VANCOUVER, British Columbia, May 28, 2018 (GLOBE NEWSWIRE) -- CUV Ventures Corp. (TSX-V: CUV ) (the “Company”) is pleased to announce that senior management has concluded several investigatory face-to-face meetings with the three United States law firms: Akerman, Fuerst Ittleman David & Joseph, and Greenberg Traurig. The focus of the meetings is to determine and analyze both Federal Registry and State licensing criteria for an eventual wholly owned U.S subsidiary for the RevoluPAY® Blockchain powered Remittance and Leisure Payment app. The company considers prudent that this analysis begins now, due to the attractiveness of travel offers located in the United States and, the enormous annual influx of international tourists choosing popular United States destinations for their vacations.
RevoluPAY® and RevoluVIP Family Union
Beyond the scope of the remittance industry, RevoluPAY® will empower local vendors of travel related services with a seamless and easy mobile method to manage receivables. The hub of the RevoluVIP travel club invariably includes local “at destination” vendors worldwide, who cater to international visitors. With over 75 Million international tourists choosing the United States as their travel destination annually, the RevoluPAY® merchant application should be extremely popular at Attractions, Waterparks, National Parks, Excursion operators, Hotel Chains, Restaurant Chains, and other locations popular with international visitors. As RevoluVIP is unmistakably a private member only travel Club, the intent would be to strike financially attractive deals for members to utilize the specific United States based nationally domiciled service providers, while at the same time, imposing the use and acceptance of RevoluPAY® as the payment mechanism of choice for our members. While these transactions could technically be enacted internationally, the company feels that a local presence in the United States could offer significant benefits, especially if the subsidiary obtains national federal registry status then, subsequently, specific State licensing, in states where international tourism is extremely prevalent, such as New York, Florida, Washington, California and Nevada. Shareholders should note that these initial meetings with legal counsel are purely exploratory in nature and, do not impede the rollout of neither RevoluPAY® nor RevoluVIP, as both divisions will be able to carry out transactions, in the interim, through European based U.S subsidiaries, equity partners or eventual licensee (franchise) partners in any chosen world jurisdiction.
RevoluVIP and RevoluPAY® Dual Focus
For the benefit of shareholders, we break down the typical trip into two components:
- RevoluVIP Initial Trip Booking – Operating much like any travel booking platform, RevoluVIP will unite worldwide GDS and Wholesale operators into an easy to use online and mobile platform, indistinguishable from those that travelers use today. Members will, however, benefit from reduced rates and exclusive travel offers . RevoluVIP members will only be able to pay for travel services using their RevoluPAY® app.
- RevoluPAY® “at destination” offers – Currently, online travel operators have little to no revenue from activities undertaken by travelers at their ultimate destination. RevoluVIP wishes to change this, by proposing to its members; local amenities, attractions, dining, excursions and ancillary ground services, thus, assisting members to continue to receive Club membership benefits, even “at destination”. RevoluVIP will seek specific agreements with local businesses, whether private or corporate owned, who ultimately wish to service RevoluVIP members at a chosen destination. All of these services will be exclusively payable through RevoluPAY® via the unified and, co-developed, RevoluPAY® Merchant app.
Introducing the RevoluPAY® Merchant App
Conceived, Designed and developed in conjunction with the consumer version of the Apple and Android apps, the RevoluPAY® merchant app will allow entities or individuals, at the destination, to seamlessly charge receivables to RevoluPAY® consumer app users worldwide. The transaction could be with a simple souvenir market stall vendor in, for instance, the Bahamas, or a multinational Restaurant chain, present in many countries. Once the merchant has been approved, their capacity to charge receivables to RevoluPAY® users will be enabled. The United States is a very popular travel destination and, the company estimates that, typically, a traveler will spend as much at their ultimate destination as they did for their entire travel arrangements. In some cases, local destination spending far exceeds initial travel costs, especially on short haul trips. The company considers this market to be extremely attractive and by forging the right merchant relationships with destination partners; the company will bring extended value to RevoluVIP members and, likewise, procure an expedited worldwide acceptance of RevoluPAY®, allied to significantly increased revenue.
