- RevoluGROUP (REVO) has signed a third addendum to its binding MOU with a European financially regulated entity allied with a UAE-based financial consultancy firm
- The adjusted timeline for investment is expected to occur in the second quarter of 2023
- The investor’s interest in RevoluGROUP signals confidence in the company’s growth prospects
- The suitor intends to conclude a share equity acquisition providing RevoluGROUP with additional funding for expansion
- The investor obtained primary E.U. regulatory approval on March 9th, and the transaction negotiations continue to advance favorably
- CEO Steve Marshall spoke with Simon Druker about the news
- RevoluGROUP Canada is a multinational financial technology company active in banking, remittances, forex payments, esports, travel and blockchain, among others
- RevoluGROUP Canada (REVO) opened trading at $0.26 per share
RevoluGROUP (REVO) has signed a third addendum to its binding MOU dated January 5th, 2023.
The addendum reaffirms interest in an equity investment on the part of a European financially regulated entity allied to a UAE-based financial consultancy firm.
The investment would provide RevoluGROUP with additional funding to expand its digital payment services and solutions globally and continue developing its technology offerings.
The addendum reiterates that, despite exposure to U.S. financial institutions Silvergate and Signature Bank, the suitor remains wholly committed to concluding its investment with RevoluGROUP.
The addendum also includes a newly defined 14-day timeline, meaning the investment proposal is expected to culminate on or before midnight on April 3rd, 2023.
The European financially regulated entity obtained primary E.U. regulatory approval on March 9th, and the anticipated transaction negotiations continue to advance favorably.
The investor has also received Canadian Regulatory PIF approval with no objections raised by the TSXV.
CEO Steve Marshall spoke with Simon Druker about the news.
RevoluGROUP Canada is a multinational financial technology company active in banking, remittances, forex payments, esports, travel and blockchain, among others.
RevoluGROUP Canada (REVO) opened trading at $0.26 per share.
