CUV Ventures Corp. (TSX-V:CUV) (the “Company”) is
pleased to announce that it has completed the acquisition of a
Licensed, and operating (Since 2011), Panamanian Limited Liability
company, which has become a wholly owned subsidiary. The company
has obtained the approval from Panamanian authorities to rename
this entity RevoluFIN Inc. with the accompanying approved
commercial name, RevoluPAY®. The acquired entity has an existing
corporate banking relationship with Tower Bank Panama. TowerBank
was founded in 1971 and has a Fitch rating of A and Equilibrium
rating of A+.
RevoluFIN Inc Panama
The Panamanian subsidiary will be involved in
certain aspects of the RevoluFIN 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. RevoluFIN Inc Panama will also be involved in Panamanian
tourism promotion, including the potential leased use of a network
of +50 websites currently promoting the Central American
nation.
RevoluPAY® Europe
The company anticipates that the wholly owned
subsidiary, RevoluPAY® S.L, will receive final approval from the
Spanish mercantile authorities to begin operations, on or before,
Monday 28th May. Shortly thereafter, the company hopes to conclude
its agreement with the European EDE Banking licensed entity with
which it has successfully negotiated favorable terms for RevoluPAY®
digital wallet load capability. The proposed partner holds the
required European banking license, permitting the projected June
2018 launch of RevoluPAY®. In parallel with the above roll-out
chronology, the wholly owned subsidiary intends to seek a
proprietary European EDE Banking license.
RevoluPAY® Apple and Android
App
UXS Mobile has provided the company with a
releasable version of both the end user and merchant apps. These
apps have been tested extensively and have garnered excellent
response times, meeting or exceeding all security requirements.
Management of Crypto Liquidity has received APK working versions of
the app, in order to properly structure the integration of their
patent pending technology. Both the company and Crypto Liquidity
are working towards a definitive agreement concerning the licensing
and synergized roll-out of the public version of the app, expected
in June 2018.
RevoluPAY® Licensing
Agreements
As previously reported to shareholders, the
company’s equity partner Duales Inc is a FINTRAC certified
remittance operator, capable of handling disbursements in certain
Caribbean markets. Further, the company is in the final stages of
negotiation with a licensed partner in the Dominican Republic for
disbursements in that nation. The current remittance market in the
DR is approximately $5.6 Billion USD annually and, allied to other
Caribbean markets included in the initial rollout, the total
initial RevoluPAY® market is expected to be approximately $9
Billion USD. The company then expects to continue its progress into
the Mexican market which is approximately $26.8 Billion USD, before
moving onto further world markets. The RevoluPAY® app will
concurrently empower entrepreneurs, primarily in the travel sector,
with a more convenient way of handling receivables.
RevoluPAY® Pre-Launch Meeting
Miami
The company is pleased to inform shareholders
that equity partners and key management met in Miami, Florida,
between the 14th and 17th of May 2018. Miami, Florida was chosen as
the venue, due to it being the headquarters of: Havana Consulting
Group, IBTO Travel and Third Circle Publishing, companies in which
CUV Ventures Corp holds strategic equity positions. CUV Management
and, the respective CEOs of the aforementioned partners, met for an
intensive three-day period to finalize the soon anticipated
rollout, in-house marketing and, logistics, of the upcoming
RevoluPAY® launch. Management is elated with the meetings and
proposed marketing strategy. Shareholders are reminded that the
company also owns 432 websites, which collectively accrue
approximately 35 million annual page views. These websites and
underlying web traffic will be the cornerstone of in-house
marketing, allied to the impressive marketing prowess of its equity
partners and, the habitual worldwide media the company has always
received.
Teide HPC Supercomputer Data
Center
Shareholders were informed of the company’s
interest in adopting a centralized data center on April 27th 2018,
in which, all of its digital technology can be securely hosted.
Such an advent would bring the company’s data centers and
collocated servers, currently located in disparate locations and
countries, into one centralized location, promoting both enhanced
economy and greater control. As a subsidiary benefit, due to the
disclosed computing power of the anticipated supercomputer and, its
unique solar powered configuration, ancillary revenue is planned,
through using the data center for crypto mining purposes and, as a
central data nucleus for the, leisure industry focused, CCU Coin
CryptoToken. The company is pleased to inform shareholders that
Director Bernard Lonis, who has been responsible for these
negotiations, received a formal offer on May 02nd 2018 to lease the
said data center facilities. The company is in the process of
studying this proposal in association with its in-house network
specialists and, is expected to make a decision on this dual,
hosting and mining opportunity, in the coming weeks.
RevoluPAY® Trade and Image mark Granted
in the European Union
The company is pleased to announce that both
Image and Trademark petitions for RevoluPAY®, covering all European
member states, was granted on 9th May 2018. The protected trademark
and, its associated use, are fundamental to the licensing
agreements and upcoming country based roll-out.
