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Banxa Holdings Inc. Reports Results of Its Annual General and Special Meeting

Banxa Holdings Inc. Reports Results of Its Annual General and Special Meeting

Banxa Holdings Inc. (TSXV:BNXA)(OTCQX:BNXAF)(FSE:AC00) ("Banxa" or the "Company") is pleased to announce that all matters submitted to shareholders for approval as set out in detail in the Company's management information circular ("Circular") dated February 16, 2022 were approved at the annual general and special meeting of the shareholders of the Company held on March 31, 2022 (the "Meeting"). At the Meeting RSM Canada LLP was re-appointed as auditor of the Company, and the incumbent members of the board of directors, being Doron Cohen, Domenic Carosa, Matthew Cain and Joshua Landau were re-elected

In addition to the above, disinterested shareholders of the Company voted in favour of making certain amendments to the escrow agreement dated September 27, 2018 (the "Escrow Agreement") among the Company (formerly as A-Labs Capital I Corp.), TSX Trust Company and certain shareholders of the Company, to align the Escrow Agreement with changes made to the TSX Venture Exchange ("TSXV" or the "Exchange") Policy 2.4 - Capital Pool Companies, which became effective as at January 1, 2021 (the "New CPC Policy").

Pursuant to the New CPC Policy, the Company wished to amend the Escrow Agreement to reduce the length of the term of the escrow release provision in the Escrow Agreement from 36 months to 18 months as permitted by Section 10.2 of the New CPC Policy (the "Escrow Amendment"). As required under the New CPC Policy, the Company obtained disinterested shareholder approval of the Escrow Amendment, by way of specific separate resolutions at the Meeting.

Further details relating to the proposed Escrow Amendment are disclosed in the Circular which is available on the Company's profile at www.sedar.com.

The Escrow Amendment remains subject to the approval of the TSXV.

New Stock Option Plan

The Company is also pleased to announce that its proposal to adopt a new rolling 10% stock option plan (the "New Option Plan") as a result of certain amendments made to TSXV Policy 4.4 - Security Based Compensation ("Policy 4.4") which came into effect on November 24, 2021, was approved by way of specific separate resolutions at the Meeting. The New Option Plan replaces and supersedes the Company's previous 10% rolling stock option plan adopted on December 16, 2019. For more information on the changes to Policy 4.4, please see the TSXV Bulletin re Policy 4.4 - Security Based Compensation (November 24, 2021).

The New Option Plan is subject to the approval of the TSXV.

ON BEHALF OF THE BOARD OF DIRECTORS

Per: "DOMENIC CAROSA"
Domenic Carosa
Chairman (+1-888-218-6863)

About BANXA

BANXA (TSX-V:BNXA - Banxa Holdings Inc.) is a Payment Services Provider (PSP) with a mission to build the bridge between traditional financial systems, regulation and the digital asset space. Our goal is to onboard the general public to digital currency by building a fully compliant payment infrastructure that enables simple and secure conversion of fiat currency to digital currency (USD/CAD to BTC/ETC). Banxa has offices in Australia and the Netherlands. For further information, see www.banxa.com

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither 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.

Investor Relations:

North America: +1 (604) 609 6169
International: +61 451 744 080
Email: investor@banxa.com

Lytham Partners, LLC New York/Phoenix
Ben Shamsian
Email: shamsian@lythampartners.com

Media Contacts:

Liam Bussell, Head of Corporate Communications
Email: liam@banxa.com

CAUTIONARY NOTE WITH RESPECT TO FORWARD-LOOKING STATEMENTS

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding, the Company's expectation to complete the Escrow Amendment and adopt the New Option Plan, and the receipt of Exchange approval for the Escrow Amendment and New Option Plan.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the failure of the Company to receive Exchange approval for the Escrow Amendment and the New Option Plan.

In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company's ability to accurately comply with the New CPC Policy and receive Exchange Approval for the Escrow Amendment, and the Company's ability to accurately comply with the new Policy 4.4 and receive Exchange approval for the New Option Plan.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. The Company seeks safe harbor.

SOURCE: MZHCI, LLC



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Keynotes, Educational Panels and 88 Companies to Present at the Planet MicroCap Showcase on May 3-5, 2022 at Bally's Hotel & Casino in Las Vegas, NV

Keynotes, Educational Panels and 88 Companies to Present at the Planet MicroCap Showcase on May 3-5, 2022 at Bally's Hotel & Casino in Las Vegas, NV

SNN Network presents the Planet MicroCap Showcase taking place on May 3-5, 2022, where 88 MicroCap public and private companies will be presenting at Bally's Hotel & Casino in Las Vegas, NV

Event website: www.PlanetMicroCapShowcase.com

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BANXA Announces AUD $106 Million February Transaction Volume & Secures Cryptocurrency Custody Registration

