Business: Currency exchange announces appointment of interim CFO

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TORONTO, Sep 01, 2021 (News) – Currency Exchange International, Corp. (TSX: CXI) (OTCBB: CURN) (“CXI“or the”Society”), A full service provider of foreign exchange technology and services, is pleased to announce that effective today, Alan Stratton, CPA, CA, has been appointed Interim Chief Financial Officer of the Company. and Interim Chief Financial Officer of Exchange Bank of Canada, the wholly owned Canadian subsidiary of the company operating as a Schedule 1 Canadian bank.

Mr. Stratton has been Vice President, Finance of The Exchange Bank of Canada since January 2020, where he is responsible for financial reporting, taxation, capital management and regulatory compliance matters. Mr. Stratton has previous experience as the Chief Financial Officer of a public company, including all aspects of financial reporting, equity and debt financing and investor relations. He holds a bachelor’s degree in commerce, finance and accounting from Ryerson University.

CXI recognizes Stephen Fitzpatrick for his service as Chief Financial Officer of the Company and the Exchange Bank of Canada. Mr. Fitzpatrick has decided to step down for personal reasons and we thank him for his contribution to the organization.

A search process has begun for a permanent CFO at the Company and at the Exchange Bank of Canada.

About Currency Exchange International, Corp.

Currency Exchange International provides comprehensive foreign exchange technology and processing services for banks, credit unions, businesses and consumers in the United States and to select clients around the world. Major products and services include foreign currency exchange, wire transfer payments, global wire transfers, and foreign check clearing. Wholesale customers are served through its proprietary foreign exchange software applications provided on its web interface, www.cxifx.com (“CXIFX”), its associated APIs with major banking platforms and through personal relationship managers. Consumers are served through Company-owned retail branches, agent retail branches and its order.ceifx.com (“OnlineFX”) e-commerce platform.

Exchange Bank of Canada, the Company’s wholly owned Canadian subsidiary based in Toronto, Canada, provides foreign exchange and international payment services in Canada and certain international foreign jurisdictions. Customers are served through the use of its proprietary software, www.ebcfx.com (“EBCFX”), APIs associated with major banking platforms and personal relationship managers.

Contact details

For more information, please contact: Bill MitoulasInvestor Relations (416) 479-9547 Email: [email protected] Website: www.cxifx.com

CAUTION REGARDING FORWARD-LOOKING INFORMATIONThis press release contains forward-looking information within the meaning of applicable securities laws. Such forward-looking information includes, or may be based on, estimates, forecasts and statements regarding management’s expectations regarding, among other things, the demand and market outlook for wholesale and retail foreign exchange products and services. , the proposed entry into the Canadian financial services industry, future growth, timing and extent of future business plans, results of operations, performance and business prospects and opportunities. Forward-looking statements are identified by the use of terms and expressions such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may” , “Plan”, “predict”, “preliminary”, “project”, “will”, “would”, and similar terms and expressions, including references to assumptions.

Forward-looking information is based on the opinions and estimates of management as of the date on which such information is provided, and on information available to management at that 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 shown in the forward-looking information due to a number of factors including, without limitation, the competitive nature of the forex industry, the impact of the COVID-19 coronavirus on factors relevant to the Company’s business, the exchange rate risks, the need for the Company to manage its expected growth, the effects of product development and the need for continuous technological change, protection of property rights the Company, the effect of government regulations and compliance on the Company and the industry in which it operates, network security risks, the Company’s ability to maintain properly functioning systems, theft and risk of physical damage to staff, dependence on key management personnel, deterioration of the global economy negatively impacting tourism, markets és volatile stock markets affecting the pricing of securities in a manner unrelated to operating performance and hamper access to capital or increase the cost of the cap as well as the factors identified throughout this press release and in the section entitled “Risks and uncertainties” of the Company’s management report for the fiscal year ended October 31, 2020. The forward-looking information contained in this press release represents management’s expectations as of the date hereof (or as of the date at which this information is otherwise indicated as being presented), and is subject to change after this 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 by applicable securities laws.

The Toronto Stock Exchange accepts no responsibility for the adequacy or accuracy of this press release. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained in this press release.

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