RevoluGROUP Canada Inc. RevoluSEND Extends Remittance Reach with Thunes

VANCOUVER, British Columbia, Nov. 24, 2020 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (the "Company") is pleased to announce that RevoluPAY EP S.L. has signed a Definitive Agreement ("DA") with Thunes on November 23^rd, 2020. The DA, approved between RevoluPAY CEO Alfredo Manresa and Adrien Antoni, Director of Thunes, permits, with immediate effect, RevoluPAY family remittances at over 9,000 collection partner agencies offered by www.thunes.com in +100 countries. The parties have agreed upon delivery commissions payable to Thunes, independent of the amount sent and per individual beneficiary delivery and origination via RevoluPAY.

The Scope of The Thunes Accord

Today's agreement with Thunes expands the reach of the Company's remittance vertical RevoluSEND into supplementary countries, adding 38 nations previously unavailable, most notably crucial high volume remittance markets (Denoted Bold). The addition of Brazil, Chile, and Haiti in South America. Asia Pacific & South Pacific regions include Australia, Bangladesh, Cambodia, China, Fiji, Hong Kong, India, Indonesia, Malaysia, Mongolia, Myanmar, Nepal, Pakistan, Philippines, Samoa, Singapore, South Korea, Sri Lanka, Thailand, Tonga, and Vietnam. Countries on the African continent also experience an increase with the addition of Benin, Botswana, Burundi, Chad, Congo, Ethiopia, Gabon, Guinea-Bissau, Malawi, Mauritania, Niger, Somalia, Togo, and Zimbabwe. While already featured on RevoluSEND through alternative remittance partnerships, the remaining countries included within the Thunes agreement will experience an increase in remittance collection points, allied to additional national and provincial remittance delivery coverage.

In 2019, in USD, the top four remittance recipient countries were India (83.1 billion), China (68.4 billion), Mexico (38.5 billion), and the Philippines (35.2 billion). Additionally, today's inclusion of China further permits the Company to ultimately pursue the Chinese Payment Processor Definitive Agreement ("DA") disclosed in the 19^th June 2018 news release.

About Thunes

Thunes harnesses technology permitting real‑time cross‑border payments connecting a digital payment network enabling the seamless movement of funds across borders. A single connection with Thunes grants an impressive reach into new markets and multiple disbursement options in more than 100 countries.

United States MSB License Update

Further to the news release dated 10^th March 2020, the Company has opted to discontinue the Coello & Coello affiliation. Consequently, with minor assistance from the Soft Landing Global consultancy firm, the Company has begun the petition for said US MSB licenses on the 3^rd of November 2020. Management has accrued adequate knowledge to undertake most of the task internally, with minimal external assistance. Shareholders are reminded that corporate executives based at the wholly-owned subsidiary RevoluGROUP USA Inc. are now adequately positioned to expedite this task, which was not the case in March 2020. The updated chronology includes simultaneous application of the Florida and Washington licenses, as well as the twenty-seven (27) state licenses petitioned through the National Multistate Licensing System & Registry's (NMLS) Multistate Money Services Businesses Licensing Agreement (MMLA) Program. Staff at RevoluGROUP USA Inc. expect to provide management with weekly updates to keep shareholders informed of the United States MSB license petition's progress. It is anticipated that the state MSB licenses should be granted before year-end.