CUV Ventures Corp. (TSX-V: CUV
)
(the “Company”) is pleased to announce that it has increased the
authorized share capital of wholly owned subsidiaries; Travelucion
S.L to 463,600 euros, (approx 709,000 $CA) or 152 euros per share
(total 3050 shares) and, RevoluPAY S.L. to 150,001 euros, or 1 euro
per share (total 150,001 shares). RevoluPAY begins Bank
Disbursements in Europe. Travelucion signs first major suppliers
for the RevoluVIP platform.
RevoluPAY S.L Share Capital
Increase
RevoluPAY S.L. increased its paid-up authorized
share capital on 18 September 2018 to 150,001 euros (approx 229,500
$CA) in preparation for the application of the proprietary European
Banking Payment Entity License (Entidad de Pago – EP). The minimum
required capital of a soliciting entity is of 150,000 Euros. The
company now meets the European banking prerequisite and, expects to
submit its request for the cited EP banking license within 30 days.
The approximately 90 day approval process could begin as early as
October 22nd 2018. As per previous news releases, RevoluPAY is
currently operating its e-wallet through a banking license partner.
Obtaining the proprietary license is a step the company has planned
from the outset and, will be an important milestone, which should
bring increased influence to the wholly owned subsidiary RevoluPAY
S.L and, shareholder value.
Travelucion S.L Share Capital
Increase
Travelucion S.L. increased its paid-up
authorized share capital on 19 September 2018 to 463,600 euros,
(approx 709,000 $CA). The increase in capital reflects direct
capital investments in the company since 2016.
RevoluPAY begins Bank Disbursements in
Europe
As announced on 17th September 2018, the company
has today begun trials, together with a new iteration of the
RevoluPAY app, for banking disbursements (cash-out) in the entire
European Union. The live testing will continue until September the
30th 2018, at which time, the iOS version of RevoluPAY is expected
to launch. The company hopes to be entirely operational in the EU,
with both Android and iOS, commencing in October 2018.
RevoluVIP Travel Club
The wholly owned, duly licensed Travel subsidiary, Travelucion,
has signed multiple GDS -- XML supplier agreements with the
following major entities:
Bonotel LLC – Las Vegas, Nevada
Turismo Solidario S.A.S – BOGOTA, Colombia
Bookohotel LLC – Miami, Florida
The company continues to diligently negotiate and, sign, key
supplier agreements at an accelerated pace, to meet the roll-out
criteria of the RevoluVIP Presentation.
RevoluVIP utilizes cutting edge Constellation
Software subsidiary, Juniper, GDS XML technology, the newly
obtained IATA and Amadeus licenses and, the proven know-how and
team at Travelucion, to expand sales into over 130 new
countries/markets, optimistically increasing Travelucion’s current
single test destination audited annual revenue of 2.5 million
dollars by potentially significant multiples.
Travel Network Pre-Beta http://dev.americavip.com/dev/
Travel Club Pre-Beta http://revoluvip.club/devclub/
For more information about the revolutionary RevoluVIP Travel
Club, please visit
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.
CUV Ventures (TSXV:CUV)
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