RevoluGROUP Canada Inc. Announces Chairman’s Retirement Due to Health Reasons

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Vancouver, BC, June 18, 2024 (GLOBE NEWSWIRE) — RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2), (Munich: A2PU92) (the “Company”) announces with deep regret that Bernard Lonis, the esteemed Chairman of the Board and Director, has officially stepped down from his roles with the Company, effective June 18, 2024 due to ongoing health concerns.

Mr. Lonis initially stepped aside from his duties on May 1st, 2024, as he was admitted in hospital.

Lonis said: “Although I am recovering correctly, I am going to listen to this ”wake up call” my body has sent me and change my professional rhythm in all the companies and organizations where I am involved. Including Revolugroup where I will only stay as a major shareholder”

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Bernard Lonis has been an integral part of RevoluGROUP Canada Inc.’s growth and success over the past six years. His visionary leadership and unwavering commitment have been instrumental in navigating the company through various milestones and achievements. Under his guidance, RevoluGROUP has seen significant advancements in the NEO Bank sector having obtained financial regulatory approvals in 27 EU countries, the United States of America, and Canada.

“While we are deeply saddened by the circumstances leading to Mr. Bernard Lonis’s retirement, we fully support his decision to prioritize his health,” said Fernando Guillen, Director of RevoluGROUP. “We are incredibly grateful for his contributions and dedication to the company. His legacy will continue to inspire us as we move forward.”

The Board of Directors has commenced the process of identifying a suitable successor to ensure a seamless transition.

Mr. Lonis expressed his gratitude to the Board, the executive team, and all employees of RevoluGROUP. “It has been an honor to serve as Chairman and Director of this remarkable company. I am confident that RevoluGROUP will continue to thrive and achieve new heights under the capable leadership of the Board and management team.”

The company will continue to provide updates as the transition progresses. We thank our shareholders, employees, and stakeholders for their continued support and understanding during this period.

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, Crypto-to-fiat exchange, Retail and Hospitality payments, Real Estate Payments, pay-as-you-go phone top-ups, Gift Cards & Online Credits, Utility Bill payments, Gaming Credits, Leisure payments, Travel Payments, etc. RevoluPAY is aimed squarely at the worldwide multi-billion dollar Open Banking sector, cross-border forex payments, and + $595 billion family remittance market. RevoluPAY® is operated by the European wholly-owned subsidiary RevoluPAY EP S.L situated in Barcelona. RevoluPAY is a licensed United States MSB, Canadian FINTRAC, and European PSD2 payment institution 6900 under the auspices of E.U. Directive 2015/2366 with E.U. 27 Country Passporting and official issuer of Visa® Cards and authorized Visa® Affiliate Member. RevoluGROUP Canada Inc. controls five wholly-owned subsidiaries on four continents.

About RevoluGROUP Canada Inc.:

RevoluGROUP Canada Inc. is a multi-asset, multidivisional, publicly traded Canadian Company deploying 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.

“Fernando Guillen”
______________________
Fernando Guillen
Director

For further information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
Email: [email protected]

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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