University Bancorp, Inc. Expands Stake in Currency Exchange International

University Bancorp, Inc. (UNIB) has announced the purchase of 6,200 common shares of Currency Exchange International, Corp. (CXI) through the Toronto Stock Exchange. The acquisition was made at an average price of C$20.05 per share, totaling C$124,310. This transaction increases UNIB's holdings to about 10% of CXI’s outstanding common shares.

Prior to this acquisition, UNIB held 9.90% of the shares. The move was disclosed in compliance with Canada's National Instrument 62-103, which addresses take-over bids and insider reporting issues. UNIB's intention is to hold its CXI shares for investment purposes while reviewing investment alternatives and market conditions.

UNIB maintains that the future actions concerning its CXI shares will depend on market dynamics and other financial opportunities. As the situation develops, UNIB may adjust its holdings based on legal allowances.