Currency Exchange International Announces Completion of $14.4 Million Bought Deal Private Placement Financing

TORONTO, ONTARIO--(Marketwired - March 12, 2015) - Further to its news release dated February 20, 2015, Currency Exchange International, Corp. ("CXI" or the "Company") (TSX:CXI)(OTCBB:CURN) is pleased to announce the completion of its previously announced bought deal private placement financing with a syndicate of underwriters led by Laurentian Bank Securities Inc. and which included Industrial Alliance Securities Inc., Jones, Gable & Company Limited and Mackie Research Capital Corporation, pursuant to which 540,000 common shares ("Common Shares") of the Company were issued at a price of Cdn$26.75 per Common Share for aggregate gross proceeds to CXI of Cdn$14,445,000 (the "Offering").

The Common Shares will be subject to a four month and one day statutory hold period in Canada which will expire on July 13, 2015. The Common Shares are also required, for the purposes of US securities laws, to be traded on a ".s" restricted basis for 12 months after the closing date of the Offering, in order to safeguard against the Common Shares being resold into the US. The Company has received conditional approval from the Toronto Stock Exchange ("TSX") to list the Common Shares under a ".s" restricted CUSIP and ticker symbol for the period commencing on or about the expiry of the statutory Canadian hold period on July 13, 2015 until March 12, 2016, at which time the Common Shares will be merged with the already listed and trading common shares of the Company on the TSX under the ticker symbol "CXI". Listing of the Common Shares on the TSX is subject to meeting minimum distribution requirements and certain other customary conditions required under the policies of the TSX, including the filing of supporting documentation. CXI intends to use the net proceeds of the Offering to fund its growing US operations, working capital, and for general corporate purposes.

The Common Shares issued pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Currency Exchange International

The Company is in the business of providing a range of foreign currency exchange and related products and services in North America, including the Hawaiian Islands. Primary products and services include the exchange of foreign currencies, wire transfer payments, purchase and sale of foreign bank drafts and international traveler 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.

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, and the regulatory approval process for a new Canadian Schedule I bank, 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, 2014. 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.