Mr. Gavin McMillan reports

REVOLUGROUP CANADA INC. PROVIDES UPDATE ON DISCUSSIONS WITH ERIK RIVEROS

Revolugroup Canada Inc. has provided an update to shareholders on continuing discussions with Erik A. Lara Riveros, director of HBDIG Technologies, concerning the binding memorandum of understanding (MOU) announced on Jan. 6, 2023, and the non-brokered private placement announced on April 26, 2023, titled "RevoluGROUP Canada Inc. Reports It Has Negotiated a $12.47 Million Private Placement Led by European Financially Regulated HBDIG Technologies GmbH."

The current discussions, led by Revolugroup's chief executive officer, Gavin McMillan, and Mr. Riveros, focus on revising the existing terms to better align with both parties' strategic directions. A key aspect under careful consideration is the review of transaction types and volumes to ensure full compliance with relevant regulatory standards. Since these revisions could materially alter the agreement's structure, both parties have also discussed Mr. Riveros's commitment to fulfilling his obligations to remit the penalty amount of $676,809 whilst simultaneously materializing a revised agreement. These simultaneous actions would result in the successful completion of the subscription agreement that would support the expansion plans of both parties.

Mr. McMillan, CEO of Revolugroup Canada, expresses optimism regarding the continuing discussions, stating: "We greatly appreciate Mr. Riveros's openness to making significant concessions. Although we are in the early stages of negotiations, it's our top priority to progress through the necessary due diligence and compliance verification. This meticulous approach ensures we safeguard the interests of all stakeholders."

Mr. Riveros has expressed keen interest in reinforcing his partnership with Revolugroup, particularly in areas leveraging the company's technological integrations and regulatory expertise for global expansion both parties agree that this is one of the company's cornerstones not only to preserve but also to expand the licences. These discussions include strategic investments, operational enhancements and exploring new markets aligning with favourable regulatory frameworks.

"I am committed to meeting my agreements with Revolugroup and their shareholders and fostering a partnership that not only meets my ambitious goals but also upholds the highest standards of regulatory compliance and technological efficacy," said Erik A. Lara Riveros, highlighting his vision for the collaboration.

Mr. Riveros has also committed to providing an update e-mail with additional details on the entities that will be involved and the modifications he wishes to see to the terms. Both parties have tentatively scheduled follow-up meetings to continue discussions.

About Revolugroup Canada Inc.

Revolugroup Canada is a multiasset, multidivisional, publicly traded Canadian Company deploying advanced technologies in banking, mobile apps, money remittance, cross-border forex payments, mobile phone top-ups, e-gaming, health care payments, e-sports, invoice factoring, on-line travel, vacation resort, blockchain systems and fintech app sectors.

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