Currency Exchange International, Corp. (TSX: CXI) (OTCQX: CURN) received approval from the Toronto Stock Exchange to increase the maximum number of shares it may repurchase under its normal course issuer bid from 316,646 shares to 377,000 shares, according to a company statement.
The amendment takes effect August 25, 2025, and represents 10% of the company’s current public float. As of November 18, 2024, CXI had 6,332,931 common shares issued and outstanding.
The share buyback program began December 2, 2024, and will terminate no later than December 1, 2025. As of August 18, 2025, the company has repurchased 221,400 common shares at a weighted-average price of C$20.84.
CXI will purchase shares on the open market through TSX facilities and alternative Canadian trading platforms at prevailing market rates. All purchased shares will be cancelled. The company can repurchase a maximum of 1,000 shares per trading day under TSX policies, with block purchases allowed once per week.
The board of directors stated that the market price of common shares may not reflect their long-term value, making the share purchases an appropriate use of available funds. The company will fund purchases through available cash.
CXI also amended its automatic share purchase plan with its broker to allow for the purchase of up to 377,000 shares under the plan. All repurchases under the automatic plan will count toward the total shares purchased under the normal course issuer bid.
Currency Exchange International provides foreign exchange technology and processing services for banks, credit unions, businesses, and consumers in the United States and select global clients.
