VANCOUVER, British Columbia, Aug. 13, 2018 (GLOBE NEWSWIRE) -- CUV Ventures Corp.
(TSX-V: CUV) (the “Company”) is pleased to announce that the wholly owned subsidiary,
RevoluPAY® S.L, has entered into a definitive agreement (“DA”) with Geneva, Switzerland based CY Talk S.A, for the RevoluCHARGE
worldwide mobile, pay-as-you-go top-ups, mobile plans and, mobile data credits, covering mobile phone users in 248 countries and
territories. Studies reveal that in order to remain in constant contact with loved ones back home, remittance senders also assist
family members with telecom services, such as phone top-ups and data plans, thus rendering RevoluCHARGE a necessary addition to the
Revolu suite of services. This additional, approximately $8 Billion USD global annual business, is a logical addition to RevoluPAY®, as this type of
service is regularly utilized by our target remittance sender market.
RevoluCHARGE Business Model
As a result of the definitive agreement (“DA”), the company’s RevoluCHARGE division will allow anyone in the
world to send minutes, sms and, data credits to family or friends internationally, exclusively through the company’s proprietary
payment app RevoluPAY® and a forthcoming “Powered by RevoluPAY®” autonomous RevoluCHARGE App. The company considers the
approximately $8 Billion USD annual mobile top-up market the perfect complementary service, in combination
with worldwide remittances and payments through RevoluPAY®.
The Revolu Suite of Services
With the proprietary RevoluPAY® Digital Wallet as the hub, the company is in the process of rolling out other
potentially revenue generating divisions to organically grow users while, at the same time, offering attractive synergetic services
that consumers consider collectively aligned to their everyday needs.
RevoluVIP – VIP Travel Club (Initial Launch Q3 2018)
RevolUTILITY – Worldwide Utility Bill Payments (Planned Launch Q1 2019)
RevoluPAY Merchant – Empower Small Business Owners (App is live – Rollout Q4 2018)
The company will continue to increment the Revolu Suite in a progressive manner, adding divisions and services
which empower its growing user base with appealing services they use on a daily basis but, are now available in the Revolu family,
via the same RevoluPAY® user friendly app they love and, in real-time.
RevoluPAY® Wallet Linked Physical RevoluCARD Visa or Mastercard
The company is currently in negotiations to offer a RevoluPAY® branded, Wallet App Linked, physical Visa or
Mastercard, to compliment the virtual card NFC empowered app. The plans are for the card to be directly linked to a users
RevoluPAY® account, allowing immediate prepaid top-ups to/from the card, in real time. The rationale behind this addition to
RevoluPAY® convenience is that NFC (Near Field Communication) POS devices are not entirely widespread in developing countries, with
the older swipe machines being more prevalent. By adding an associated physical Visa or Mastercard, the app user would be able to
utilize all types of POS devices plus, the abundant network of national ATMs to withdraw local currency. The company has submitted
two card designs and, will provide an update on the RevoluCARD, once it has approved one of the contracts presently under
analysis.
RevoluPAY® App Exits Sandbox After Android Live testing
On August 10th, the latest version 1.0.3 of the RevoluPAY® Consumer app successfully concluded live
testing and exited the Sandbox trials. During the trials, real worldwide users added money to their wallets and enacted real
transfers to other RevoluPAY® users in disparate locations, wallet-to-wallet. The company is now focusing upon wallet-to-bank
account transfers and hopes to have this facility live by month’s end. Further upcoming developments will include: country
licensees, cash-out collection points and, home remittance deliveries, in addition to specific banking partner cash-out
(disbursement) synergies. Additionally, programmers have concluded the bilateral API between the RevoluPAY App and equity owned
and, FINTRAC Licensed, Duales. Finalized integration and real-time operability is imminent.
Shareholders should note, the company has NOT yet marketed RevoluPAY® to its extensive client base, nor has it
connected RevoluPAY® as a payment mechanism on its popular proprietary +30 million annual page view websites or subsidiary owned
businesses. Full marketed rollout and RevoluPAY® as a payment option on owned web properties will occur when the upcoming IOS for
Apple version is imminently released.
Plaintiff Submits Voluntary Dismissal on Spurious 2017 Trademark Claim
On August 3rd 2017, the company advised that it had received a notice concerning legal action
regarding an alleged breach of the trademark from a Curacao based travel agency. Caribbean Travel Network, domiciled on the island
of Curacao in the Caribbean, filed a complaint alleging use of word mark violation in Canada. At the time, the board deemed the
claim without merit and retained the Vancouver-based law firm Clark Wilson. On August 7th 2018, the plaintiff submitted
a voluntary dismissal to the court, ending the proceedings.
Mr. Mergen Chuluun And CUV Ventures End Advisory Role
On June 19th 2018 the company announced the addition of Mr. Chuluun to its advisory board. Both
parties have decided not to proceed further with this function and, the company wishes Mr. Chuluun well for the future.
CUV Ventures Grants & Amends Stocks Options
Further its news release dated January 18, 2018 and as permitted by TSXV Policy 4.4 and the Company’s 10%
rolling stock option plan, the Company has: (1) granted to certain Insiders options exercisable to purchase an aggregate of
1,250,000 common shares of the Company at an exercise price of $0.10 per share for 5 years expiring August 13th, 2023;
and (2) amended options granted January 18, 2018 to certain non-Insiders and exercisable to purchase an aggregate of 1,300,000
common shares of the Company, by reducing the exercise price to $0.10 per share (from $0.27 per share).
About CUV Ventures Corp.:
CUV Ventures Corp. is a multi-asset, multidivisional publicly traded Canadian company deploying advanced
technologies in the Online Travel, Vacation Resort, Mobile Apps, Money Remittance, Invoice factoring, Blockchain Systems, and
Cryptotoken sectors.
Our flagship technology is RevoluPAY®, the Apple and Android multinational leisure payments and remittance app,
powered by blockchain protocols, and aimed at the worldwide + $595 billion family remittance market. Click here to read more.
For further information on CUV Ventures Corp. (TSX-V: CUV) visit the Company’s website at www.cuvventures.com. The Company has approximately 123,200,000 shares issued and
outstanding.
CUV VENTURES CORP.
STEVE MARSHALL
______________________________
Steve Marshall
CEO
For further information contact myself or:
Nick Findler
CUV Ventures Corp.
Telephone: 604-639-3850
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@cuvventures.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.
