Calgary, Alberta–(Newsfile Corp. – March 23, 2026) – Olympia Financial Group Inc. (TSX: OLY) (“Olympia”) announced today that it has entered into an agreement to sell its wholly owned subsidiary, Olympia Currency and Global Payments Inc. (“OCGPI”), to Shift Connect Ltd. (“Shift Connect”).
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 Ltd. 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 Inc. (“OFGI”) 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. OFGI also provides currency exchange and global payment services through its subsidiary Olympia Currency and Global Payments Inc., and offers private health services plans and information technology services to exempt market dealers, registrants, and issuers through its subsidiary Olympia Benefits Inc.
OFGI’s common shares are listed on the Toronto Stock Exchange under the symbol “OLY”.
For further information, please contact:
Olympia Financial Group Inc.
Jennifer Urscheler, Chief Financial Officer
Jonathan Bahnuik, General Counsel & Chief Governance Officer
Phone: (403) 261-0900
Fax: (403) 261-7523
Statements Regarding Forward Looking Information
Certain portions of this press release as well as other public statements by Olympia contain “forward- looking information” within the meaning of applicable Canadian securities legislation, which is also referred to as “forward-looking statements”, which may not be based on historical fact. Wherever possible, words such as “will”, “plans,” “expects,” “targets,” “continue”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “may,” and similar expressions or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved, have been used to identify forward-looking information. Forward-looking statements contained in Olympia’s public disclosure include, without limitation, Olympia’s earnings expectations, fee income, expense levels, general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, business competition, technological change, changes in government regulations, unexpected judicial or regulatory proceedings, catastrophic events, and Olympia’s ability to complete strategic transactions and other factors. In addition, this news release contains forward-looking statements relating to: (a) whether the sale of OCGPI to Shift Connect Ltd. (the “Transaction”) will be completed;(b) whether the Bank of Canada will approve the Transaction; and (c) if the Transaction is completed, the date on which the Transaction is completed.
All material assumptions used in making forward-looking statements are based on management’s knowledge of current business conditions and expectations of future business conditions and trends, including their knowledge of the current interest rate and liquidity conditions affecting Olympia and the Canadian economy. Certain material factors or assumptions are applied by Olympia in making forward- looking statements, including without limitation, factors and assumptions regarding interest and foreign exchange rates, availability of key personnel, the effect of competition, government regulation of its business, computer failure or security breaches, future capital requirements, acceptance of its products in the marketplace, its operating cost structure, the current tax regime and the ability of Olympia to obtain necessary third-party and governmental approvals, as applicable.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289648