Mr. Erik Riveros reports

REVOLUGROUP ANNOUNCES $2.5M CAD PRIVATE PLACEMENT INVESTMENT AND SECURES USD $500,000 USD LOAN

Revolugroup Canada Inc. has arranged a private placement offering of up to 50 million units for five cents per unit for gross proceeds of up to $2.5-million. Each unit consists of one common share and one common share purchase warrant, with each warrant entitling the holder to acquire an additional share for 15 cents for two years from the closing date. The private placement may close in tranches led by Meridien Holdings LLC, including participation from insiders and existing shareholders. The proceeds of the financing will be used for business expansion and general and administrative purposes.

Revolugroup secures $500,000 (U.S.) loan from Meridien Holdings

Additionally, Revolugroup has secured a $500,000 (U.S.) loan from Meridien Holdings, effective Sept. 6, 2024. The loan has a maturity date of Dec. 6, 2024, and bears an interest rate of 6.00 per cent per annum. Interest payments will be made monthly, with the principal and any remaining interest due on the maturity date. This loan further strengthens the company's financial flexibility as it continues to execute its growth strategy.

This new investment, along with the secured loan, reinforces Revolugroup's financial position and demonstrates the company's commitment to executing its growth plans. Revolugroup also remains committed to the Aug. 14, 2024, announced investment of up to $7-million through structured tranches over the next 12 months.

Erik Lara Riveros, chief executive officer of Meridien Holdings and interim chief executive officer of Revolugroup, stated: "We are thrilled to further our partnership with Revolugroup through this strategic investment. This $2.5-million private placement, along with the additional loan support, begins our broader commitment to support the company's vision. This additional capital will drive operational excellence and set the foundation for long-term growth. Our structured $7-million investment will continue to provide Revolugroup with the necessary financial flexibility to expand its global footprint and enhance its payment capabilities. We are excited about the future and look forward to achieving new milestones together."

Previous private placement details

The private placement announced initially on July 26, 2023, has expired. Additionally, the acquisition of the 22,635,530 warrants and 11,317,765 shares will no longer take place.

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