Currency Exchange International, Corp. Announces Approval to Amend Share Buyback Program

About this update from Currency Exchange International, Corp.

[{"type":"text","content":"Currency Exchange International, Corp. Announces Approval to Amend Share Buyback Program\n\n\n\n TORONTO, Aug. 20, 2025 (GLOBE NEWSWIRE) -- Currency Exchange International, Corp.\n \n (“CXI” or the “Company”) (TSX:CXI) (OTCQX:CURN)\n \n today announced acceptance by the Toronto Stock Exchange (the “\n \n TSX\n \n ”) of the Company’s Notice of Intention to amend its normal course issuer bid (the “\n \n NCIB\n \n ”). The amendment is effective as of August 25, 2025, and increases the maximum number of common shares (the “\n \n Shares\n \n ”) of the Company that may be repurchased, from 316,646 Shares to 377,000 Shares, representing 8.09% of the ‘public float’ as at November 18, 2024 and 10% of the ‘public float’ as of today’s date. As of November 18, 2024, CXI had 6,332,931 common shares issued and outstanding.\n \n\n Purchases under the NCIB began on December 2, 2024 and will terminate no later than December 1, 2025. The Company reserves the right to terminate the NCIB earlier if it feels that it is appropriate to do so. Under its current NCIB, as of August 18, 2025, the Company has repurchased 221,400 Common Shares, at a weighted-average price of C$20.84.\n \n\n 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 CXI will be cancelled. The actual number of Shares that may be purchased and the timing of any such purchases will be determined by CXI. Any purchases made by CXI pursuant to the share buyback program will be made in accordance with the rules and policies of the TSX.\n \n\n Under the policies of the TSX, CXI will have the right to repurchase under its share buyback program, during any one trading day, a maximum of 1,000 Shares. In addition, CXI will be allowed to make a block purchase (as such term is defined in the TSX Company Manual) once per week of Shares not directly or indirectly owned by the insiders of the Company, in accordance with TSX policies. CXI will fund the purchases through available cash.\n \n\n In deciding to amend the share buyback program, the Board of directors believes that the market price of the Common Shares may not, from time to time, fully reflec...

More updates from Currency Exchange International, Corp.