) visit the Company’s website at www.cuvventures.com. The Company has approximately 134,870,000 shares issued and outstanding.
CUV VENTURES CORP.
For further information contact:
CUV Ventures Corp.
Telephone: (604) 685-6465
Toll Free: 800-567-8181
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.