Mr. Craig Skauge reports
OLYMPIA FINANCIAL GROUP INC. ANNOUNCES SALE OF OLYMPIA CURRENCY AND GLOBAL PAYMENTS INC.
Olympia Financial Group Inc. has entered into an agreement to sell its wholly owned subsidiary, Olympia Currency and Global Payments Inc. (OCGPI), to Shift Connect Ltd.
OCGPI is a boutique foreign exchange and global payments business providing customized currency exchange and cross-border payment solutions to individuals and small- and mid-sized businesses across Canada.
"This transaction allows Olympia to sharpen its strategic focus while ensuring that Olympia Currency and Global Payments is well positioned for its next phase of growth," said Craig Skauge, executive vice-president of Olympia. "We are confident that Shift Connect is a strong partner for the business, its clients and its employees."
Shift Connect is a Canadian financial services company with a focus on digital payments and financial technology solutions. The acquisition of OCGPI further reinforces Shift Connect's position as a trusted Canadian financial services provider, known for its deep industry experience, strong banking relationships and high-touch client service.
Clients of OCGPI can expect continuity of service, with no immediate changes to day-to-day operations as a result of the transaction. In addition, clients can look forward to enhanced capabilities, including access to more currencies, expanded banking relationships and elevated global payment infrastructure though Shift Connect.
The transaction is subject to Bank of Canada approval under the Retail Payment Activities Act (Canada) and customary closing conditions. It is anticipated that the transaction will be completed on before March 31, 2026.
About Olympia Financial Group Inc.
Olympia Financial Group conducts most of its operations through its subsidiary, Olympia Trust Company, a non-deposit-taking trust company. Olympia Trust Company is licensed to conduct trust activities in Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Newfoundland and Labrador, Prince Edward Island, New Brunswick, and Nova Scotia. Olympia Trust Company administers self-directed registered plan accounts, corporate trust and transfer agency services. Olympia Financial Group also provides currency exchange and global payment services through its subsidiary, Olympia Currency and Global Payments, and offers private health services plans and information technology services to exempt market dealers, registrants and issuers through its subsidiary, Olympia Benefits Inc.
Olympia Financial Group's common shares are listed on the Toronto Stock Exchange under the symbol OLY.
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