Currency Exchange International, Corp. Announces Approval to Amend Share Buyback Program

TORONTO, Aug. 20, 2025 (GLOBE NEWSWIRE) -- Currency Exchange International, Corp. (“CXI” or the “Company”) (TSX:CXI) (OTCQX:CURN) today announced acceptance by the Toronto Stock Exchange (the “TSX”) of the Company’s Notice of Intention to amend its normal course issuer bid (the “NCIB”). The amendment is effective as of August 25, 2025, and increases the maximum number of common shares (the “Shares”) of the Company that may be repurchased, from 316,646 Shares to 377,000 Shares, representing 8.09% of the ‘public float’ as at November 18, 2024 and 10% of the ‘public float’ as of today’s date. As of November 18, 2024, CXI had 6,332,931 common shares issued and outstanding.

Purchases under the NCIB began on December 2, 2024 and will terminate no later than December 1, 2025. The Company reserves the right to terminate the NCIB earlier if it feels that it is appropriate to do so. Under its current NCIB, as of August 18, 2025, the Company has repurchased 221,400 Common Shares, at a weighted-average price of C$20.84.

All Shares will be purchased on the open market through the facilities of the TSX as well as on alternative Canadian trading platforms, at prevailing market rates and any Shares purchased by CXI will be cancelled. The actual number of Shares that may be purchased and the timing of any such purchases will be determined by CXI. Any purchases made by CXI pursuant to the share buyback program will be made in accordance with the rules and policies of the TSX.

Under the policies of the TSX, CXI will have the right to repurchase under its share buyback program, during any one trading day, a maximum of 1,000 Shares. In addition, CXI will be allowed to make a block purchase (as such term is defined in the TSX Company Manual) once per week of Shares not directly or indirectly owned by the insiders of the Company, in accordance with TSX policies. CXI will fund the purchases through available cash.

In deciding to amend the share buyback program, the Board of directors believes that the market price of the Common Shares may not, from time to time, fully reflect their long-term value. Accordingly, the purchase of the Common Shares under the amended share buyback program is in the best interests of the Company and an attractive and appropriate use of available funds. Although the Company has a present intention to acquire its Shares pursuant to the share buyback program, the Company will not be obligated to make any purchases and purchases may be suspended by the Company at any time.

The Company has also amended its automatic share purchase plan (the “ASPP”) with its broker to allow for the purchase of up to 377,000 Shares under the ASPP. All repurchases made under the ASPP will be included in computing the number of Shares purchased under the NCIB.

About Currency Exchange International, Corp.

Currency Exchange International is in the business of providing comprehensive foreign exchange technology and processing services for banks, credit unions, businesses, and consumers in the United States and select clients globally. Primary products and services include the exchange of foreign currencies, wire transfer payments, Global EFTs, and foreign cheque clearing. Wholesale customers are served through its proprietary FX software applications delivered on its web-based interface, (“CXIFX”), its related APIs with core banking platforms, and through personal relationship managers. Consumers are served through Group-owned retail branches, agent retail branches, and its e-commerce platform, order.ceifx.com (“OnlineFX”).

Contact Information

For further information please contact:

Bill Mitoulas

Investor Relations

(416) 479-9547

Email:

Website:

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This press release includes forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management’s expectations with respect to, among other things, demand and market outlook for wholesale and retail foreign currency exchange products and services, future growth, the timing and scale of future business plans, results of operations, performance, and business prospects and opportunities. Forward-looking statements are identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “preliminary”, “project”, “will”, “would”, and similar terms and phrases, including references to assumptions.

Forward‐looking information in this release includes, but is not limited to, statements with respect to: the timing of purchases under the NCIB and ASPP, the Company’s belief that the NCIB is advantageous to shareholders and that underlying value of the Company may not be reflected in the market price of its common shares and whether the Company will make any purchases of Shares under the NCIB. Forward-looking information is based on the opinions and estimates of management at the date such information is provided, and on information available to management at such time. Forward-looking information involves significant risks, uncertainties and assumptions that could cause the Company’s actual results, performance, or achievements to differ materially from the results discussed or implied in such forward-looking information. Actual results may differ materially from results indicated in forward-looking information due to a number of factors including, without limitation, the competitive nature of the foreign exchange industry, the impact of infectious diseases or the evolving situation in Ukraine on factors relevant to the Company’s business, currency exchange risks, the need for the Company to manage its planned growth, the effects of product development and the need for continued technological change, protection of the Company’s proprietary rights, the effect of government regulation and compliance on the Company and the industry in which it operates, network security risks, the ability of the Company to maintain properly working systems, theft and risk of physical harm to personnel, reliance on key management personnel, global economic deterioration negatively impacting tourism, volatile securities markets impacting security pricing in a manner unrelated to operating performance and impeding access to capital or increasing the cost of capital as well as the factors identified throughout this press release and in the section entitled “Risks and Uncertainties” of the Company’s most recent Management’s Discussion and Analysis filed on SEDAR+. The forward-looking information contained in this press release represents management’s expectations as of the date hereof (or as of the date such information is otherwise stated to be presented) and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this press release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this press release.