RevoluGROUP Canada Inc. Successfully Completes $1.5 Million Private Placement, Formally Announces Gavin McMillan as CEO Including Allocation of 2 Million Incentive Options
RevoluGROUP Canada Inc. (TSX-V: REVO), a leading Canadian company in the financial technology sector, has successfully completed a non-brokered private placement, raising $1,500,000 in gross proceeds. The private placement involved the issuance of 30,265,530 units at a price of $0.05 per unit. Each unit consists of one common share and one warrant, exercisable to purchase an additional common share at a price of CAD $0.10 within one year from the date of issuance.
This achievement marks a significant milestone for RevoluGROUP, demonstrating the confidence and support of its investors in the company’s vision and strategy. The successful completion of the private placement will provide the necessary funds for RevoluGROUP to pursue its expansion plans, diversify its revenue streams, and strengthen its financial stability.
RevoluGROUP is focused on exploring new avenues and strategic partnerships to enhance its long-term growth prospects. One such partnership is its affiliation with Visa®, a renowned global payment technology company. By leveraging licenses and collaborations, RevoluGROUP aims to extend its reach into unexplored sectors and demographic groups, opening up new streams of income and boosting its competitive edge.
To achieve its goals, RevoluGROUP has set a target to break even within a year from its subsidiary, RevoluPay EP, SL. The subsidiary is actively working on integrating with SEPA and SWIFT, two prominent financial networks, to streamline transactions and improve cost efficiency. This integration will also enable RevoluGROUP to issue International Bank Account Numbers (IBANs) to customers, facilitating seamless cross-border transactions.
A portion of the proceeds from the private placement will be allocated to cover operational expenses, ensuring the fulfillment of short and mid-term cash flow requirements. Additionally, these funds will be dedicated to enhancing the corporate profile and refining the end user experience, reinforcing RevoluGROUP’s brand identity and providing customers with a simplified and intuitive interaction.
In conjunction with the successful private placement, RevoluGROUP is pleased to announce the appointment of Gavin M. McMillan as its new Chief Executive Officer (CEO). Mr. McMillan, who previously served as the Interim CEO, brings valuable expertise and leadership to the company as it continues to drive innovation and growth in the financial technology sector.
Furthermore, RevoluGROUP has granted incentive share options to its CEO, Gavin McMillan, allowing him to purchase up to 2,000,000 common shares of the company at an exercise price of $0.05 per share. This incentivizes Mr. McMillan to contribute to the company’s success and aligns his interests with those of the shareholders.
RevoluGROUP’s flagship product, RevoluPAY®, is a multinational payment app available on both Apple and Android platforms. With proprietary technology and a wide range of features, including remittance payments, forex, crypto-to-fiat exchange, and various retail and hospitality payments, RevoluPAY is well-positioned in the global Open Banking sector and the lucrative family remittance market.
RevoluGROUP Canada Inc. is a multi-asset, multidivisional Canadian company that deploys advanced technologies in various sectors, including banking, mobile apps, money remittance, eGaming, healthcare payments, esports, and fintech. With its robust portfolio of subsidiaries and its commitment to innovation, RevoluGROUP is poised for continued success in the evolving financial technology landscape.
For more information about RevoluGROUP Canada Inc. and its diverse range of offerings, please visit their official website at www.RevoluGROUP.com.