September 9, 2024
Dear Shareholders,
I trust this message finds you well.
As Interim CEO, I would like to share an update on the recent developments over the past week, all of which aim to ensure the continued stability and growth of RevoluGroup Canada Inc.
Sincerely,
Erik Aaron Lara Riveros
Interim CEO
August 30, 2024
Dear Shareholders,
I hope this message finds you well. I am writing to you as the Interim CEO to give you an update on the recent developments and our ongoing efforts to ensure the stability and growth of our company.
Firstly, I would like to acknowledge our recent silence and lack of communication. This was due to the abrupt resignation of the previous board of directors, which left us with significant organizational and operational challenges. Unfortunately, the former board members did not facilitate a proper handover or support during this transition, requiring us to invest considerable time in forensic housekeeping and assessing the company's current state. We appreciate your patience and understanding during this period.
I am pleased to inform you that all new board members have submitted their Personal Information Forms (PIF) to the TSX. Gavin and Erik have already been approved, and while we await the formal approval of the remaining members, the board is already functioning effectively, and the management team is actively engaged in our duties.
A new audit committee has been established to ensure compliance with TSX requirements. This committee oversees our financial reporting and internal controls, reinforcing our commitment to transparency and accountability.
The board has taken steps to address matters related to our former mining subsidiary that supports our commitment to focusing on our core business objectives. This action helps us streamline operations and maintain a strong financial foundation.
To address immediate financial needs, the board has approved a resolution for the potential receipt of a loan from Meridien Holdings LLC for up to USD 500,000. We are reviewing this option to ensure it aligns with our long-term strategic goals. The primary use of these funds would be to settle outstanding bills for administrative staff and auditors in Canada and to meet the minimum capital requirements for our licenses in Spain and the USA.
Our management team has also begun a comprehensive review of all existing contracts with service companies and clients. This review is part of our efforts to develop a robust commercial action plan to drive growth and establish new commercial agreements, which we plan to announce starting next week.
We are committed to restoring stability and confidence in our company and to pursuing opportunities that will create value for our shareholders. We appreciate your continued support and will keep you informed as we progress.
Thank you for your trust and patience.
Sincerely,
Erik Aaron Lara Riveros
Interim CEO