VANCOUVER, British Columbia, July 12, 2019 (GLOBE NEWSWIRE) -- CUV Ventures Corp. (TSX-V: CUV) (“the Company”) is pleased to announce an update. Further to the news release dated 2nd July 2019, the company has successfully increased the paid-up share capital of the wholly owned subsidiary RevoluPAY S.L. to 435,000 Euros (approx. CA$ 645,000) on 11th July 2019. Due to the summer holidays across Europe, the company had greater difficulty than expected in obtaining a notary appointment to effect said Central Bank recommended capital increase, however, the task is now completely concluded.
Current PSD2 License Petition Status
The company has now satisfied the aforementioned Central Bank recommendation pertaining to the RevoluPAY S.L subsidiary paid-up capital increase. Subsequently, in an email from Hogan Lovells lead counsel addressed to RevoluPAY S.L CEO, Alfredo Manresa, dated July 11th at 7.20PM CET, Hogan Lovells informed the company that the aforementioned final capital increase is now submitted to the Central Bank and, no additional paperwork is pending submission to the Central Bank. Hogan Lovells lead counsel further affirms that, in their opinion, the today updated submission should tentatively garner a final Central Bank reply between 20-40 days from today.
RevoluREALTY Syndication Partnership with Global Listings
As per the news release dated 2nd July 2019 concerning the upcoming Real Estate payments vertical RevoluREALTY, the company has elected U.S based Global Listings Inc. to power the upcoming platform. GlobalListings.com currently offers real-time property searches covering approximately +2.1 million active real estate listings in roughly 100 different countries. A global property listings Syndication contract was signed on July 9th 2019, between Mr. Marshall, Director of the company’s wholly owned Canadian subsidiary, RevoluVIP International Inc, and CEO of GlobalListings.com, Mr. Michael Gerrity. As previously stated, the company expects RevoluREALTY to be live on 15th August 2019.
Global Listings Inc. Founder and CEO Michael Gerrity said, “We are excited to be working with such an innovative Blockchain-powered fintech payments app like RevoluPAY and, elated to power the upcoming vertical RevoluREALTY. Companies like these, that leverage Blockchain technologies today, are truly building the global real estate industry giants of tomorrow. Given our own company’s significant international property listings database scale, we are glad to have our real estate listings used as anchor content on RevoluREALTY’s new website and payments app launching soon, on a global scale.”
Company CEO Steve Marshall and, Director of the subsidiary RevoluVIP International Inc, commented, “After concluding extensive research, it became obvious to the Company, that GlobalListings.com offers by far the most extensive international real estate listings. Furthermore, the extensive assistance their tech team offers partners is second to none. We are excited to launch our new RevoluREALTY vertical, powered in conjunction with GlobalListings.com and, we expect this new vertical to focus upon higher value financial transactions than those presently handled by our RevoluPAY app”.
RevoluVIP Travel Club New Destination
Shareholders were advised on 2nd July 2019 that ChileVIP would be launched within the coming days. As a result, the in-house IT team were able to successfully launch ChileVIP.com. Chile receives approximately 6.4 Million annual tourists. The Company intends to continue this brisk pace, to roll-out other country destination websites as rapidly as is technically possible.
The company had announced in the news release dated 29th May 2019 that an update concerning RevoluFIN would be provided in the month of June. Notwithstanding, certain unforeseen factors, including the involvement of certain advisors in Panama’s General Election campaign, allied to the recent July 1st change of Presidency, have invariably delayed the company’s best intents to provide shareholders with the promised update. RevoluFIN Inc. Panama and, its local advisors, are elated by the outcome of the election and, the victory of incoming president Laurentino Cortizo.
The Company’s flagship technology is RevoluPAY®, the Apple and Android multinational payment app. Built entirely in-house, RevoluPAY features proprietary, sector specific, technology of which, the resulting source code is the property of the Company. RevoluPAY’s built-in features include: Leisure payments, travel payments, retail and hospitality payments, remittance payments, real estate payments, pay-as-you-go phone top-ups, Utility Bill payments, etc. RevoluPAY is powered by blockchain protocols, and, is squarely aimed at the worldwide multi-billion dollar leisure sector and, + $595 billion family remittance market. RevoluPAY® is operated by the European wholly owned subsidiary RevoluPAY S.L located in Barcelona. RevoluPAY S.L operates under European E-money - Directive 2009/110/EC through a licensed electronic money institution or EDE Banking Licensed entity.
Link Sources Utilized In This News Release
GlobalListings.com - https://www.globallistings.com/
Global Listings Property and Country Data - https://www.globallistings.com/property-search
World Bank remittance Data - http://www.worldbank.org/en/topic/migrationremittancesdiasporaissues/brief/migration-remittances-data
Chile annual Tourism - https://santiagotimes.cl/2018/01/10/chile-received-record-number-of-tourists-in-2017/
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.
CUV VENTURES CORP.
For further information contact:
CUV Ventures Corp.
Telephone: (604) 685-6465
Toll Free: 800-567-8181
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.