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RevoluGROUP Canada Inc.

TSXV Exchange | Dec 10, 2019, 7:21 PM EST | Real-time price

REVO $ 0.17 RT
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RevoluGROUP Canada Inc. Provides Corporate Update

VANCOUVER, British Columbia, Dec. 02, 2019 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX-V: REVO) (“the Company”) is pleased to announce an update.

  • RevoluVIP To Add 37,269 Hotels
  • RevoluVIP Car Rental Launch 15th December
  • RevoluPAY VCC Processing Expedia, Bookings Holdings, Agoda
  • RevoluCHARGE Pay-As-You-Go Mobile Top-Ups Update
  • PSD2 Bank License Update

RevoluVIP To Add An Extra 37,269 Worldwide Hotels

The company has recently signed an agreement to include an additional 37,269 worldwide hotels into the RevoluVIP platform through a renowned hotel supplier. While the wholesale supplier offers worldwide hotels, they are particularly prominent in Asia, significantly increasing the number of available hotels in the region for our RevoluVIP Travel Club Members. As a result, hotel Inventory will dramatically increase in: China, Hong Kong, Indonesia, Japan, Laos, Malaysia, Myanmar, Philippines, Singapore, South Korea, Thailand, Vietnam, Macau, Cambodia, Taiwan, French Polynesia, Fiji, Myanmar, Laos, Mongolia, Macau, Nepal, and Guam. The company expects the supplier’s hotels to be active for booking on all RevoluVIP Destination websites, on or before December 10th 2019.

RevoluVIP Car Rental Launch

The company is pleased to announce that, further to the company’s news release dated 22 November 2019, worldwide car rentals from major brands will be available for RevoluVIP Travel Club Members, on or before December 15th 2019. Over the subsequent weeks, the company will continue to augment world wholesale car rental suppliers.

Expedia, Bookings Holding VCC And RevoluCHARGE Update

The company would like to update shareholders concerning its revenue generating verticals RevoluPAY VCC Clearance and RevoluCHARGE for the month of November 2019. The unaudited November 2019 VCC turnover being approximately $CA 193,000. Likewise, pay-as-you-go phone top-ups have surpassed the unaudited approximately $CA 91,000 during the same month. Shareholders are reminded that no meaningful marketing efforts have been dedicated to either vertical thus far, yet this is a significant increase over the August 2019 numbers previously released. The growing user uptake of RevoluCHARGE and VCC continues to be largely by word-of-mouth.

PSD2 Bank License Update

The company would like to inform shareholders that the three-way communication between the Central Bank, Hogan Lovells and RevoluPAY CEO, Alfredo Manresa, has remained fluid over the past 14 days. The company continues to rapidly fulfil and comply with every request of the Central Bank concerning the company’s pending approval for a PSD2 Banking License in Europe. Shareholders are reminded that the wholly owned subsidiary RevoluPAY S.L. submitted its license petition to the Central Bank on 22 November 2018. Inopportunely, the new European PSD2 Licensing Regulations were Introduced into law the following day on 23 November 2018. To press, the Central Bank has not granted a Full PSD2 license to any new petitioner since the Nov 2018 change in law. The company remains confident that a proprietary PSD 2 license be granted.

About RevoluPAY®

The Company’s flagship technology is RevoluPAY®, the Apple and Android multinational payment app. Built entirely in-house, RevoluPAY features proprietary, sector specific, technology of which, the resulting source code is the property of the Company. RevoluPAY’s built-in features include: Leisure payments, Travel Payments, Retail and Hospitality payments, Remittance Payments, Real Estate Payments, pay-as-you-go phone top-ups, Gift Cards & Online Credits, Utility Bill payments, etc. RevoluPAY is powered by blockchain protocols, and, is squarely aimed at the worldwide multi-billion dollar leisure sector and, + $595 billion family remittance market. RevoluPAY® is operated by the European wholly owned subsidiary RevoluPAY S.L located in Barcelona. RevoluPAY S.L operates under European E-money - Directive 2009/110/EC through a licensed electronic money institution or EDE Banking Licensed entity. RevoluGROUP Canada Inc. controls 5 wholly owned subsidiaries on 4 continents.

About RevoluGROUP Canada Inc.:

RevoluGROUP Canada Inc. 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, EGaming, Healthcare Payments, Esports, Invoice factoring, 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 150,879,439 shares issued and outstanding.

RevoluGROUP Canada Inc.

“Steve Marshall”
______________________
STEVE MARSHALL
CEO

For further information contact:
Don Mosher
RevoluGROUP Canada Inc.
Telephone: (604) 685-6465
Toll Free: 800-567-8181
Facsimile: 604-687-3119
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.

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