CUV Ventures Corp. Provides Corporate Update

Monday, 21. October 2019 14:00

VANCOUVER, British Columbia, Oct. 21, 2019 (GLOBE NEWSWIRE) -- CUV Ventures Corp. (TSX-V: CUV) (“the Company”) is pleased to announce an update.

  • RevoluMED New Vertical linked to RevoluPAY® e-Wallet
  • RevoluEGAME New Vertical linked to RevoluPAY® e-Wallet
  • Top 40 World Bank Reschedules Compliance Visit
  • PSD2 Bank License Update
  • RevoluVIP Launches 32 New Country Websites

RevoluMED Development Commences

The company has commenced development of its upcoming revenue vertical RevoluMED. RevoluMED will leverage the RevoluPAY® proprietary Apple and Android multinational payment App for: Healthcare Appointment Scheduling, RX Payment, Pharmacy Payments, Medical Insurance, Insurance COPAY and, other financial aspects related to the Healthcare industry as whole. Healthcare is a multi-trillion-dollar worldwide industry and one that the company has been intently studying for quite some time.

RevoluEGAME Development Commences

The company has begun development of its upcoming revenue vertical RevoluEGAME. RevoluEGAME will leverage the RevoluPAY® proprietary Apple and Android multinational payment App in the rapidly expanding sector of Online Video Gaming, also known as Egaming. According to NewZoo, a prominent Egaming publication, the Egaming sector grossed $137.9 Billion USD in 2018, a number that is projected to rise sharply as more players switch to Online gaming over the legacy DVD based consoles. The company has selected a content partner and is now in a position to offer both entire games and, play credits for +3000 of the most popular games worldwide. As with all revenue verticals, the company’s banking authorized proprietary RevoluPAY® App will hold center stage as the only method by which gamers can interact financially with RevoluEGAME. The platforms public launch is expected in early Q1 2020.

Top 40 World Bank Reschedules Compliance Visit

Shareholders were advised on September 25th 2019 that the Company had received a written confirmation from the said bank concerning a final compliance visit to RevoluPAY headquarters that was to ostensibly take place during the final week of September. The company then received a second communication indicating that the visit would occur between the 14th and 18th of October. The company has recently received a new written communication from the international bank advising that the compliance visit has now been definitively rescheduled for the 4th of November. On June 29th, 2018, shareholders were informed that RevoluPAY S.L. had signed an NDA with Top 40 World Banking Institution for remittance disbursements. The said bank operates extensively in 16 Central/South American Countries and, the Caribbean. After signing the NDA, on the 17th December 2018, an executive from the International Bank subsequently made a personal visit to the RevoluPAY headquarters in Barcelona. Should the final compliance visit result positive, the outcome would engender the final signing of the bilateral agreement between the International Bank and, RevoluPAY S.L., for the immediate commencement of Remittance Flows through the RevoluPAY App to all of the aforementioned 16 countries.

PSD2 Bank License Update

On the 15th October 2019, both RevoluPAY S.L CEO, Alfredo Manresa and, corporate legal counsel Hogan Lovells, received a written communication directly from the Central Bank requesting a further 4 (four) supplementary documents. The company immediately facilitated 3 of the 4 documents and, will submit the remaining requisite on Monday 21st October 2019. The company remains confident a PSD2 license will be granted.

RevoluVIP Launches 32 New Destinations

Further to the news release dated September 25th 2019, the company is pleased to announce the successful launch of the following 32 RevoluVIP destination websites:

Egypt, Dubai, Abu Dhabi, Emirates, Israel, Qatar, Saudi Arabia, Turkey, China, India, Japan, Hong Kong, Mongolia, Phillippines, Singapore, Sri Lanka, South Korea, Taiwan, Thailand, Vietnam, Australia, New Zealand, Fiji, Paris, London, Puerto Banus, Alicante, Pamplona, St Tropez, Cairo, World Hotels.

All active RevoluVIP country and destination websites are all featured on each website in the form of an almanac, to promote cross-use of destinations: Example: https:/americavip.com/pages/info/sites

The company expects to publicly release the final remaining 6 VIP Collection websites before Friday 25th October, having concluded the complete roll-out ahead of schedule.

The company has received heightened interest in the members only RevoluVIP Travel Club since it began marketing the platform.

RevoluVIP Presentation.

About RevoluPAY®

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, Egaming, Healthcare, 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.

RevoluPAY Presentation

Links utilized in this news release

New Zoo Article - https://newzoo.com/insights/articles/global-games-market-reaches-137-9-billion-in-2018-mobile-games-take-half/  

World Bank remittance Date - http://www.worldbank.org/en/topic/migrationremittancesdiasporaissues/brief/migration-remittances-data

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 150,382,712 shares issued and outstanding.

CUV VENTURES CORP.

“Steve Marshall”
______________________
STEVE MARSHALL
CEO

For further information contact:
Don Mosher
CUV Ventures Corp.
Telephone: (604) 685-6465
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: 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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