WINNIPEG, Feb. 1, 2012 /CNW/ - Exchange Income Corporation (TSX:EIF)
(the "Corporation"), announced today the successful completion of its
acquisition of Custom Helicopters Ltd., a provider of helicopter-based
aviation services in Manitoba and Nunavut. The acquisition was first
announced on January 12, 2012.
The Corporation paid a total purchase price of $29 million, of which
$4.3 million was paid through the issuance of 170,121 common shares and
the balance, $24.7 million, was paid in cash.
About Exchange Income Corporation
Exchange Income Corporation is a diversified acquisition-oriented
company, focused on opportunities in the industrial products and
transportation sectors which are ideally suited for public markets
except for their size. The strategy of the Corporation is to invest in
profitable, well-established companies with strong cash flows operating
in niche markets in Canada and/or the United States.
The Corporation is currently operating in two niche business segments:
aviation and specialty manufacturing. The aviation segment consists of
the operations by Perimeter Aviation, Keewatin Air, Calm Air
International and Bearskin Lake Air Service and the specialty
manufacturing segment consists of the operations by Jasper Tank,
Overlanders Manufacturing, Water Blast Manufacturing, Stainless
Fabrication and WesTower Communications. For more information on
Exchange Income Corporation, please visit www.exchangeincomecorp.ca.
Additional information relating to the Corporation, including all public
filings, is available on SEDAR (www.sedar.com).
SOURCE Exchange Income Corporation
For further information:
| Mike Pyle || || || || || || Joe Racanelli |
| President and CEO || || || || || || Investor Relations |
| Exchange Income Corporation || || || || || || The Equicom Group Inc. |
| (204) 982-1850 || || || || || || Phone: (416) 815-0700 Ext. 243 |
| firstname.lastname@example.org || || || || || || email@example.com |