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Monday, 5 March 2018

CUV Ventures Corp Signs DA To Acquire Stake In Duales Inc, A Canadian Domiciled Fintrac Licensed Remittance Company Founded in 1994


CUV Ventures Corp Signs DA To Acquire Stake In Duales Inc, A Canadian Domiciled Fintrac Licensed Remittance Company Founded in 1994

VANCOUVER, British Columbia, March 05, 2018 (GLOBE NEWSWIRE) -- CUV Ventures Corp. (TSX-V:CUV) (the "Company")  is pleased to announce that it has signed a definitive agreement to acquire a 10% minority stake in Duales Inc., a specialist in Caribbean remittances since 1994 and, duly licensed Canadian FINTRAC MSB (Money Service Business) entity, certified to operate in; foreign exchange, money transferring, Money Orders Provision, Traveller Cheques, Check cashing & Payday Loans and remittance sectors.

Significance of the stake in Duales Inc

Shareholders are advised that with the minority acquisition of Duales Inc. and, resulting equity partnership, deliveries of remittances through the blockchain secured Revolupay® app, into select Caribbean and South American markets, can be ensured as both standard financial deposit and personalized home delivery scenarios. Further, as Duales Inc. is a licensed FINTRAC MSB (Money Service Business), Revolupay® app users and the company will be afforded the utmost in financial safeguards.

While developing Revolupay®, management has compiled a concise list of criticism from remittance recipients using current international competitors. The overwhelming complaint being, that many remittance beneficiaries, especially the old and frail, found it extremely traumatizing to travel great distances, wait in line in extreme heat and, often times, be ultimately unsuccessful in obtaining their remittance monies, due to: local inconsistent electricity, computer/network failures or admin related difficulties. Many of these grievances are amply voiced across the internet. Management wishes to launch Revolupay® as, not only the fastest and, doubtless cheapest, remittance service but, also the most convenient, with a full home delivery option in select markets.

In the western world, we often overlook how much of a crucial lifeline family remittances play in supporting family or friends still living in home countries. Remittance senders ultimately seek a speedy and secure mobile app, standard local bank or card deposits, cash collection and, additional options of home delivery of the funds. The ability to make multiple remittance payments from a single digital wallet is also something requested by remittance senders and, this is something that Revolupay® will seamlessly permit. Revolupay® already promises to be the most convenient mobile app and, through this latest acquisition of Duales Inc., will ensure funds arrive safely in the hands of family and friends, even directly to their homes. This extra level of service promises to position Revolupay® well above its traditional competitors. Steve Marshall, CUV Ventures CEO, commented on the Duales Inc. deal; "the acquisition of minority equity in Duales Inc. brings us closer to our corporate goals for the Caribbean and South American roll-out of Revolupay®. Management and I will continue to conclude deals of this nature to ensure the broadest worldwide use of Revolupay® within the remittance user communityHenry Martinez, Duales CEO, stated; "Revolupay® allied to our long history at Duales Inc. as a major purveyor of remittances, promises to guarantee both fast remittance set-up and also delivery, my team and I look forward to working with the Revolupay® team of CUV Ventures to welcome clients, new and old, to the Revolupay® platform"

Financial Terms of the Acquisition in Duales Inc.

The purchase price for the 10% equity of Duales Shares is one hundred and two thousand five hundred Canadian dollars (C$102,500) which will be paid by the issuance to the Vendor, Lemargo Inc, of 500,000 common shares in the capital stock of CUV Ventures Corp at 0.165 C$ and the payment of C$20,000 in cash.

Highlights of Duales acquisition

  • Established Remittance Business Founded in 1994
  • FINTRAC MSB Licenced
  • Canadian Domiciled
  • Large client user base
  • The first entity to implement remittances online using diverse payments methods
  • Both bank and home delivery options in select locations
  • Extra delivery support for Revolupay® in select markets

About Duales Inc

Duales Inc. was founded in 1994 by dual Canadian/Cuban Citizen Henry Martinez Gonzalez who continues as CEO & President. Over the past 24 years, the company has built a solid reputation in the Caribbean (including Cuba) and South American financial remittance industry. Domiciled in Toronto Canada, Duales Inc has enacted 100s of thousands of remittance transactions for over two decades. Duales Inc. is unique in that it doesn't only afford direct bank or card deposit for remittance deliveries, it also specializes in home remittance deliveries, a niche and popular service in Caribbean nations, where public transportation is largely deficient and remittance recipients find locally domiciled remittance offices to be disorganized and troublesome.

Henry Martinez to Join Advisory Board

Mr. Martinez is the founder of Duales Inc., a graduate of Saint Petersburg State University in Russia in International Economic Relations and of The Indian Institute of Foreign Trade in India. His initial career was in the Foreign Trade industry. In 1994, he founded Lemargo Inc., an international wholesaler of biomedical products managing over 1000 suppliers from North America, Europe and Asia and Duales Inc., a wholly owned subsidiary in the P2P and B2B payment processing and remittance industry with a highly visible online presence. Mr Martinez is also a Director of Morrison Laurier, a Mortgage Investment Corporation with over C$ 80 million Portfolio under management. Mr. Martinez is fluent in Russian, Spanish and English. In 2009, he enrolled in the Owner/President Management Program of the Harvard Business School which was completed in 2011.

The Company has entered into a consulting agreement with Mr. Martinez and granted Mr. Martinez stock options exercisable to purchase up to 300,000 common shares of the Company at a price of $0.165 each for a period of 5 years from the grant date.

About CUV Ventures Corp.:

CUV Ventures Corp. is a multi-asset, multidivisional publicly traded Canadian company deploying advanced technologies in the; Money Remittance, Crypto Mining, Mobile Apps, Online Travel, Vacation Resort, Blockchain Systems, Invoice factoring and Cryptotoken sectors.

Our flagship technology is Revolupay®, the Apple and Android multinational remittance app, powered by blockchain protocols, and aimed at the worldwide + $150 billion family remittance market.

The Colón 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, a duly licensed and bonded online travel company, Amadeus GDS affiliated, digital & 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 as well.

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 now controls important print and digital media assets, reaching 10s of millions of consumers globally.

In 2018, the company acquired equity in the Toronto; Canada based, duly FINTRAC licensed, remittance company Duales Inc. as part of the Revolupay® remittance app partner network.

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 comercial 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 $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 121,282,901 shares issued and outstanding.


Steve Marshall

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


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.

This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Cuba Ventures Corp., 777 Dunsmuir Street suite 1610, Vancouver, BC V7Y 1K4, Canada
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