Currency Exchange International, Corp. Announces the Closing of Its CDN$9.1 Million Initial Public Offering and the Listing of Its Common Shares and Warrants on the Toronto Stock Exchange

TORONTO, ONTARIO--(Marketwire - March 9, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Currency Exchange International, Corp. (TSX:CXI.S)(TSX:CXI.WT.S) (the "Company") is pleased to announce that it has completed its initial public offering (the "Offering") of 1,380,000 units (the "Units") at a price of CDN$6.65 per Unit for gross proceeds to the Company of CDN$9,177,000. Each Unit is comprised of one common share of the Corporation (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of CDN$7.50 per Common Share at any time on or before 5:00 p.m. (Toronto time) on September 9, 2013. A cash commission of $CDN550,620 was paid and 82,800 broker warrants (the "Broker Warrants") were issued to the Agents (as defined below). Each such Broker Warrant entitles the holder to purchase one Unit at CDN$6.65 per Unit until March 9, 2013.

The Offering, which was fully subscribed including the over-allotment option of 180,000 Units, was carried out by Jones, Gable & Company Limited, as lead agent, and included MGI Securities Inc. (collectively the "Agents"). The Common Shares and the Warrants will commence trading today on the Toronto Stock Exchange ("TSX") under the symbols "CXI.S" and "CXI.WT.S", respectively.

On February 15, 2012, the Company filed a final prospectus (the "Prospectus") in the provinces of Alberta, British Columbia and Ontario, and had earlier received conditional approval to list the Common Shares and Warrants on the TSX. A copy of the Prospectus is available on the Company's SEDAR profile at www.sedar.com.

The net proceeds of the Offering will be used to fund the expansion of the Company's existing areas and markets in both the wholesale and retail sectors, open new areas and markets, expand vault capacity in certain high volume locations, enhance and upgrade the Company's computer and information technology delivery system, continue to develop new products and services, establish new corporate owned retail locations and fund the repayment of short-term debt.

United States Advisory

The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), have been offered and sold outside the United States to eligible investors pursuant to Regulation S promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United States Securities Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available. Hedging transactions involving the securities must not be conducted unless in accordance with the U.S. Securities Act. This News Release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or sale would be unlawful.

About Currency Exchange International, Corp.

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 products and 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 services are provided in Canada by its wholly owned subsidiary based in Toronto, Canada through the use of its proprietary software www.ceifx.ca.

Forward-Looking Statements

This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of the development of new products and services, expansion into new and existing markets, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons including, but not limited to: changes in general economic conditions and conditions in the financial markets; currency exchange risks; future capital needs and uncertainty of availability of additional financing; the competitive nature of the Company's industry; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this News Release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.