CUV Ventures Corp. (TSX-V:
CUV
) (the “Company”) is pleased to announce that
it has begun operations of the wholly owned subsidiary RevoluFIN
Inc., from its new offices in the Marbella Financial District in
the Republic of Panama. RevoluFIN Inc. has now complied with
Panamanian legislation and received RUK and, DGI approval, for
commencement of commercial activities. Panamanian Citizen and,
Certified Accountant, Jorge Alvarado begins advising RevoluFIN Inc.
QR Code based sales through RevoluPAY® activated across +400 of the
company’s 614 websites. IMTC contact and multinational remittance
purveyor in 80 countries begins negotiations with wholly owned
subsidiary RevoluPAY S.L. Negotiations with top 40 World Bank
progresses to final contract analysis phase.
About RevoluFIN
Inc.
RevoluFIN Inc. is a wholly owned subsidiary of
CUV Ventures initially presented to shareholders on March 8th 2018
and, subsequent launch of the RevoluFIN web based platform on March
21st 2018. CUV signed a definitive agreement with Vesilen
Investments to facilitate an initial seed capitalization of 40
million Euros (approx 60 million CAD) to provide, both private and
corporate, short to medium term loans and factoring for
transactions. On May 22nd 2018, the company concluded the 100%
acquisition of the mercantile entity now named RevoluFIN inc.,
domiciled in the Republic of Panama. On November 23rd 2018, the
Panamanian wholly owned subsidiary begun operations from its new
offices in Marbella Financial District of Panama City. The
Panamanian subsidiary will now be directly involved in certain
aspects of the RevoluFIN platform, guaranteeing through CUV
Subsidiaries and 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, furthermore, 60 of these banks are located
within 4 blocks of the new RevoluFIN offices in Panama. The
RevoluFIN finance platform intends to provide payment facilities
for commercial Letter of Credit (LC) holders, and short-term
financing requirements. Secondly, the platform will focus upon
stimulating the nascent self-employed economies around the world,
in travel related services, sold through the company's and partner
websites, giving entrepreneurs access to much needed capital, while
securitizing loans through pre-booking retentions in synergy with
RevoluPAY and RevoluVIP. Through RevoluFIN, CUV Ventures Corp hopes
to assemble numerous deals it has identified over the past 14
months, which could directly impact the company's revenues,
especially in the; Hospitality, Travel & Media sectors.
Additionally, the RevoluFIN platform hopes to enable third party
financiers to directly finance outstanding secured receivables,
while obtaining above market interest returns of between 8 and
9.5%. RevoluFIN should appeal to small and medium-sized enterprises
(SMEs) looking for an improved way of working capital financing by
selling their outstanding means of payment collection from sales in
international markets (typically LC and Secured Drafts) by
transferring the credit rights to RevoluFIN and, its financiers,
while at the same time handling daily consumer transactions through
the company’s RevoluPAY e-wallet. RevoluFIN Inc Panama will also be
involved in Panamanian tourism promotion through the company’s
vertical RevoluVIP, including the potential leased use of a network
of +50 websites currently promoting the Central American
nation.
Jorge Alvarado Joins RevoluFIN
Advisory Board
CUV Ventures is delighted to have a qualified
CPA and, Panamanian national, Jorge Alvarado, join its RevoluFIN
advisory board. Jorge Alvarado, CPA, has more than twenty-five
years’ experience in the upper echelons of Panamanian accounting.
Mr Alvarado is an Authorized Public Accountant and, has worked
extensively for both private multinational companies and, as an
accountant for the government in the Republic of Panama. Mr.
Alvarado worked as chief Accountant for the Panamena de Motores
Company, S.A., the national wholly owned Nissan importer. Further,
Mr. Alvarado worked as fiscal auditor for the Municipality of
Panama City. Jorge currently provides accounting and finance
consulting services to several companies in Panama City.
RevoluPAY® QR Code payment
activated
The company’s tech team have concluded and
deployed a RevoluPAY® API (application program interface) across an
initial group of +400 of the 614 proprietary retail websites. This
API allows payment, via QR code, using the proprietary iOS and
Android RevoluPAY® app, on any proprietary website, third-party
website or, mobile app, worldwide. The company expects this API
payment mechanism to be deployed across numerous third-party
platforms, including the upcoming potential DA with NUKONDO®.
Furthermore, those parties who request financing from RevoluFIN
will be urged to allocate all or part of their day-to-day retail
operations through RevoluPAY®, thus adding a layer of secondary
loan securitization to the RevoluFIN factoring platform.
IMTC Conference Miami Generates Notable
Lead
After the initial encounter with CEO Steve
Marshall at the IMTC conference in Miami, CUV company director and,
CEO of the wholly owned subsidiary RevoluPAY S.L, Alfredo Manresa,
has begun dialogue with an entity that is a major purveyor of
remittances in +80 countries. These discussions are progressing
very positively, both parties having begun the initial phase of due
diligence. Shareholders will be closely informed of any
advancements in this new and interesting synergy.
Negotiations with Top 40 World
Bank
On June 29th 2018, the company signed a binding
NDA with a Top 40 ranked world bank to study the deployment of
RevoluPAY for remittance deliveries in 16 South/Central American
and Caribbean nations. These negotiations continue to progress
favorably and, the company is happy to advise that it is studying
an eventual contract at this time. Shareholders will be closely
informed of any advancements if or when they occur.
Strategy of CUV Ventures
Revenue Verticals
As should now be apparent, CUV is deploying
numerous revenue verticals intrinsically linked to its proprietary,
banking licensed, RevoluPAY® app. As the central hub of these
verticals, it is the mechanism by which the company will generate
revenue through a closed loop environment. For instance, RevoluFIN
lenders, especially those who generate revenue through retail
activities, will be urged to permit RevoluPAY® as a payment
mechanism for their products or services, thus providing RevoluFIN
with an added layer of securitization via the revenue flowing
through the RevoluPAY app. Likewise, RevoluCHARGE, the company’s
proprietary worldwide phone top-up service, which has already begun
generating revenue, exclusively allows said top-ups to be sent via
RevoluPAY®. Meanwhile, RevoluVIP, the upcoming travel Club, further
requires the RevoluPAY® app for any financial interaction with the
Clubs 613 GDS powered travel websites. This centralized closed loop
revenue flow is thus, exclusively through CUV’s different divisions
and subsidiaries. Essentially, the mantra at CUV is to encapsulate
its revenue streams into an entirely closed system which favors
specific divisional subsidiaries, depending upon their relevant
licensed activity. Further, any third-party synergy, such as the
proposed NUKONDO activity, or others, will invariably impose
RevoluPAY® as settlement medium by which any and all payments must
be conducted. The company feels that a closed loop system of this
nature is the way of the future, where cross-use of retail
platforms allow an accumulation of users, who are later exposed to
other valuable services, despite having entered the network to
conclude a single transaction. An example would be an individual
who merely recharges a family members mobile phone, who later
discovers that RevoluPAY® will also allow remittance sending and,
then that RevoluVIP will allow him/her to make the annual trip to
see family. Further, through third party arrangements, possibly,
supermarkets or stores in the user’s hometown may now also accept
RevoluPAY. The company firmly believes that a gradual but,
persistent, roll out of this nature should foster increased user
adoption and cross-use transactions within the varied network
services offered under the cited or, future, “Revolu”
verticals.
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, Mobile phone top-ups, Invoice factoring,
Blockchain Systems, and Fintech app 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 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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