Vancouver, BC, Feb. 14, 2024 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (the “Company”) announces that Daniel Hernandez, Director of RevoluGROUP has decided to step down effective immediately, and is pleased to announce the appointment of Francisco José Moreno Balboa to the board of directors (the “Board”) of the Company, both effective February 12, 2024.

Daniel Hernandez began as a highly valued corporate advisor in September 2017. Since November 2020, Mr. Hernandez has been an instrumental board member, bringing his expertise and guidance to the Company over the past three years. The board and Management extend their deepest gratitude to Daniel for his significant contributions in his previous executive management role. Due to the tremendous success of Daniel Hernandez's eSignus, a Company he cofounded, Daniel needs to dedicate increased focus in this role. Mr. Hernandez will continue to assist in the capacity of Advisor, specifically on the integration of the RevoluEX platform and integration of eSignus security technology for mobile or web applications.

In light of this transition, the Company is pleased to welcome Francisco José Moreno Balboa as the newest member of the Board of Directors, effective immediately and subject to the TSX Venture Exchange approval of the requisite PIF ("Personal Information Form"). Francisco was a notable investor in the Company's recent private placement, has undertook key internal projects and the upcoming technology integration related to MyFullTrip, and other partnership projects.

Bernard Lonis, Chairman of RevoluGROUP, expressed his gratitude to the outgoing director and enthusiasm for the incoming director's contributions. Mr. Lonis stated, "eSignus has demonstrated huge success by focusing on the security aspects of protecting cryptocurrencies and user wallets, and having Daniel Hernandez continue as RevoluGROUP advisor but now laser-focused on the eSignus integration into RevoluEX is of paramount importance for our upcoming projects. Furthermore, we welcome Francisco José Moreno Balboa to the Board of Directors as a major investor and a key ally in numerous upcoming technology integrations."

About Francisco José Moreno Balboa

Francisco is a seasoned Computer Systems Engineer with a Master's in Business Management and Marketing. Mr. Moreno Balboa epitomizes contemporary Information Technology entrepreneurialism, founding Smart Leisure straight out of university, which counted among its client's illustrious companies such as Heineken, Red Bull, Pernod Ricard, and many others. Since 2017, commercial successes have continued as CEO of Madrid, Spain-based Logixs. Francisco and Logixs ascended new heights of achievement by winning the World Finance award twice in 2018 and 2020 for designing and deploying the European banking App EVO Banco. Logixs also provides key services to Price Waterhouse Coopers in the Iberian Peninsula. In 2022 and 2023, Logixs was awarded the concession to create and deploy the nationwide Cultural Voucher Program on behalf of Spain's Culture Ministry. In recent times, Logixs has provided IT services to Banco Santander, one of the world's Top 50 banks with active branches across North and South America and the European Union. Other key Fintech developments include the comprehensive design and development of Orange Bank, a division of the EU Telecommunications giant Orange. Francisco brings valued know-how and cutting-edge information technology skills to RevoluGROUP as we pursue our strategic objectives in North America and Europe.

Francisco José Moreno Balboa, commented on joining the RevoluGROUP Board of Directors, "I am delighted to join RevoluGROUP. RevoluPAY's Neobanking prowess, along with the active international financial licenses, is the ideal platform to launch new ideas while creating a business leader in the fintech and banking sectors. I look forward to bringing my wealth of experience and know-how in the fintech sector to increment our market penetration onboard substantial users while increasing shareholder value."

The Company Issues Incentive Share Options

In further news, the Company announces that incentive share options to purchase up to 2,700,000 common shares of the Company were granted to consultants of the Company, with an exercise price of $0.05 per share. The incentive share options have been granted pursuant to the Company's 10% rolling stock option plan and will expire twelve months from the grant date. Should all announced options be exercised in the term, the aggregate amount payable to the treasury would be CA$ 135,000.

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. 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.

"Gavin McMillan"
______________________
Gavin McMillan
CEO and Director

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.sedarplus.ca for further information.