Panamchain Fintech and Blockchain
Conference
On Saturday, May 5th and Sunday, May 6th,
Company Director Alfredo Manresa, Panamanian Legal Counsel, Paula
Sarmiento and Spanish Legal Counsel, Rocio Jimenez, attended the
notable Panamchain Fintech and Blockchain Conference, Panama City,
Republic of Panama. The significant international turnout for the
event, allied to the impressive caliber of Banking and FinTech
attendees, promises to aid the company with its South American
rollout of RevoluPAY® and RevoluFIN. Several potential country
based licensing partner candidates were met and, the company
expects to offer an update on these candidates and developments in
due course.
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, Crypto Mining, Blockchain
Systems, and Cryptotoken sectors.
Our flagship technology is RevoluPAY®, the Apple
and Android multinational remittance app, powered by blockchain
protocols, and aimed at the worldwide + $595 billion family
remittance market.
The ₡CU Coin Cryptotoken, allied to RevoluPAY®,
promises to be the coin of choice for remittance senders, travelers
and the hospitality industry. Its increasing adoption across
several spheres exemplifies its international perspective and
future value amongst users.
The company’s FinTech division continues to
expand into this rapidly emerging segment, in which it; manages,
operates and develops end-to-end digital platforms to monetize the
blockchain ecosystem across a broad spectrum of leisure related
industries, remittances and finance.
A diverse division of the company,
named Cuba Ventures, is involved in Caribbean Basin strategic
investments. Similar to the United States NASDAQ
listed Herzfeld Fund, the focus is to control noteworthy
assets related to the Caribbean Basin (including Cuba). The
division is comprised of numerous assets. A wholly owned
subsidiary Travelucion Media, is a duly licensed and bonded
online travel company, Amadeus GDS affiliated, digital
and print media powerhouse that specializes in travel marketing,
electronic reservations and online booking
solutions. Travelucion owns a vast portfolio of web
assets consisting of 432 Cuba-centric websites in up to 5 languages
which generate over 35 million page-views per year and direct
traffic to Travelucion’s online booking and e-commerce sites and
proprietary online booking systems, also customized for white label
deployment on third party booking websites for; Cayman Islands,
Dominican republic, Aruba, Bahamas, BVI, Belize, Antigua, Jamaica
and Cuba, offering bookings for hotels, private residences, car
rentals, tours, flights and a variety of other types of specialized
travel services.
In 2017, the company acquired equity in the
Florida, USA based, licensed and bonded travel
agency; International Business & Travel Opportunities, LLC
(IBTO), a Caribbean Basin focused travel facilitator operating
trips in the region (including licensed Cuba trips for
Americans).
In 2018, the company acquired equity in the
Florida, USA based, Third Circle Publishing LLC, publisher of the
esteemed and U.S circulated print and digital magazine Cuba
Trade Magazine. CUV Ventures Corp owns an interest in some
important print and digital media assets, reaching 10s of millions
of consumers globally.
In 2018, the company acquired equity in the
Toronto; Canada based, FINTRAC licensed, remittance company, Duales
Inc. as part of the RevoluPAY®® remittance app partner network.
In 2018, the company acquired equity in the
Miami, USA based, Business advisory/consultant think-tank Havana
Consulting Group, as part of the progressive acquisition of key
Cuba related but, non domiciled, businesses.
The Cuba Ventures division consulting team
harnesses over 80 years of combined advisor experience in
submitting and, obtaining approval, for joint ventures, joint
production agreements and import/export permits for foreign
enterprises. More recently the company has taken a royalty approach
for future agreements between third parties anxious to begin
comercial operations with Cuba and, the company’s Cuba Consulting
Unit.
Through this methodology, the Company is
gradually building a potentially valuable “future-ready”, non
Caribbean (Cuba) domiciled asset base while, in the interim,
securing revenue, growth and unique opportunities present in the
Caribbean Basin, with an emphasis on the $4 billion dollar and
rapidly growing Cuban travel and tourism industry, $3 billion
factoring and FinTech sector, $18.6 billion Caribbean
remittance industry and international corporate consulting for
Cuba’s estimated $86 Billion annual economy, which remains an
interesting opportunity and, one that this division strives to
dominate at every opportunity by acquiring assets that are neither
physically domiciled nor associated with entities located in
Republic of Cuba but, that have unparalleled future takeover
prospects, should the political climate improve.
For further information on CUV Ventures Corp.
(TSX-V:CUV) visit the Company’s website at www.cuvventures.com. The
Company has approximately 123,000,000 shares issued and
outstanding.
CUV VENTURES CORP.
STEVE
MARSHALL______________________________Steve MarshallCEO
For further information contact myself or:Nick
FindlerCUV Ventures Corp.Telephone: 604-639-3850Toll Free:
800-567-8181Facsimile: 604-687-3119Email: 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.
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