TORONTO, July 07, 2023 (GLOBE NEWSWIRE) -- Banxa Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) ("Banxa'' or the "Company") announced today that the common shares of the Company will be reinstated for trading on the TSX Venture Exchange, effective Monday, July 10, 2023, in connection with the revocation of the Company’s cease trade order (the "CTO") issued by the British Columbia Securities Commission and the Ontario Securities Commission on November 3, 2022.

The CTO was issued due to the Company’s failure to file its audited financial statements, the related management’s discussion and analysis, and the related certification for the year ended June 30, 2022 (together, the “CTO Financial Statements”).

The CTO Financial Statements have now been filed and are available for review by interested parties on the SEDAR filing system.

The Company has also filed interim financial statements, the related management’s discussion and analysis, and the related certifications for the periods ended September 30, 2022, December 31, 2022 and March 31, 2023. These additional filings are also available for review by interested parties on the SEDAR filing system.

Developments & Webinar

Since November 2022, Banxa has achieved noteworthy corporate progress. The Company went live with premium partners MetaMask, ZenGo, BitMart, TheGraph and AtomicHub, and launched direct payment methods in Mexico, Colombia, Argentina, Colombia and Thailand.

Banxa plans to further expand operations in key markets around the globe. In the coming months, Banxa plans to grow its wide selection of local payment options, particularly in South-East Asia, to increase its market share as a global crypto infrastructure provider. Additionally, Banxa plans to continue establishing strategic alliances with world-class partners.

Banxa continues to enhance its corporate controls and processes, including related to financial management and corporate governance. The Company is dedicated to building the infrastructure to extend the benefits of crypto to merchants and consumers around the world.

Banxa will announce details of a Webinar on Monday and encourages investors to register and attend.

CONTACTS

Media:
Wachsman
Ethan Lyle
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ON BEHALF OF THE BOARD OF DIRECTORS
Per: "DOMENIC CAROSA” https://twitter.com/DomCarosa
Domenic Carosa = Chairman (1-888-218-6863)

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This press release contains statements including “forward-looking information” (“Forward-looking statements”). Forward-looking statements in this news release include statements regarding the date the Company's shares will be reinstated for trading on the TSX Venture Exchange, the Company's plans to expand its operations in new markets, grow its selection of local payment options within the expected timeline, strengthen its position as a crypto infrastructure provider and establish new partnerships. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company's shares will be reinstated for trading on the TSX Venture Exchange on July 10, 2023, that the Company is able to obtain any required government or other regulatory approvals to expand its operations and services, that the Company will form alliances with new partners, and that the Company is able to expand and launch its operations in additional countries. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks may include, among others, the date the Company's shares will resume trading on the TSX Venture Exchange, that the Company will not be able to expand its operations and meet anticipated timelines, the Company will deviate from its current plans, the Company will not form alliances with partners and delays in obtaining or failure to obtain required government or other regulatory approvals or financing to achieve its current goals. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.