Subject: RevoluGROUP | News release - Sept 6, 2024
PDF Document
File: Attachment 6-9-2024 - RevoluGROUP Announces Leadership Changes, Technological Partnerships, and New Business Development Opportunities - clean.pdf
997 Seymour Street Suite 230 - Unit 9, Vancouver, BC, Canada, V6B 3M1
www.RevoluGROUP.com
TSX Venture Exchange Symbol: REVO Telephone: (604) 800 9676
Email: info@RevoluGROUP.com
NEWS RELEASE
September 6th, 2024
RevoluGROUP Announces Leadership Changes, Technological Partnerships, and New Business
Development Opportunities
Vancouver, BC RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2),
(Munich: A2PU92) (the "Company") is pleased to provide an update on recent developments that reflect
the Company's commitment to continued stability and growth.
Leadership Changes at Revolupay EP SL
On September 4th, the board of directors unanimously agreed to make key structural changes within
Revolupay EP SL to better support the development of the Company's Banking as a Service model. These
changes will enhance the Company's ability to deliver impeccable service to enterprise and consumer clients,
while positioning Revolupay for long-term growth.
As part of this restructuring, Mr. Alfredo Manresa and Ms. Rocio Jimenez will transition their responsibilities
for the day-to-day directorship of Revolupay to Mr. Yoel Rosenheck, a member of the board and internal
Chairman of RevoluGROUP Canada Inc., upon receiving authorization from the financial regulator. Both will
assist in transitioning compliance services to a specialized company, ensuring a smooth and efficient
handover. RevoluGROUP has engaged Herbert Smith Freehills to represent the Company before the Bank of
Spain and to guide these management changes.
New Leadership at Revolugroup USA Inc.
In line with the Company's expansion of its Banking as a Service model, Mr. Daniel McCracken, a U.S. citizen
residing in Florida, has been appointed as the new CEO of Revolugroup USA Inc. Mr. McCracken brings
extensive experience in payment systems both in the U.S. and internationally, which will be instrumental in
refining the Company's commercial strategy, particularly in Open Banking services and ACH transfers.
Mr. McCracken's responsibilities will include ensuring that Revolugroup USA complies with all regulatory
requirements, safeguarding the Company's standing with regulatory bodies. He will also work closely with
the Board of Directors and Revolupay to drive future growth. RevoluGROUP will provide further updates on
these developments as they progress.
Technological Partnership to Strengthen Revolupay
To enhance its technological resources and reduce operational costs, RevoluGROUP is currently reviewing an
opportunity to partner with a UK-based software development company that offers a comprehensive modular
fintech platform. This platform will provide the tools and integration necessary to bolster Revolupay's Banking
as a Service model.
The software, which is already approved and operational within the EU, would allow Revolupay to launch
fully automated banking services for companies and individuals across the European Union. Through this
partnership, the Company will also gain the ability to issue dedicated IBAN accounts in EUR, USD, and GBP,
along with integrated MasterCard services for issuing and acquiring. Additionally, Revolupay will be able to
operate independently with both VISA and MasterCard.
Potential Business Development Opportunity in Bangladesh
RevoluGROUP has been approached by a group of international investors to explore discussions with the
Central Bank of Bangladesh, thanks to the work of board member Mr. Mab Shahria. This opportunity aligns
with Bangladesh's growing financial sector, particularly its peer-to-peer (P2P) payments market, which has
seen a compound annual growth rate (CAGR) of 20% since 2018 and reached US$395 billion in transaction
volume.
To evaluate this opportunity, the board has appointed Mr. Erik Aaron Lara and Mr. Gavin McMillan to conduct
initial due diligence and report their findings to the board.
Summary
The actions taken this week reinforce RevoluGROUP's dedication to strengthening its core subsidiaries,
Revolupay EP SL and Revolugroup USA, while enhancing its technological resources and exploring growth
opportunities in Bangladesh. These strategic measures aim to position the Company for long-term success,
operational excellence, and increased shareholder value.
For further information on RevoluGROUP Canada Inc. (TSX-V: REVO), visit the Company's website at
www.RevoluGROUP.com.
RevoluGROUP Canada, Inc.
"Erik Arran Lara Riveros"
______________________
Erik Arran Lara Riveros
Interim CEO
For further information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 800 9676
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.sedarplus.ca for further information.
