Exploring Strategic Opportunities at Currency Exchange International

Currency Exchange International’s Strategic Initiatives

Currency Exchange International, Corp. (TSX: CXI) (OTC: CURN) has embarked on a strategic review of its subsidiary, Exchange Bank of Canada (EBC). This initiative aims to explore various strategic options that could enhance shareholder value and better position the company for future growth. In light of its successful operations in the United States, CXI seeks to refocus its resources to amplify profitability.

Understanding the Strategic Review

The Special Committee of independent directors is charged with the critical task of assessing EBC’s future and identifying opportunities to augment its performance. By conducting this evaluation, the company hopes to unlock greater returns on investment and streamline its operations.

Advisor Engagement and Focus Areas

To ensure a thorough and effective review process, CXI has enlisted the expertise of INFOR Financial Inc., a well-regarded strategic advisor. This collaboration is expected to provide valuable insights and recommendations, guiding the company as it navigates through its strategic options.

Shareholder Interests at the Core

CXI is committed to aligning its strategies with the best interests of its shareholders. Management is dedicated to evaluating potential pathways that will lead to optimal outcomes, ensuring that any changes enhance value, while keeping stakeholders informed throughout the journey.

About Currency Exchange International, Corp.

CXI specializes in delivering foreign exchange technology and processing solutions tailored for banks, credit unions, businesses, and consumers not just in the US, but to select clients worldwide. The company’s diverse range of services includes foreign currency exchange, wire transfers, Global EFTs, and foreign cheque clearing. With an innovative web-based platform, CXIFX, and dedicated APIs, CXI enhances operational efficiency for its wholesale clients. At the retail level, it serves consumers through its network of branches and online platforms.

Expanding Operations with EBC

As a wholly-owned Canadian subsidiary, EBC plays a pivotal role in offering foreign exchange and international payment services across Canada and into other foreign jurisdictions. Utilizing proprietary software assists EBC in delivering exceptional service to its clients, backed by knowledgeable relationship managers.

Contacting Currency Exchange International

For more details on the strategic review or CXI’s operations, interested parties can reach out to Bill Mitoulas in Investor Relations. With a focus on shareholder engagement, CXI remains accessible for inquiries and updates.

Key Contact Information:

Bill Mitoulas
Investor Relations
(416) 479-9547
Email: bill.mitoulas@cxifx.com
Website: www.cxifx.com

Frequently Asked Questions

What prompted the strategic review of the Exchange Bank of Canada?

The review aims to explore strategic options that could enhance long-term shareholder value and allow Currency Exchange International to concentrate on its profitable U.S. operations.

How will the strategic review affect shareholders?

The process is designed to optimize returns on investment and align the company’s strategies with shareholder interests, with minimal disruption anticipated during this time.

Who is assisting in the strategic review process?

INFOR Financial Inc. has been retained as a strategic advisor to guide Currency Exchange International through the evaluation of its options.

What services does Currency Exchange International provide?

CXI offers a variety of foreign exchange services, including currency exchange, wire transfers, Global EFTs, and more, catering to banks, credit unions, businesses, and consumers.

How can I contact Currency Exchange International for more information?

Interested individuals can contact Bill Mitoulas at (416) 479-9547 or email bill.mitoulas@cxifx.com for additional details.

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