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Bullboard - Stock Discussion Forum RevoluGROUP Canada Inc V.REVO

RevoluGROUP Canada Inc. is a Canada-based multi-asset, multidivisional payment services directive 2 (PSD2) central bank licensed company. The Company is deploying advanced technologies in banking, mobile apps, money remittance, cross-border forex payments, mobile phone top-ups, e-gaming, healthcare payments, e-sports, invoice factoring, online travel, vacation resort, blockchain systems, and... see more

TSXV:REVO - Post Discussion

RevoluGROUP Canada Inc > Nows this Morning ... RevoluGROUP (9 sept & 6 sept, 2024)
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Post by BipBip100 on Sep 09, 2024 8:15am

Nows this Morning ... RevoluGROUP (9 sept & 6 sept, 2024)

September 9, 2024

Dear Shareholders,

I trust this message finds you well.

As Interim CEO, I would like to share an update on the recent developments over the past week, all of which aim to ensure the continued stability and growth of RevoluGroup Canada Inc.

Sincerely,

Erik Aaron Lara Riveros
Interim CEO

 

 

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 Aaron Lara Riveros"

______________________

Erik Aaron Lara Riveros
Interim CEO
 

Comment by Jaytee123 on Sep 09, 2024 4:34pm
Excellent news. Wonder what's next? :)
Comment by Reggie1 on Sep 09, 2024 4:42pm
What's next?  Sub 5 cents that is what is next.  And that ain't scaring people out of cheapies either.  The company scared everyone out of their cheapies.  Nutcases think otherwise. 
Comment by MrForthright on Sep 09, 2024 4:56pm
That is the ultimate nothing burger. The highlights for me are: the cashless takeover is well under way and having a director directly be involved in operations is not good governance.
Comment by Wally41 on Sep 09, 2024 6:28pm
Yep, it's going to drop down to $0.01. and they'll be offered the money. Everyone will be the loser
Comment by Jaytee123 on Sep 09, 2024 7:28pm
https://revolugroup.com/news/revolugroup-announces-2.5m-cad-private-placement-investment-and-secures-usd-500-000-usd-loan/ cashless takeover northernman? indont think so 
Comment by Jaytee123 on Sep 10, 2024 2:30pm
This didn't age well
Comment by MrForthright on Sep 10, 2024 2:34pm
actually it proves how right I am. First Erik was going to pay $12 million to access the assets, then $7 million and now he has security on the assets for $500,000. Care to comment?
Comment by Jaytee123 on Sep 10, 2024 3:01pm
There's no security on any assets nor would the exchange allow it. The private placement will cover the loan and revenue will cover the interest.
Comment by MrForthright on Sep 10, 2024 3:35pm
Verbatim from NR: "This new investment, along with the secured loan, reinforces Revolugroup's financial position and demonstrates the company's commitment to executing its growth plans." Care to comment further?
Comment by Jaytee123 on Sep 10, 2024 3:56pm
Read the title of the news:  RevoluGROUP Announces $2.5M CAD Private Placement Investment and Secures USD $500,000 USD Loan your play on words is irrelevant, seek help for your obsession and stick to miners please 
Comment by MrForthright on Sep 10, 2024 4:29pm
Secured vs non secured isn't play on worlds: it is an absolutely fundamental distinction. If the company defaults on the loan meridien can get all of the assets in payment of the loan. 
Comment by Patty3 on Sep 10, 2024 4:16pm
RevoluGROUP Announces $2.5M CAD Private Placement Investment and Secures USD $500,000 USD Loan. As in they SECURED a loan.
Comment by Jaytee123 on Sep 10, 2024 4:17pm
Correct.  Only people who want to continually wish failure upon this company and its shareholders magically want to manipulate English.  
Comment by MrForthright on Sep 10, 2024 4:31pm
I am not manipulating English. I am pointing out to shareholders the risk associated with providing a guarantee for a tiny loan with a very short term. 
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