Currency Exchange International Announces Voting Results from Annual General Meeting March 7, 2019 and new members of the bo...
09 March 2019 - 10:00AM
Currency Exchange International, Corp. (TSX: CXI) (OTC
Pink: CURN) (the "Company") is pleased to announce the
detailed voting results for the election of its Board of Directors,
which took place at the Company's Annual General Meeting held on
March 7, 2019 (the "Meeting"). The nominees listed in the
management information circular dated January 23, 2019 were elected
as directors of the Company at the Meeting. Detailed results of the
vote are set out below:
Nominee |
Votes
For |
% |
Withheld |
% |
Joseph August |
4,743,922 |
99.89 |
5,014 |
0.11 |
Chirag Bhavsar |
4,743,922 |
99.89 |
5,014 |
0.11 |
Johanne Brossard |
4,748,926 |
100 |
10 |
0.00 |
Chitwant Kohli |
4,748,326 |
99.88 |
610 |
0.01 |
Mark Mickleborough |
4,405,076 |
92.76 |
343,860 |
7.24 |
Randolph W. Pinna |
4,677,673 |
98.50 |
71,263 |
1.50 |
V. James Sardo |
4,534,973 |
95.49 |
210,754 |
4.51 |
The Company is also pleased to announce that
subsequent to the Meeting, the Board of Directors of the Company
appointed Daryl Yeo to serve as a Director of the Corporation
effective March 8, 2019, until the next meeting of shareholders of
the Company.
Mr. Yeo is an experienced board director and
retired senior executive with a proven track record of over 40
years in the financial services industry covering a broad spectrum
of consumer and business client markets, trade finance and treasury
management. He has also played an instrumental role in the
establishment of a Schedule 1 bank in Canada, with his involvement
including oversight of all operational policies, establishment
& implementation of an enterprise risk management framework,
and implementation of internal financial controls. Since 2007, he
has held the ICD.D designation.
About Currency Exchange International,
Corp.
The Company is in the business of providing a
range of foreign exchange technology and processing services in
North America. 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 and international payment services to financial
institutions and select corporate clients in Canada through the use
of its proprietary software – www.ebcfx.com.
Contact InformationFor further information
please contact: Bill MitoulasInvestor 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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