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REVOLUGROUP PROXY SHAREHOLDER GROUP ADDRESSES LEADERSHIP CRISIS AND DISCLOSURE FAILURES
As of today, , RevoluGROUP remains under a due to its continued failure to file audited financial statements for the fiscal year ending . Despite repeated commitments in board-issued news releases, —annual or interim—have been filed to date.
The last public statement by the board referencing the Proxy Group's proposal was made on , yet , further eroding transparency and shareholder confidence.
The board has consistently refused to disclose the , which was signed without board-wide approval, in violation of the April 25, 2025 , board resolution.
It has come to light that:
In a , the board claimed that , stating:
This statement is demonstrably false. RevoluPAY S.L., the Spanish subsidiary, holds over payable to the Canadian parent company RevoluGROUP CANADA Inc., as documented in publicly filed financial statements. Under applicable Canadian accounting standards (IFRS and NI 51-102), such intra-group liabilities directly affect the subsidiary's financial position and must be repaid to qualify as break-even.
The board's failure to disclose these obligations and mischaracterize the RevoluPAY situation misleads shareholders and violates and regarding material information.
In its , the board indicated that certain previously filed financial statements . Per Sedar+ all such statements from were the acting CEO and director, including:
By seemingly casting doubt on their own filings, directors have introduced significant regulatory risk. Under TSXV and BCSC rules, any potential material misstatements , followed by corrected filings—none of which have occurred. Failure to act swiftly could expose the company to enforcement action under Section 162 of the BC Securities Act, including fines, director bans, and complete delisting.
A review of the board's own public news releases reveals multiple contradictions:
The pattern is clear: , , and have defined the board's conduct.
Since , RevoluGROUP has:
This record speaks for itself. Shareholders deserve leadership, not opacity and regulatory peril.
The RevoluGROUP Proxy Shareholder Group remains committed to full restoration of compliance, financial transparency, and proper governance. We continue to call for immediate action to:
View original content:https://www.prnewswire.co.uk/news-releases/revolugroup-proxy-shareholder-group-addresses-leadership-crisis-and-disclosure-failures-302550861.html