• Financial Institutions
  • Corporations
  • Travelers
  • Foreign Bank Note Exchange
  • International Drafts
  • International Wire Transfers
  • Global EFT
  • Foreign Check Clearing
  • Foreign Draft Issuance
  • Travel
  • Technology Companies
  • Payroll
  • Healthcare
  • Nonprofit
  • Partnerships

CXI Announces a New Institutional Shareholder Facilitated Through the Exercise of Employee and Director Options

Ryan June 23rd, 2015
CXI Announces a New Institutional Shareholder Facilitated Through the Exercise of Employee and Director Options

CXI Announces a New Institutional Shareholder Facilitated Through the Exercise of Employee and Director Options

June 22, 2015

Toronto, Ontario - Currency Exchange International, Corp. (“CXI”) (TSX:CXI; OTCBB:CURN) is pleased to announce the sale of 150,599 shares to a new large institutional shareholder.  The shares for this transaction were accumulated by the exercising of some of the vested options held by certain employees and directors of CXI.  Mr. Randolph W. Pinna, Chairman and CEO of CXI stated, “Given the demand for our shares, gaining access to a large block of shares is difficult and we are pleased to facilitate this transaction internally for an important new institutional investor”.  The shares were sold for $34.50 per share, representing an approximate 1.5% discount to the 10-day volume weighted average price on the TSX at the time the transaction was negotiated. As a result of the exercise of the options, certain CXI officers and directors, including the CEO, increased their investment in CXI by a total of 25,575 shares.  The sale is expected to close on June 30, 2015. After the options are exercised, the total number of issued and outstanding common shares of CXI will be 6,117,921.

About Currency Exchange International, Corp.

The Company is in the business of providing a range of foreign currency exchange and related products and services in North America, including the Hawaiian Islands. Primary products and services include the exchange of foreign currencies, wire transfer payments, purchase and sale of foreign bank drafts and international traveler cheques, and foreign cheque clearing. Related services include the licensing of proprietary FX software applications delivered on its web-based interface,  www.ceifx.com (“CEIFX”), and licensing retail foreign currency operations to select companies in agreed locations.

The Company’s services are provided in Canada by its wholly-owned Canadian subsidiary, Currency Exchange International of Canada Corp., based in Toronto, Canada through the use of its proprietary software www.ceifx.ca.

Contact Information

For further information please contact:

Bill Mitoulas

Investor Relations (416) 479-9547

Email: [email protected]

Website: www.ceifx.com


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, proposed entry into the Canadian financial services industry, 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 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, 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, and the regulatory approval process for a new Canadian Schedule I bank, as well as the factors identified throughout this press release and in the section entitled “Risks and Uncertainties” of the Company’s Management’s Discussion and Analysis for Year Ended October 31, 2014. 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.

Tags: Ceifx, News