CUV Ventures Corp. (TSX-V:
CUV
) (the “Company”) is pleased to announce that
the wholly owned subsidiary, RevoluPAY® S.L, has entered into a
definitive agreement (“DA”) with Geneva, Switzerland based CY Talk
S.A, for the RevoluCHARGE worldwide mobile, pay-as-you-go top-ups,
mobile plans and, mobile data credits, covering mobile phone users
in 248 countries and territories. Studies reveal that in order to
remain in constant contact with loved ones back home, remittance
senders also assist family members with telecom services, such as
phone top-ups and data plans, thus rendering RevoluCHARGE a
necessary addition to the Revolu suite of services. This
additional, approximately $8 Billion USD global annual business, is
a logical addition to RevoluPAY®, as this type of service is
regularly utilized by our target remittance sender market.
RevoluCHARGE Business Model
As a result of the definitive agreement (“DA”),
the company’s RevoluCHARGE division will allow anyone in the world
to send minutes, sms and, data credits to family or friends
internationally, exclusively through the company’s proprietary
payment app RevoluPAY® and a forthcoming “Powered by RevoluPAY®”
autonomous RevoluCHARGE App. The company considers the
approximately $8 Billion USD annual mobile top-up market the
perfect complementary service, in combination with worldwide
remittances and payments through RevoluPAY®.
The Revolu Suite of
Services
With the proprietary RevoluPAY® Digital Wallet
as the hub, the company is in the process of rolling out other
potentially revenue generating divisions to organically grow users
while, at the same time, offering attractive synergetic services
that consumers consider collectively aligned to their everyday
needs.
RevoluVIP – VIP Travel Club (Initial Launch Q3
2018)
RevolUTILITY – Worldwide Utility Bill Payments
(Planned Launch Q1 2019)
RevoluPAY Merchant – Empower Small Business
Owners (App is live – Rollout Q4 2018)
The company will continue to increment the
Revolu Suite in a progressive manner, adding divisions and services
which empower its growing user base with appealing services they
use on a daily basis but, are now available in the Revolu family,
via the same RevoluPAY® user friendly app they love and, in
real-time.
RevoluPAY® Wallet Linked Physical
RevoluCARD Visa or Mastercard
The company is currently in negotiations to
offer a RevoluPAY® branded, Wallet App Linked, physical Visa or
Mastercard, to compliment the virtual card NFC empowered app. The
plans are for the card to be directly linked to a users RevoluPAY®
account, allowing immediate prepaid top-ups to/from the card, in
real time. The rationale behind this addition to RevoluPAY®
convenience is that NFC (Near Field Communication) POS devices are
not entirely widespread in developing countries, with the older
swipe machines being more prevalent. By adding an associated
physical Visa or Mastercard, the app user would be able to utilize
all types of POS devices plus, the abundant network of national
ATMs to withdraw local currency. The company has submitted two card
designs and, will provide an update on the RevoluCARD, once it has
approved one of the contracts presently under analysis.
RevoluPAY® App Exits Sandbox After
Android Live testing
On August 10th, the latest version 1.0.3 of the
RevoluPAY® Consumer app successfully concluded live testing and
exited the Sandbox trials. During the trials, real worldwide users
added money to their wallets and enacted real transfers to other
RevoluPAY® users in disparate locations, wallet-to-wallet. The
company is now focusing upon wallet-to-bank account transfers and
hopes to have this facility live by month’s end. Further upcoming
developments will include: country licensees, cash-out collection
points and, home remittance deliveries, in addition to specific
banking partner cash-out (disbursement) synergies. Additionally,
programmers have concluded the bilateral API between the RevoluPAY
App and equity owned and, FINTRAC Licensed, Duales. Finalized
integration and real-time operability is imminent.
Shareholders should note, the company has NOT
yet marketed RevoluPAY® to its extensive client base, nor has it
connected RevoluPAY® as a payment mechanism on its popular
proprietary +30 million annual page view websites or subsidiary
owned businesses. Full marketed rollout and RevoluPAY® as a payment
option on owned web properties will occur when the upcoming IOS for
Apple version is imminently released.
Plaintiff Submits Voluntary Dismissal on
Spurious 2017 Trademark Claim
On August 3rd 2017, the company advised that it
had received a notice concerning legal action regarding an alleged
breach of the trademark from a Curacao based travel agency.
Caribbean Travel Network, domiciled on the island of Curacao in the
Caribbean, filed a complaint alleging use of word mark violation in
Canada. At the time, the board deemed the claim without merit and
retained the Vancouver-based law firm Clark Wilson. On August 7th
2018, the plaintiff submitted a voluntary dismissal to the court,
ending the proceedings.
Mr. Mergen Chuluun And CUV Ventures End
Advisory Role
On June 19th 2018 the company announced the
addition of Mr. Chuluun to its advisory board. Both parties have
decided not to proceed further with this function and, the company
wishes Mr. Chuluun well for the future.
CUV Ventures Grants & Amends Stocks
Options
Further its news release dated January 18, 2018
and as permitted by TSXV Policy 4.4 and the Company’s 10% rolling
stock option plan, the Company has: (1) granted to certain Insiders
options exercisable to purchase an aggregate of 1,250,000 common
shares of the Company at an exercise price of $0.10 per share for 5
years expiring August 13th, 2023; and (2) amended options granted
January 18, 2018 to certain non-Insiders and exercisable to
purchase an aggregate of 1,300,000 common shares of the Company, by
reducing the exercise price to $0.10 per share (from $0.27 per
share).
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, Invoice factoring, Blockchain Systems, and
Cryptotoken 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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