Currency Exchange International, Corp. Announces Strategic Decision to Discontinue Operations of its Subsidiary, Exchange Bank of Canada, Pursue Referral Agreements with Appropriate Parties, and Seek Discontinuance from the Bank Act

TORONTO, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Currency Exchange International, Corp. (“CXI” or the “Company”) (TSX: CXI) (OTC: CURN), today announced its decision to cease the operations of its wholly-owned subsidiary, Exchange Bank of Canada (“EBC”), a federally chartered, non-deposit-taking, non-lending Canadian Schedule I bank. Following the cessation of operations, EBC intends to apply to the Minister of Finance (Canada) to discontinue from the Bank Act. The voluntary discontinuance is expected to be completed in the 4th quarter of 2025, subject to receipt of all necessary regulatory approvals.

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