VANCOUVER, British Columbia, July 02, 2019 (GLOBE NEWSWIRE) -- CUV Ventures Corp. (TSX-V: CUV) (“the Company”) is pleased to provide a corporate update. Further to the communication between the Central Bank, Hogan Lovells and, RevoluPAY S.L. CEO Alfredo Manresa, as per the news release dated 21st June 2019, the Company received a recommendation from the Central Bank to further increase the paid-up share capital from the 15th February 2019 previously approved 250,000 Euros increase, to 435,000 Euros (approx. CA$ 645,000). Consequently, the Company’s board members unanimously agreed on June 30th 2019 to fulfil this recommendation and, immediately increase the paid-up share capital of the wholly owned subsidiary RevoluPAY S.L. to the proposed amount. The Company plans to fulfil this request during the week of 1st to 5th of July and, submit the mercantile registry approved capital increase to the Central Bank forthwith.
RevolUTILITY Launched on Schedule
The Company is pleased to confirm that, as per the news release dated 29th May 2019 the proprietary Vertical RevolUTILITY was launched on schedule on June 28th 2019. Over the weekend, between launch and the writing of this news release, numerous consumer purchases have proceeded satisfactorily, including: Amazon Gift Cards and, pre-paid Vouchers for Harvey’s Canada, The Home Depot and Boston Pizza.
RevoluVIP Travel Club New Destinations
Shareholders were advised on June 21st 2019 that several new country websites would be launched within the coming days. As a result, the in-house IT team were able to successfully launch: Mexico, Panama, Nicaragua, Guatemala, Cancun, Argentina, Venezuela and Brazil before the issuance of today’s news release. Management have been further advised that upcoming destination in the coming days includes Chile. The Company intends to continue this brisk pace, to roll-out other country destination websites as rapidly as is technically possible.
RevoluREALTY Development Commences
As per the news release dated 20th February 2019 concerning the upcoming Real Estate payments vertical, the Company has entered into an agreement with a Canadian corporation controlled by specialist programmer Mr. Erik Lindquist on June 26th 2019 for the complete development of RevoluREALTY Real Estate payments platform. The 4-phase agreement includes a phase 1 launch with property listings in numerous Canadian provinces and, various States within the United States. The Company expects RevoluREALTY Phase 1 to be completed by August 15th 2019.
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.
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 144,933,000 shares issued and outstanding.
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.