RevoluGROUP Canada Inc.
(TSX-V:
REVO),
(Frankfurt: IJA2) (the "Company")
is pleased to announce that the TSX Venture Exchange has approved
the transaction for the Company to own the VIP Collection 182
domain names. This unique collection of domain names and websites
is the backbone of the Company's RevoluVIP travel vertical. Today's
TSX Venture exchange approval is of notable benefit to shareholders
ceasing, with immediate effect, the annual lease agreement, which
began on October 5th, 2018. Yearly cash expenditure is now reduced
by 101,340 USD (Approx. 131,674 $CA). Acquiring these valuable
domain assets ensures the continuance of RevoluVIP Travel Club.
Furthermore, growing the underlying valuation of the platform and
eventual overall corporate valuation, with a focus on the planned
exchange graduation, through ownership of the entire platform
outright at the opportune time, as the travel industry starts to
pick up again post-pandemic.
Final TSX.V
Approval of the Acquisition
The Company has paid 514,446 CAD (five hundred
and fourteen thousand, four hundred and forty-six Canadian
dollars), about 396,123 USD, for the entire previously leased VIP
Collection domain portfolio. The Company has settled the purchase
price by allotting and issuing 2,638,184 common shares in the
capital stock at the closing price of $CA 0.195 cents on July 21st,
2022. For further information, visit the corporate news release
dated 21st June 2022.
Central Bank Cryptocurrency Trading
Registration
Per the news release dated the 11th of July
2022, the Company submitted its comprehensive final response to the
Central Bank ("CB") on the 21st of July 2022.
Corporate Strategy Concerning the Crypto
Market
To reduce undue shareholder exposure to
Cryptocurrency risk over the past few years, in what EU regulators
have called the 'Wild West', management has remained risk-averse
during this unregulated term. Firstly, only launching the compliant
unidirectional RevoluEX Crypto to FiAT platform while maintaining
the fully developed and DCE homologated bilateral
acquisition/disposition facility deactivated until CB approval.
During this interim RevoluEX has served as the real-time
demonstration to CB regulators that RevoluPAY has self-governed,
since inception, enacting Crypto transactions in total compliance
with stringent KYC/AML requisites, having further met and exceeded
what are now the MiCA legal requirements. Nevertheless, with an EU
legal framework now in place, and other jurisdictions set to follow
suit rapidly, we remind shareholders of our first mover status
concerning the EU Crypto law MiCA registration. While the now
approved MiCA law was still in conceptual stages, management began
petitioning for EU Crypto Stored Value authorization in late 2021
and, as previously stated, expects its granting soon. As an example
of the foresight expressed during the AGM on December 15th, 2021,
the Company accurately predicted that the crypto industry would not
only require a specific license to transact the stored value of
crypto, but likewise, all participants, including DCE's, would
further require a Financial Banking License to process the
inflows/outflows of Sovereign Currency (FiAT).
The recent disinformation disseminated by
certain prominent DCEs, in which they tout having been granted the
"Stored Value Registration" in certain jurisdictions as their right
to enact crypto transactions from/to sovereign currencies (FiAT) is
misleading and untrue. A reality exemplified after the recent EU
legislation approval in a recent 1st of July Financial Times,
London news article. The prominent financial newspaper stated,
"Registrations fall short of fully fledged licenses to operate as a
regulated financial company". This aspect of the new law
necessitates DCEs ("Digital Currency Exchanges") also possess a
banking license or maintain a contractual relationship with a
fully-fledged financial institution such as RevoluPAY to transact
the fiat currency required in every single acquisition or
disposition of crypto assets.
To the Company's knowledge, RevoluPAY is the
first Pan-European licensed financial institution to similarly
solicit the Central Bank Crypto Registration in compliance with
legally binding MiCA regulations. The upcoming combined ability of
RevoluPAY to transact as both the licensed Sovereign Currency
(FiAT) financial institution and Central Bank-approved crypto
operator is expected to garner substantial interest in a Crypto
industry that peaked at $2.9 trillion USD in November 2021. The
Company continues to pursue this previously predicted outcome to
exponentially increase shareholder value as DCEs and other players
in the industry grapple with the new July 2022 regulations in an
effort to comply. However, time will be of the essence for DCEs,
since the EU Commission granted the European Securities and Markets
Authority ("ESMA") new and far-reaching powers to systematically
ban, outright and overnight, any non-compliant actor in the crypto
sphere. The Company expects DCEs to act very quickly as a result,
as they seek to acquire the ability to continue in business through
the necessary licensing.
The Company believes that this regulation
inspired urgency will bring new opportunities for RevoluPAY as
DCE's seek to obtain EU 27 country banking ability allied to the
crypto stored value registration of the banking categories
RevoluPAY already possesses and the crypto registration currently
in final stages of approval. Of course, it is essential that
shareholders not overlook that RevoluPAY has steadfastly pursued
and granted further financial licensing. RevoluPAY is authorized to
operate in the United States and Canada while holding agreements to
transact through bilateral banking correspondence accords in
another +120 countries. Undoubtedly, an attractive corporate
structure that management believes will significantly increase the
prospects of a positive outcome for shareholders over the short to
medium term.
As DCEs continue to legitimize and demonstrate
the intrinsic value of Crypto, RevoluPAY Revenue Verticals could
offer access to some vital retail sectors in which Crypto could be
used directly as currency for a myriad of services such as Hotels,
B&Bs, Flights, Car Rental, Telecommunications Services,
Remittances, International FiAT Transfers, Video Gaming, Gift
Cards, Subscriptions of Netflix, Microsoft, Xbox, etc further
supporting Crypto as venerable alternative to FiAT for everyday
transactions.
RevoluPAYVideos.com media
Directory Launched
Further to the news release dated 11th of July
2022, shareholders are invited to visit the published live version
of RevoluPAYVideos.com to witness firsthand the enthusiasm our
financial technology generates amongst users and the moving
appreciation of our worldwide supporters whose lives are changing
for the better in ways unthinkable or unfathomable for those of us
fortunate enough to have been born in a first-world environment.
The new website directory currently features over 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
embracing of not only the Company's core financial technology
RevoluPAY, but more importantly, the overt espousal of each revenue
vertical linked to the main RevoluPAY wallet. Multiplying revenue
via our ecosystem of RevoluCHARGE, RevoluSEND, RevolUTILITY,
RevoluEX, RevoluEGAME, RevoluVIP, etc. has been the goal since the
outset. 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.
Links Used in this News
Release.
Reuters 30th June 2022 -
https://tinyurl.com/yau8tjn5 Reuters 1st July 2022 -
https://tinyurl.com/yau8tjn5 CNBC 1st July 2022 -
https://tinyurl.com/yc68fbhkRevoluPAY Videos -
https://revolupayvideos.com/ USD 2.9 trillion Crypto industry -
https://tinyurl.com/33srwzpc
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,
Leisure payments, Travel Payments, etc. RevoluPAY employs
blockchain protocols and is squarely aimed at the worldwide
multi-billion dollar Open Banking sector 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 EU Passporting. 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, 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 186,969,692
shares issued and outstanding.
RevoluGROUP Canada,
Inc.
"Steve Marshall" ______________________STEVE
MARSHALLCEO
For further information, contact:RevoluGROUP
Canada Inc.Telephone: (604) 332 5355Email: 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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