Vancouver, BC – RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt:IJA2) (the “Company”) is pleased to announce that, in conjunction with longtime advisor, Daniel Hernandez and, outside software development firm Bonsoft, a decision has been taken to immediately prioritize the launch of the RevoluMED vertical. This prioritization will only affect the upcoming RevoluESPORTS vertical, which may be slightly delayed by approximately 1 month. As a result of previous collaborations between Mr. Hernandez and Bonsoft, the company successfully launched the revenue generating verticals RevoluCHARGE, RevolUTILITY and, most recently, RevoluEGAME.
Coronavirus Pandemic And RevoluMED
Further to the news release dated the 21st October 2019 the company informed shareholders that it had commenced development of its upcoming healthcare revenue vertical RevoluMED. RevoluMED proposes to leverage the RevoluPAY® proprietary Apple and Android multinational payment App for: Healthcare Appointment Scheduling, RX Payment, Pharmacy Payments, Medical Insurance, Insurance COPAY and, other financial aspects related to the Healthcare industry as whole. In light of recent world events, it has become obvious that the company must prioritize the release of this vertical as soon as possible. As is being disseminated through the media, swathes of Europe are experiencing exponential increases in cases of the Coronavirus, with focal outbreaks in Spain’s capital city Madrid and continental Italy. Coincidentally, Spain was the planned beta market for RevoluMED when the company announced the vertical and, prior to the advent of the Coronavirus. The premise of RevoluMED is to simplify the process of scheduling medical appointments from any smartphone, pre-arrange and pay for RX delivery and vaccinations through specific doctor affiliated pharmacies and, facilitate the purchase of other OTC (Over the counter) medicine. The inflexibility of certain European nations to allow non presential RX delivery by means of mail courier, for doctor prescribed medicines and common vaccinations, was a hurdle the company was addressing. Due to current events and, the numerous European governments highly publicized dissuasion of public meetings or, encounters en masse, a renewed interest in modernizing the antiquated: Doctor appointment, RX Delivery and Administering of Vaccinations in these nations has emerged, with Spain and Italy at the forefront, seeking enhanced efficiency. At present, the sick, or their immediate family members, must commonly physically attend public pharmacies to collect RX prescriptions and, most doctors’ appointments are still verbally solicited over a phone. Common Vaccinations are also seldomly administered at pharmacies or, even at separate high-volume clinics, despite this practice being extremely common outside of the EU. This public health anomaly unfortunately consumes a primary care physicians precious time. A handful of vaccination centers have emerged; however, they continue to operate through manual booking or, cumbersome waiting in line, with no set appointments. The company’s proposed RevoluMED vertical hopes to eradicate pharmacy visits through a triangulation of official authorizations between: Pharmacy, Doctor and RevoluMED blockchain appointment and payment software, thus, avoiding what today is being dissuaded by these same national authorities, specifically encounters between the general public and the potentially sick, in locations such as pharmacies. RevoluMED also hopes to streamline doctor appointments with precision, to allow medical workers to allot time to patients more efficiently. Finally, should mass vaccinations be deemed a requisite, RevoluMED healthcare technology could accurately control appointments, payment and, scheduling, in a similar manner. While most European countries offer free public health to their citizens, the majority of RX prescriptions are copay based, meaning that the patient must use a viable and secure method to pay the pharmacy, such as RevoluPAY. The proposed advent of couriered RX fulfilment to the patient’s domicile could also include distance prescription payments, such as with RevoluPAY. The company is also eager to penetrate the private health sector, which is also blossoming in European countries, especially with the affluent. These private healthcare plans invariably include copay scenarios for both doctor and RX payments. Healthcare spending is a major expense in Europe, as it is in the rest of the world, however, in certain geographical locations the patient process is in dire need of modernization, as the most recent Coronavirus epidemic has exemplified. The company believes that this looming world emergency will finally permit imminent flexibilization of certain regulations and, the entrance of RevoluMED into healthcare sectors that were notoriously over regulated or, hopelessly inefficient.
European PSD2 Bank License Update
Further to the news release dated 10th March 2020, the company would like to inform shareholders that the three-way communication between the: Central Bank, Hogan Lovells and Alfredo Manresa, has remained fluid during the past week, despite the current world events. The company has also received a formal communication issued by the central bank which confirms what the company itself has this past week experienced, ratifying unimpeded activity of the bank concerning their usual duties: “all the Bank’s premises will remain open and continue to provide the usual services to the general public”. The company remains confident that a PSD2 Banking license will be granted.
Links utilized in this News Release
https://www.bde.es/f/webbde/GAP/Secciones/SalaPrensa/NotasInformativas/20/presbe2020_19en.pdf
About RevoluPAY®
The Company’s flagship technology is RevoluPAY®, the Apple and Android multinational payment app. Built entirely in-house, RevoluPAY features proprietary, sector specific, technology of which, the resulting source code is the property of the Company. RevoluPAY’s built-in features include: Leisure payments, Travel Payments, Retail and Hospitality payments, Remittance Payments, Real Estate Payments, pay-as-you-go phone top-ups, Gift Cards & Online Credits, Utility Bill payments, healthcare payments etc. RevoluPAY is powered by blockchain protocols, and, is squarely aimed at the worldwide multi-billion dollar leisure sector and, + $595 billion family remittance market. RevoluPAY® is operated by the European wholly owned subsidiary RevoluPAY S.L located in Barcelona. RevoluPAY S.L operates under European E-money - Directive 2009/110/EC through a licensed electronic money institution or EDE Banking Licensed entity. RevoluGROUP Canada Inc. controls 5 wholly owned subsidiaries on 4 continents.
About RevoluGROUP Canada Inc.:
RevoluGROUP Canada Inc. is a multi-asset, multidivisional publicly traded Canadian company deploying advanced technologies in the; Online Travel, Vacation Resort, Mobile Apps, Money Remittance, Mobile Phone Top-Ups, EGaming, Healthcare Payments, Esports, Invoice factoring, 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. The Company has approximately 158,139,272 shares issued and outstanding.
RevoluGROUP Canada Inc.
“Steve Marshall”
______________________
STEVE MARSHALL
CEO
For further information contact:
Don Mosher
RevoluGROUP Canada Inc.
Telephone: (604) 685-6465
Toll Free: 800-567-8181
Facsimile: 604-687-3119
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.sedar.com for further information.