RevoluPay Announces Strategic Agreement with SHIFT Financial Services Ltd.

Vancouver, BC, March 19, 2024 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2), (Munich: A2PU92) (the "Company") is pleased to announce that RevoluGROUP, through its wholly owned subsidiary RevoluPAY, has entered into a strategic collaboration with SHIFT Financial Services Ltd. (“SHIFT”). This collaboration offers SHIFT intermediary transfer solutions for core, high-value, and high-margin payment transactions, leveraging the RevoluPAY innovative multi-currency payment solutions catering to the dynamic needs of global businesses and consumers.

"Our collaboration with SHIFT is a testament to our commitment to providing top-tier financial solutions that meet the evolving demands of the global market," commented Alfred Manresa, Director of RevoluGROUP and General Manager of RevoluPAY. "Together, we are setting a new standard for multi-currency transactions, driving the digital payments revolution forward."

The agreement sets forth a detailed operational framework that encompasses intermediary services for processing international transactions streamlined through the RevoluPAY platform. SHIFT has concluded extensive compliance and transaction testing, delivering global transactions exceeding USD $400,000 in under a week and is prepared to rapidly scale up transactions to support clients evolving requirements.

Update on the Erik Riveros Agreement

RevoluGROUP is also excited to announce an initial verbal agreement with Mr. Erik Aaran Lara Riveros, marking a significant milestone in our commitment to innovate within the financial sector. This agreement, built on mutual respect and a shared vision for the future, underscores a firm foundation of trust and collaboration. A key highlight from our discussions includes Mr. Riveros's commitment to a $647,000 penalty payment, demonstrating his strong belief and confidence in the shared objectives. This amount will be held in trust as both parties enter into a formal agreement to solidify our strategic partnership, aiming to substantially increase transaction volumes and secure a financial injection of up to CAD 12.47MM by Mr. Riveros into RevoluGROUP Canada Inc.