RevoluGROUP Canada Inc. (TSX-V:
REVO),
(Frankfurt: IJA2) (the "Company")
is pleased to announce that RevoluPAY EP S.L. signed a Definitive
Agreement ("DA") on the 14th of June 2021 with PROSEGUR CASH S.A.
subsidiary GELT CASH TRANSFER S.L.U. Under the agreement terms, all
underlying gross cash flows are to be processed through RevoluPAY
via the Company's PSD2 banking license. The Company initially
informed shareholders of this impending DA on the 1st of June 2021.
The DA sees RevoluPAY launch what the Company expects to be the
first of many white-label partnerships of its RevoluSEND remittance
delivery financial technology. As with all such licensing, the
RevoluPAY PSD2 banking license and superior KYC and AML protections
sustain all financial cashflows. This first white-label of
RevoluSEND technology permits remittance deliveries into Mexico,
Brazil, Argentina, Colombia, Chile, Dominican Republic, Bolivia,
Ecuador, Guatemala, Honduras, Nicaragua, Peru, Paraguay, Venezuela,
and Uruguay. While this nascent partnership covers only 15
countries, the Company can offer this and other future partners
such technology for expanded remittance deliveries to over 110
countries.
GELT CASH TRANSFER S.L.U.
GELT CASH TRANSFER S.L.U. was founded in 2019 as
a wholly-owned subsidiary of PROSEGUR CASH S.A. to initially pursue
a focus in the wholesale interbank family remittance sector. GELT
and its parent Companies will expand into providing remittance
services to retail consumers via the RevoluPAY rebranded RevoluSEND
proprietary technology deployed under white-label through today's
DA.
About Parent PROSEGUR CASH
S.A.
Prosegur Cash is a leading global company listed
on the Madrid Stock Exchange (Symbol: CASH) with a current market
capitalization of approximately 1.42B Euros (approx. 2.09B $CA).
Prosegur Cash provides logistics and cash management services and
outsourcing services to financial institutions, businesses,
government agencies and central banks, money factories, jewelers,
and other business activities around the world. The Company has a
team of more than 39,000 employees (in addition to 16,000 employees
through joint ventures in India and South Africa), a fleet of
approximately 9,000 vehicles between armored vehicles and light
vehicles, and more than 550 installations between bases and other
operational centers. Prosegur was founded in 1976 by Herberto Gut.
It began as a private security company, focusing on power
plants, industrial facilities, and shopping centers. In 1987, it
became the first security company to list on the Madrid Stock
Exchange and remains the largest Company in the private security
industry in Spain. PROSEGUR operates in 26 countries across four
continents. PROSEGUR's entry into new markets and subsequent
expansion has often been through acquisition. Its operations
grew initially through Spain, Portugal, and Latin America but have
since expanded to other parts of Europe and Asia. In December 2013,
PROSEGUR entered the Australian market by acquiring the second
largest cash in transit business in the country, the Australian
division of Chubb Security, for A$145 million (€95
million). Prosegur holds a market-leading position in many
countries in which it operates, including Spain, Brazil, and
Germany.
Company CEO Steve Marshall commented: "Today, a
key market player in the finance sector has licensed RevoluSEND.
Yet another example for our shareholders that our state-of-the-art
technology is embraced and preferred by companies of great
magnitude, exemplifying our revenue verticals' strength and
desirability. A similar outcome is soon approaching for our crypto
technology RevoluEX. We continue to leverage our PSD2 banking
license and proprietary technology through these novel partnerships
with companies that maintain vast user bases. We expect this first
foray into the white-labelling of our RevoluSEND platform to be the
start of many such partnerships, as the industry switches away from
archaic bricks and mortar business models to securer, lower cost,
more convenient web and mobile app technologies, such as those
designed and owned by RevoluPAY."
Links Used in this News
Release.
Madrid Stock Exchange – Symbol: CASH https://shortly.cc/SN6ug
PROSEGUR CASH S.A. – https://www.prosegurcash.com/enRevoluSEND -
https://revolusend.com/
About RevoluPAY®
The Company's flagship Neobanking technology is
RevoluPAY®, the Apple and Android multinational payment app.
Conceived entirely in-house, RevoluPAY features proprietary,
sector-specific technology of which the resulting source code is
the Company's intellectual property. RevoluPAY's built-in features
include Remittance Payments, Forex, Crypto-to-fiat exchange, Retail
and Hospitality payments, Real Estate Payments, pay-as-you-go phone
top-ups, Gift Cards & Online Credits, Utility Bill payments,
Leisure payments, Travel Payments, etc. RevoluPAY employs
blockchain protocols and is squarely aimed at the worldwide
multi-billion dollar Open Banking sector and + $595 billion family
remittance market. RevoluPAY® is operated by the European
wholly-owned subsidiary RevoluPAY EP S.L situated in Barcelona.
RevoluPAY is a dual-licensed Canadian FINTRAC and European PSD2
payment institution 6900 under the auspices of E.U. Directive
2015/2366 with EU Passporting. RevoluGROUP Canada Inc. controls
five wholly-owned subsidiaries on four continents.
About RevoluGROUP
Canada Inc.:
RevoluGROUP Canada Inc. is a multi-asset,
multidivisional publicly traded Canadian Company deploying advanced
technologies in; Banking, Mobile Apps, Money Remittance, Mobile
Phone Top-Ups, EGaming, Healthcare Payments, Esports, Invoice
factoring, Online Travel, Vacation Resort, Blockchain Systems, and
Fintech app sectors. Click here to read more.
For further information on RevoluGROUP Canada
Inc. (TSX-V: REVO), visit the Company's website at
www.RevoluGROUP.com. The Company has approximately 175,180,592
shares issued and outstanding.
RevoluGROUP Canada, Inc.
"Steve Marshall" ______________________STEVE
MARSHALLCEO
For further information, contact:RevoluGROUP
Canada Inc.Telephone: (604) 332 5355Facsimile: (604) 687 3119Email:
info@revolugroup.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.
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