CXI Announces the Exercise of Employee and Director Options
July 25 2018 - 4:00PM
Currency Exchange International, Corp. (TSX:CXI)
(OTCBB:CURN) announces that certain officers, directors and other
option holders of CXI will be exercising options to acquire a total
of 115,638 shares. The holders of the options will
subsequently sell all of the shares acquired on exercise of the
options in pre-arranged transactions. As a result of the
exercise of these options, and after a sale of all of these shares,
the CXI officers and directors will continue to hold the same
number of shares. After the exercise of these options, the total
number of issued and outstanding common shares of CXI will be
6,379,066 shares.
About Currency Exchange International,
Corp.
The Company is in the business of providing a
range of foreign currency exchange technology and processing
services in North America, including the Hawaiian Islands. Primary
products and services include the exchange of foreign currencies,
wire transfer payments, Global EFTs, purchase and sale of foreign
bank drafts and international travelers’ 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 wholly-owned Canadian subsidiary,
Exchange Bank of Canada, based in Toronto, Canada, provides foreign
exchange, cheque clearing and international payment services to
financial institutions and select corporate clients in Canada
through the use of its proprietary software – www.ebcfx.com.
Contact Information
For further information please contact: Bill
Mitoulas Investor Relations (416) 479-9547Email:
bill.mitoulas@ceifx.comWebsite: www.ceifx.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, 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 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, 2017. 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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