About CUV Ventures Corp.:
CUV Ventures Corp. is a multi-asset, multidivisional publicly traded Canadian company deploying advanced technologies in the; Online Travel, Vacation Resort, Mobile Apps, Money Remittance, Invoice factoring, Crypto Mining, Blockchain Systems, and Cryptotoken sectors.
Our flagship technology is RevoluPAY®, the Apple and Android multinational remittance app, powered by blockchain protocols, and aimed at the worldwide + $595 billion family remittance market.
The ₡CU Coin Cryptotoken, allied to RevoluPAY®, promises to be the coin of choice for remittance senders, travelers, and the hospitality industry. Its increasing adoption across several spheres exemplifies its international perspective and future value amongst users.
The company’s FinTech division continues to expand into this rapidly emerging segment, in which it; manages, operates and develops end-to-end digital platforms to monetize the blockchain ecosystem across a broad spectrum of leisure related industries, remittances, and finance.
A diverse division of the company, named Cuba Ventures , is involved in Caribbean Basin strategic investments. Similar to the United States NASDAQ listed Herzfeld Fund , the focus is to control noteworthy assets related to the Caribbean Basin (including Cuba). The division is comprised of numerous assets. A wholly owned subsidiary Travelucion Media is a duly licensed and bonded online travel company, Amadeus GDS affiliated, digital and print media powerhouse that specializes in travel marketing, electronic reservations, and online booking solutions. Travelucion owns a vast portfolio of web assets consisting of 432 Cuba-centric websites in up to 5 languages which generate over 35 million page-views per year and direct traffic to Travelucion’s online booking and e-commerce sites and proprietary online booking systems, also customized for white label deployment on third party booking websites for; Cayman Islands, Dominican republic, Aruba, Bahamas, BVI, Belize, Antigua, Jamaica and Cuba, offering bookings for hotels, private residences, car rentals, tours, flights and a variety of other types of specialized travel services.
In 2017, the company acquired equity in the Florida, USA based, licensed and bonded travel agency; International Business & Travel Opportunities, LLC ( IBTO ), a Caribbean Basin focused travel facilitator operating trips in the region (including licensed Cuba trips for Americans).
In 2018, the company acquired equity in the Florida, USA based, Third Circle Publishing LLC, publisher of the esteemed and U.S. circulated print and digital magazine Cuba Trade Magazine . CUV Ventures Corp owns an interest in some important print and digital media assets, reaching 10s of millions of consumers globally.
In 2018, the company acquired equity in the Toronto; Canada based, FINTRAC licensed, remittance company, Duales Inc . as part of the RevoluPAY® remittance app partner network.
In 2018, the company acquired equity in the Miami, USA based, Business advisory/consultant think-tank Havana Consulting Group , as part of the progressive acquisition of key Cuba related but, non domiciled, businesses.
The Cuba Ventures division consulting team harnesses over 80 years of combined advisor experience in submitting and, obtaining approval, for joint ventures, joint production agreements, and import/export permits for foreign enterprises. More recently the company has taken a royalty approach for future agreements between third parties anxious to begin commercial operations with Cuba and the company’s Cuba Consulting Unit.
Through this methodology, the Company is gradually building a potentially valuable “future-ready”, non Caribbean (Cuba) domiciled asset base while, in the interim, securing revenue, growth and unique opportunities present in the Caribbean Basin, with an emphasis on the $4 billion dollar and rapidly growing Cuban travel and tourism industry, $3 billion factoring and FinTech sector, $18.6 billion Caribbean remittance industry and international corporate consulting for Cuba’s estimated $86 Billion annual economy , which remains an interesting opportunity and, one that this division strives to dominate at every opportunity by acquiring assets that are neither physically domiciled nor associated with entities located in Republic of Cuba but, that have unparalleled future takeover prospects, should the political climate improve.
For further information on CUV Ventures Corp. (TSX-V: CUV ) visit the Company’s website at www.cuvventures.com . The Company has approximately 123,000,000 shares issued and outstanding.
CUV VENTURES CORP.
STEVE MARSHALL ______________________________ Steve Marshall CEO
For further information contact myself or: Nick Findler CUV Ventures Corp. Telephone: 604-639-3850 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@cuvventures.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.