BANXA Announces AUD $106 Million February Transaction Volume & Secures Cryptocurrency Custody Registration

Highlights:

  • February 2022 Total Transaction Volume (TTV) of AUD $106 million (USD $76 million) up 48% Year-on-Year
  • Five new partners signed in February, including TokenPocket, ApolloX, IDEX, Sologenic and IX Swap
  • Added two new fiat currencies in February, now supporting a total of 32
  • Secured Netherlands cryptocurreny custody registration from the Dutch National Bank (DnB)

Banxa Holdings Inc. (TSXV:BNXA)(OTCQX:BNXAF)(FSE:AC00) ("Banxa" or "The Company"), the world's first listed payment service provider (PSP) and RegTech platform for the digital assets industry, has today announced its February 2022 TTV, recording AUD $106 million (USD $76 million), and growth of 48% Year-on-Year. The TTV is broadly in line with the decline in volumes of the overall cryptocurrency market

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Banxa Breaks Down Crypto Barriers by Launching World-Leading Layer 2 Fiat On-Ramp

Banxa Breaks Down Crypto Barriers by Launching World-Leading Layer 2 Fiat On-Ramp

Banxa Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) ("Banxa" or "The Company"), payment service provider (PSP) and RegTech platform for the digital assets industry, is proud to announce the launch of its world-leading Layer 2 (L2) Fiat On-Ramp.

While the cryptocurrency market has significantly grown, heavy fees and complex purchasing systems have weighed upon the industry providing unnecessary complexities and barriers to entry. The Australian-founded organisation, Banxa, has developed purchasing for a range of L2 protocols - available now - to eliminate these barriers. These protocols currently include Arbitrum, Optimism, and zkSync, allowing users to pay with Banxa's wide range of global and local payment options, including credit card and bank transfers, for direct purchasing on L2.

The L2 Fiat On-Ramp will completely disrupt the current system by removing high "gas fees" accumulated throughout the crypto transaction process. At the same time, it will also be a catalyst to reducing fulfillment times, an issue faced within an industry that prides itself on agility and fast transactions. In 2021, Banxa processed one order every 18 seconds a day, a transaction value over USD 880 million, showcasing the true scale of transactions moving through the market.

"The crypto industry faces a complex web of challenges and barriers that might have discouraged consumers and merchants from making purchases in the past. The launch of our L2 Fiat On-Ramp offers greater accessibility to a whole new audience, breaking down two key entry barriers: high fees and faster processing times. We are honored to be launching this world-leading product as a way to transform the industry," said Banxa CEO Holger Arians.

Banxa is a pioneer in cryptocurrency as it has created its own technology on blockchain and is rapidly expanding. The business offers a market-leading range of currencies and payment methods globally.

Since its January 6th, 2021 IPO, Banxa has gone from strength to strength, growing from 38 to over 200 team members, adding over 31 new coins and additional payment methods, such as SEPA Instant and others. Additionally, the company has accelerated its already rapid onboarding of new partners, securing 103% growth in 2021 alone.

In celebration of this launch, Banxa is offering free purchasing Layer 2 with Optimism, Arbitrum and zkSync for a limited time[2]. User's spread fees will be waived; however, standard payment surcharges will apply, such as credit card transaction fees. This offer is now available to all users on these protocols.

ENDS

About Banxa

Banxa Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) powers the world's largest digital asset platforms by providing payments infrastructure and regulatory compliance across global markets. Banxa's vision and mission is to build the bridge that provides people in every part of the world access to a fairer and more equitable financial system. Banxa is headquartered in Melbourne, Australia, with European headquarters in Amsterdam, the Netherlands.

For further information, go to www.banxa.com

This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies.

These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance.

Banxa's statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of Banxa's control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties of the Company's business, including: Banxa's assumptions in making forward-looking statements may prove to be incorrect; adverse market conditions, including risks related to COVID-19 and risks that future results may vary from historical results.

Except as required by securities law, Banxa does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.

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

---------------------

ON BEHALF OF THE BOARD OF DIRECTORS
Per: "DOMENIC CAROSA" https://twitter.com/dcarosa
Domenic Carosa
Chairman (1-888-218-6863)

CONTACTS:
Investor Relations:
North America: +1 (604) 609 6169
International: +61 407 790 016
Email: Investor@banxa.com

Lytham Partners, LLC
Ben Shamsian
New York/Phoenix
Email: shamsian@lythampartners.com

Media Contacts:
Dave Malcolm, Chief Marketing Officer
Email: dave.malcolm@banxa.com

Michelle Boland, PR Group
Email: michelleb@prgroup.com.au

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In consideration for the Transaction, Midpoint proposes to issue 10,000,000 common shares (the "Consideration Shares") to the existing shareholders of BWL (collectively, the "Vendors"). The Consideration Shares will be subject to restrictions on resale until the date which is six (6) months from the closing date of the Transaction.

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