Banxa Launches Employee Share Purchase Plan and Completes Sale of Non-Core Asset

TORONTO, July 4, 2024 /CNW/ - Banxa Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) ("Banxa'' or the "Company") is pleased to announce the launch of an Employee Share Purchase Plan ("ESPP"), allowing employees to purchase shares in Banxa on the TSXV and participate in the future upside. The plan will be rolled out in the month of July 2024 for Banxa's Australian, US, Europe and UK based employees.

Holger Arians, Chairman and CEO, said: "We are launching the ESPP to facilitate employees increasing their participation in Banxa's upside. I believe this plan will foster an ownership mindset and create greater alignment amongst employees to Banxa's long term success. Employees can now more adequately take part in our collective performance as we continue to drive innovation."

Key ESPP Terms

• Employee contribution of up to 10% of gross pay
• 40% employer matching, subject to one year lock-up
• Contributions remitted automatically on a monthly frequency

NON-CORE ASSET SALE

On June 25, 2024, Banxa completed the sale of a non-core asset, the domain name Bitcoin.co.uk, for EUR $266,500 (USD $287,514). Total consideration of EUR $239,835 (USD $258,746) was received on June 25, 2024 - consideration price included a commission fee of EUR $26,650 (USD $28,751). The carrying value of the domain name at the date of disposal was nil.

ABOUT BANXA HOLDINGS INC.

Banxa is the leading infrastructure provider for enabling embedded crypto - empowering businesses to embed crypto seamlessly into their existing platforms and unlocking new opportunities in the rapidly evolving crypto economy. Through an extensive and growing network of global and local payment solutions and regulatory licenses, Banxa helps businesses provide seamless integration of crypto and fiat for global audiences with lower fees and higher conversion rates. Headquartered in the USA, Europe, and Asia-Pacific, the Banxa team is building for a world where global commerce is run on digital assets. For further information visit www.banxa.com.

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.

ON BEHALF OF THE BOARD OF DIRECTORS
Per: "Zafer Qureshi"
Zafer Qureshi = Executive Director and Head, Corporate Affairs, [phone]

Forward-Looking Information

This 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" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "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 discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. 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. We seek safe harbor.

SOURCE Banxa Holdings Inc.

CONTACTS: Investors: Zafer Qureshi, [email protected]