RevoluGROUP Canada Inc. Investors Recap & Shareholder Update:
2 May 2024: CEO Resigns – RevoluGROUP's CEO steps down, setting off a chain of destabilizing events for the company.
6 May 2024: Announces $1M Private Placement (Fails) – The company announces plans for a $1 million private placement, a fundraising initiative that ultimately fails, adding to investor concerns.
18 June 2024: President & Chairman Resigns – Another blow to leadership stability, with President and Chairman resigning, leaving significant gaps in the company's executive team.
19 June 2024: Announces Sale of loss-making RevoluPAY EU Bank License (Fails) – Following leadership changes, the company attempts to sell its RevoluPAY EU Bank license. This transaction, however, does not succeed.
5 July 2024: Announces $7M Private Placement (Fails) – RevoluGROUP announces a larger $7 million private placement, which, like the earlier attempt, ultimately fails to raise any money.
Mid-July 2024: Enters Negotiations with Meridien Holdings – The company enters negotiations with Meridien Holdings, a mysterious firm from an unknown jurisdiction. The specifics of this company remain unclear, adding to the uncertainty.
26 July 2024: Announces (Again) $7M Private Placement (Fails) – Despite the previous failure, the company reattempts the $7 million private placement, but once again, it does not come to fruition.
14 August 2024: Entire Remaining Board of Directors Resigns – In a drastic turn of events, the entire board of directors resigns.
15 August 2024: Ceases News Wire Distribution of Corporate News – RevoluGROUP halts the distribution of its corporate news via traditional news wire services, raising transparency concerns.
9 September 2024: Announces $2.5M Private Placement (Still Pending) – The company announces another private placement, this time for $2.5 million, but this remains pending with no resolution.
10 September 2024: Ceases Publication of Corporate News on Website – RevoluGROUP discontinues publishing corporate news on its website, further reducing access to key information for shareholders and the public.
27 September 2024: CFO Resigns – Following a mass exodus of leadership earlier in the year, the company's CFO resigns, leaving critical financial functions in question.
28 September 2024: No Canadian Citizens on Board of Directors – As of this date, the company no longer has any Canadian citizens serving on its board, raising questions about its governance and national ties.
1 October 2024: Violates Securities Regulations - No Annual Financial Statements – RevoluGROUP fails to release its annual financial statements, in violation of securities regulations, further deteriorating investor confidence.
2 October 2024: BC Securities Commission - Cease Trade Order – The British Columbia Securities Commission issues a management cease trade order against the resigned CFO, Simon Tso, and CEO, Erik Aaron Lara Riveros.
To be continued...