RevoluGROUP Announces CEO and Director Stepping Down

/EIN News/ -- VANCOUVER, British Columbia and BARCELONA, Spain., May 02, 2024 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX- V: REVO), (Frankfurt: IJA2), (Munich: A2PU92) ("RevoluGROUP") today announced CEO and Director, Gavin McMillan, will be stepping down from his positions, effective immediately. Gavin joined the Company in August 2023 and served as CEO for over six months. During his leadership, McMillan has been instrumental in focusing on the continued development of the API-driven Payment-as-a-Service (PaaS) model, which has continued to expand through key white-label partnerships and joint venture agreements and enhancing revenue streams.

In a statement, Bernard Lonis, the Chairman of the Board, acknowledged McMillan's vital contributions and leadership, stating, "We owe a great deal of gratitude to Gavin for his dedication and the continued strong foundation he has helped to build for RevoluGROUP's future. We wish Gavin the best in his future endeavors."

The Board has commenced a comprehensive search process to identify a successor who will lead the Company into its next growth phase and ensure continuity in executing RevoluGROUP's strategic objectives. The search will include internal and external candidates, and the Board aims to complete the process promptly.

About RevoluPAY®

The Company's flagship Neobanking technology is RevoluPAY®, the Apple and Android multinational payment app. Conceived entirely in-house, RevoluPAY features proprietary, sector-specific technology of which the resulting source code is the Company's intellectual property. RevoluPAY's built-in features include Remittance Payments, Forex, Retail and Hospitality payments, Real Estate Payments, pay-as-you-go phone top-ups, Gift Cards & Online Credits, Utility Bill payments, Leisure payments, Travel Payments, etc. RevoluPAY is aimed at the worldwide multi-billion dollar Open Banking sector and + $630 billion family remittance market. RevoluPAY® is operated by the European wholly owned subsidiary RevoluPAY EP S.L located in Barcelona. RevoluPAY is a licensed United States MSB, Canadian FINTRAC, and European PSD2 payment institution 6900 under E.U. Directive 2015/2366 with EU Passporting.

About RevoluGROUP Canada Inc.

RevoluGROUP Canada Inc. is a multi-asset, multidivisional, publicly traded Canadian Company that controls five wholly owned subsidiaries on four continents. RevoluGROUP deploys advanced technologies in; Banking, Mobile Apps, Money Remittance, Cross-Border Forex Payments, Mobile Phone Top-Ups, EGaming, Healthcare Payments, Esports, Invoice factoring, Online Travel, Vacation Resort, Blockchain Systems, and Fintech app sectors. Click here to read more.

For further information on RevoluGROUP Canada Inc. (TSX-V: REVO), visit the Company's website at www.RevoluGROUP.com.

RevoluGROUP Canada, Inc.

"The Board"

RevoluGROUP Board of Directors

For further information, contact:
RevoluGROUP Canada Inc.
Telephone: 604-332 5355
Email: info@revolugroup.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.