Banxa Announces Key Board Changes

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TORONTO and MELBOURNE, Australia, Oct. 16, 2023 (GLOBE NEWSWIRE) --  Banxa Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) ("Banxa" or the "Company") is pleased to share updates regarding its board of directors (the "Board"), to better position the company for its next stage of growth.

CHANGES TO BOARD OF DIRECTORS

• After a 10-year tenure as Founder and Chairman of the Board, Domenic Carosa has decided to retire from his position as Chairman and resign from the Board effective immediately.
  
  
• In his place, Holger Arians, the CEO, has been appointed to the Board and will assume the role of Director & Chairman of the Board.
  
  
• Furthermore, Matthew Cain, non-executive director, has decided to retire and will be stepping down from the Board effective immediately.
  
  
• Finally, Leigh Travers will join the Board as a non-executive director, representing Dominet Digital Investments Pty Ltd ("Dominet"), a company associated with outgoing Chairman Domenic Carosa. Information on this arrangement and Leigh's background are detailed below.

Holger Arians, CEO and Chairman, remarks, "I want to express my gratitude to Domenic for his invaluable contributions to Banxa’s journey thus far. I am also pleased to welcome Leigh Travers, who brings a wealth of crypto and public company experience to our board. As Chairman and CEO, my priorities are crystal clear: to accelerate value creation at Banxa, delivering strong financial results and enabling the embedded crypto future."

Domenic Carosa reflects on his tenure, stating, "After a decade of dedicated service as Chairman of the Board, I believe it's the right time to pass the torch. Banxa has evolved into a new phase of its journey, and I have the utmost trust and respect for Holger and his team, along with the refreshed Board. They are well-positioned to continue steering the Company towards even greater success. I look forward to remaining involved in Banxa as an investor and couldn’t be more excited for the Company’s next stage."