- Wholly owned subsidiary RevoluFIN Inc. approved by the Panamanian Authorities on September 24th
2018.
- RevoluPAY® S.L, subsidiary, receives publisher status from Apple and uploads proprietary RevoluPAY® app to
App Store for final testing.
- Hogan Lovells retained for obtention of proprietary European EP Banking License.
- BonSOFT contracted for complete turnkey development of RevoluCHARGE, worldwide phone, pay-as-you-go, top
up system. Release 1st November 2018.
- European RevoluPAY® cash-out disbursement trial concludes with success
VANCOUVR, British Columbia, Oct. 01, 2018 (GLOBE NEWSWIRE) -- CUV Ventures Corp.
(TSX-V: CUV) (the “Company”) is pleased to announce that it received final Panamanian government and, mercantile
registry approval, under resolution Nº 755000, dated September 24th 2018, for the wholly owned subsidiary RevoluFIN Inc.
RevoluPAY® S.L. receives publisher approval from Apple and, uploads RevoluPAY® app to App Store. BonSOFT elected for the complete
development and, turnkey delivery, of RevoluCHARGE, on or before 1st November 2018. Preeminent Fintech law firm Hogan
Lovells formally retained to solicit RevoluPAY® Proprietary European banking license. The company provides further RevoluPAY®
updates.
RevoluFIN Inc.
RevoluFIN obtained its initial seed capital guarantee of up to 40 million Euros (approx 61 million CAD) on the
8th of March 2018 from Vesilen Investments. The now fully approved Panamanian
subsidiary will be involved in certain aspects of the RevoluFIN lending platform, guaranteeing, through its banking partners, fiduciary and, other
services, to lending partners. Panama has the most modern and, successful, international banking center in Latin America, with more
than 85 banks from 35 countries. The company is in final negotiations with local officials to physically locate RevoluFIN inc. at
the Cuidad del Saber (City of Knowledge), which is especially suited to technology and finance companies. RevoluFIN has received
and studied numerous financing requests, which will be immediately approved in the very near future.
RevoluPAY® On iOS Apple
Wholly owned European subsidiary RevoluPAY® S.L received app publisher approval from Apple and, has uploaded the
RevoluPAY® iOS app to App Store for final approval. The final approval process is known to take, on average, between 1 and 7
days.
Hogan Lovells retained for European EP Banking License
Wholly owned subsidiary RevoluPAY® S.L. has retained acclaimed law firm Hogan Lovells on Sept 26th 2018 to prepare the; legal opinion, compliance and, formal
petition of the company’s proprietary EP banking license. The estimated time for the license to be granted is 3-5 months. Hogan
Lovells is recognized as a leader in European Fintech law. Until the proprietary license is awarded, the company’s proprietary
RevoluPAY® app operates under indefinite agreement with its current EDE Banking licensed partner.
RevoluPAY® European Cash-Out Disbursement Update
As stated in the news release dated 24th Sept 2018, the company successfully released version 1.0.8 of the proprietary
RevoluPAY® app, which incorporates a cash-out (disbursement) facility to any bank located in the European Union. RevoluPAY® users
have been able to add (load) money to the RevoluPAY® e-wallet since 31st July 2018 and, transfer these funds nationally
or, internationally, to other users with a RevoluPAY® e-wallet. From today, any user can instantaneously transfer part, or all, of
their e-wallet funds to a bank account, at any bank, within the EU. These trials have proved successful and will now go live.
RevoluPAY® Version 1.0.8 is the iteration that has been submitted to Apple, thus, the same functionality will be available on both
Android and iOS.
RevoluCHARGE Development & Launch
The company has chosen Spain based BonSOFT for the complete development and launch of RevoluCHARGE worldwide, on
or before 1st November 2018. The company’s upcoming RevoluCHARGE division, a branched vertical from RevoluPAY®, will
allow anyone in the world to send; minute, sms and, data credits, to family and friends internationally, with payments 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 complimentary service, in combination
with worldwide remittances and payments, through RevoluPAY®.
Alternative Worldwide Cash-Out Operability
Wholly owned subsidiary RevoluPAY® S.L is currently negotiating other forms of cash-out (disbursement) which
include but, are not limited to, an e-wallet linked prepaid Visa Card, permitting instantaneous transfer of funds to/from the users
RevoluPAY® e-wallet. The company has submitted its card design and, usability criteria, to the chosen card issuer. An eventual
international visa card would permit withdrawals from any ATM that accepts Visa worldwide, allied to POS payment at any location
that accepts Visa. This functionality will give an added layer of usability in those locations where NFC enabled POS devices and
ATMs, for which RevoluPAY® is already enabled, are not yet operational. A second alternative, currently under negotiation, is
cash-out via NFC and Non NFC enabled ATM´s directly from the app (card-less withdrawals). Under this system, at non NFC enabled
ATM´s, the user receives a unique code which, when entered into the ATM´s numeric keyboard, confirms the users presence and,
permits subsequent withdrawal of funds. Lastly, the company signed an NDA on June 29th 2018 and, continues to negotiate with a large multinational banking partner for 16
cash-out disbursement countries in; The Caribbean, South and Central America.
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.
