Correction to Currency Exchange International, Corp. Announcement of Renewal of Share Buyback Program and Automatic Securities Purchase Plan
TORONTO, Nov. 26, 2025 (GLOBE NEWSWIRE) -- Currency Exchange International, Corp. (“Currency Exchange” or the “Company”) (TSX:CXI) (OTCQX:CURN)announced today a correction to its news release issued earlier today entitled “Currency Exchange International, Corp. Announces Renewal of Share Buyback Program and Automatic Securities Purchase Plan.” This news release is being republished to correct an error in the average daily traded volume in the initial news release. The complete, corrected news release follows:
Currency Exchange International, Corp. today announced acceptance by the Toronto Stock Exchange (the "TSX ") of Currency Exchange’s Notice of Intention to renew its normal course issuer bid (the "NCIB ") and Automatic Securities Purchase Plan (the “ASPP”) to purchase for cancellation a maximum amount of 359,617 common shares of the Company (“Shares”), representing 10% of the Company’s ‘public float’ as of November 18, 2025.
As of November 18, 2025, Currency Exchange had 6,134,120 common shares issued and outstanding.
Purchases under the NCIB may commence on December 2, 2025 and will terminate on December 1, 2026 or at such earlier date in the event that the maximum number of Shares sought in the NCIB has been repurchased. Currency Exchange reserves the right to terminate the NCIB earlier if it feels that it is appropriate to do so.
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 Currency Exchange will be cancelled. The actual number of Shares that may be purchased and the timing of any such purchases will be determined by Currency Exchange. Any purchases made by Currency Exchange pursuant to the NCIB will be made in accordance with the rules and policies of the TSX.
During the most recently completed six months, the average daily trading volume for the common shares on the TSX was 2,418. Consequently, under the policies of the TSX, Currency Exchange will have the right to repurchase under its NCIB, during any one trading day, a maximum of 1,000 Shares. In addition, Currency Exchange will be allowed to make a block purchase (as such term if defined in the TSX Company Manual) once per week of Shares not directly or indirectly owned by the insiders of Currency Exchange, in accordance with TSX policies. Currency Exchange will fund the purchases through available cash.
CXI’s Group CEO, Randolph Pinna and the Board of Directors believe the underlying value of Currency Exchange may not be reflected in the market price of its common shares from time to time and that, at appropriate times, repurchasing its shares through the NCIB may represent a good use of Currency Exchange’s financial resources, as such action can protect and enhance shareholder value when opportunities or volatility arise. Therefore, the Board of Directors has determined that the NCIB is in the best interest of Currency Exchange and its shareholders.
The Company obtained TSX approval for a previous notice of intention to conduct a normal course issuer bid to purchase up to 377,000 common shares for the period between December 2, 2024 to December 1, 2025 (the “Previous Bid”). Under the Previous Bid, the Company repurchased 323,500 common shares at a volume weighted average price of C$21.30 through the facilities of the TSX as well as on alternative Canadian trading systems at prevailing market rates.
The Company has entered into an ASPP with its broker to allow for the automatic purchase of Shares under the NCIB. Such purchases will be determined by the broker in its sole discretion based on parameters established by the Company in accordance with the rules of the TSX, applicable securities laws and the terms of the ASPP. The ASPP has been pre-cleared by the TSX and will be implemented effective December 2, 2025. 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, Corp. 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, www.cxifx.com (“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: bill.mitoulas@cxifx.com
Website: www.cxifx.com
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 any purchases of Shares under the NCIB will occur. 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.
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