RevoluGROUP Canada Inc. Reports It Has Negotiated a $12.47 Million Private Placement Led by European Financially Regulated HBDIG Technologies GmbH
April 26 2023 - 2:16PM
RevoluGROUP Canada Inc.
(TSX-V:
REVO),
(Frankfurt: IJA2),
(Munich: A2PU92), (the "Company")
The Company reports today it has negotiated a
non-brokered private placement of up to 43,000,000 units at a price
of $0.29 each, to raise gross proceeds of up to $12,470,000 from
strategic investor HBDIG Technologies GmbH, a company incorporated
in Vienna, Austria, and regulated by the Financial Markets
Authority of Austria (FMA). Each unit will consist of one common
share and one warrant (each, a "Warrant") exercisable to purchase
one additional common share at a price of $0.40 each for a period
of one (1) year from the date of issuance.
The private placement is subject to TSX Venture
Exchange approval, and all securities are subject to a
four-month-and-one-day hold period. Finder fees may be payable in a
combination of cash and/or warrants to UAE Based Financial
Consultancy firm Resina Consulting FZ LLC headquartered in
Fujairah, UAE in connection with the private placement, all in
accordance with the policies of the TSX Venture Exchange.
Key Private Placement
Allocations
Further to the news release dated November 25th,
2022, the Company intends to partially utilize the private
placement proceeds to accomplish the Mutual Business Development
Strategy by way of the comprehensive 2-year plan to initiate on the
day of the closing of the present private placement. The Mutual
Business Development Strategy agreement also grants HBDIG
Technologies GmbH the provision of one board member. Further
Development Strategy also seeks to initiate the speedy expansion of
numerous financial sectors in which the Company already has an
operational presence, including centralized compliance fulfillment
of KYC ("Know Your Customer") and AML ("Anti Money Laundering") for
all adjoined users. The Company intends to utilize the remaining
net proceeds from the private placement for general operating
expenses and working capital.
Equity Investment Recap
Today's news release is further to and
updates all the Company's prior news releases regarding the quoted
"Equity Investment" and "Investment Suitors" including, but not
limited to, the 5th of January, 2023, MOU ("Memorandum of
Understanding") and subsequent six addendums all in connection with
the planned "share equity acquisition," up to and including the
news release dated April 24, 2023.
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,
Gaming Credits, Leisure payments, Travel Payments, etc. RevoluPAY
is aimed squarely at the worldwide multi-billion dollar Open
Banking sector, cross-border forex payments, 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 licensed United States MSB, Canadian FINTRAC, and
European PSD2 payment institution 6900 under the auspices of E.U.
Directive 2015/2366 with E.U. 27 Country Passporting and official
issuer of Visa® Cards and
authorized Visa® Affiliate Member.
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,
Cross-Border Forex Payments, 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 193,585,376
shares issued and outstanding.
RevoluGROUP Canada,
Inc.
"Steve Marshall" ______________________STEVE
MARSHALLCEO
For further information, contact:RevoluGROUP
Canada Inc.Telephone: (604) 332 5355Email: 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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