BANXA Announces Revocation of Cease Trade Order and Postponement of Annual General Meeting

TORONTO, July 06, 2023 (GLOBE NEWSWIRE) -- Banxa Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) ("Banxa" or the "Company") is pleased to announce that the Company's cease trade order (the "CTO") issued by the British Columbia Securities Commission and the Ontario Securities Commission on November 3, 2022 has been revoked. The Company has applied to the TSX Venture Exchange (the "Exchange") to have its common share reinstated for trading on the Exchange.

The Company also announces the postponement of its annual general meeting of shareholders ("Meeting"), originally anticipated to take place prior to June 30, 2023, to on or about a date prior to September 28, 2023 in accordance with an extension granted by the British Columbia Registrar. The Company has also provided an undertaking to the British Columbia Securities Commission to hold the Meeting within three months after June 30, 2023. Once the Meeting is scheduled, the Company will deliver to its shareholders a notice of Meeting, an information circular and proxy materials in connection therewith.

The Company is also pleased to announce that Sean Moynihan was appointed as Chief Financial Officer effective January 2, 2023.

CONTACTS

Media:
Wachsman
Ethan Lyle
[email protected]

ON BEHALF OF THE BOARD OF DIRECTORS
Per: "DOMENIC CAROSA"
Domenic Carosa = Chairman (1-888-218-6863)
Email: [email protected]

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 of the Meeting. 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 will hold the Meeting on the expected date. 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 that the Company will hold the Meeting on the expected date. 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.