Word Document
File: '\\swfile\EmailIn\20240906 174926 Attachment 6-9-2024 - RevoluGROUP Announces Leadership Changes, Technological Partnerships, and New Business Development Opportunities - clean.docx'
997 Seymour Street Suite 230 - Unit 9, Vancouver, BC, Canada, V6B 3M1
www.RevoluGROUP.com
TSX Venture Exchange Symbol: REVO
Email: info@RevoluGROUP.com
Telephone: (604) 800 9676
NEWS RELEASE
September 6th, 2024
RevoluGROUP Announces Leadership Changes, Technological Partnerships, and New Business Development Opportunities
Vancouver, BC - RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2), (Munich: A2PU92) (the "Company") is pleased to provide an update on recent developments that reflect the Company's commitment to continued stability and growth.
Leadership Changes at Revolupay EP SL
On September 4th, the board of directors unanimously agreed to make key structural changes within Revolupay EP SL to better support the development of the Company's Banking as a Service model. These changes will enhance the Company's ability to deliver impeccable service to enterprise and consumer clients, while positioning Revolupay for long-term growth.
As part of this restructuring, Mr. Alfredo Manresa and Ms. Rocio Jimenez will transition their responsibilities for the day-to-day directorship of Revolupay to Mr. Yoel Rosenheck, a member of the board and internal Chairman of RevoluGROUP Canada Inc., upon receiving authorization from the financial regulator. Both will assist in transitioning compliance services to a specialized company, ensuring a smooth and efficient handover. RevoluGROUP has engaged Herbert Smith Freehills to represent the Company before the Bank of Spain and to guide these management changes.
New Leadership at Revolugroup USA Inc.
In line with the Company's expansion of its Banking as a Service model, Mr. Daniel McCracken, a U.S. citizen residing in Florida, has been appointed as the new CEO of Revolugroup USA Inc. Mr. McCracken brings extensive experience in payment systems both in the U.S. and internationally, which will be instrumental in refining the Company's commercial strategy, particularly in Open Banking services and ACH transfers.
Mr. McCracken's responsibilities will include ensuring that Revolugroup USA complies with all regulatory requirements, safeguarding the Company's standing with regulatory bodies. He will also work closely with the Board of Directors and Revolupay to drive future growth. RevoluGROUP will provide further updates on these developments as they progress.
Technological Partnership to Strengthen Revolupay
To enhance its technological resources and reduce operational costs, RevoluGROUP is currently reviewing an opportunity to partner with a UK-based software development company that offers a comprehensive modular fintech platform. This platform will provide the tools and integration necessary to bolster Revolupay's Banking as a Service model.
The software, which is already approved and operational within the EU, would allow Revolupay to launch fully automated banking services for companies and individuals across the European Union. Through this partnership, the Company will also gain the ability to issue dedicated IBAN accounts in EUR, USD, and GBP, along with integrated MasterCard services for issuing and acquiring. Additionally, Revolupay will be able to operate independently with both VISA and MasterCard.
Potential Business Development Opportunity in Bangladesh
RevoluGROUP has been approached by a group of international investors to explore discussions with the Central Bank of Bangladesh, thanks to the work of board member Mr. Mab Shahria. This opportunity aligns with Bangladesh's growing financial sector, particularly its peer-to-peer (P2P) payments market, which has seen a compound annual growth rate (CAGR) of 20% since 2018 and reached US$395 billion in transaction volume.
To evaluate this opportunity, the board has appointed Mr. Erik Aaron Lara and Mr. Gavin McMillan to conduct initial due diligence and report their findings to the board.
Summary
The actions taken this week reinforce RevoluGROUP's dedication to strengthening its core subsidiaries, Revolupay EP SL and Revolugroup USA, while enhancing its technological resources and exploring growth opportunities in Bangladesh. These strategic measures aim to position the Company for long-term success, operational excellence, and increased shareholder value.
For further information on RevoluGROUP Canada Inc. (TSX-V: REVO), visit the Company's website at www.RevoluGROUP.com.
RevoluGROUP Canada, Inc.
"Erik Arran Lara Riveros"
______________________
Erik Arran Lara Riveros
Interim CEO
For further information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 800 9676
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.sedarplus.ca for further information.
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