WINNIPEG, April 4, 2014 /CNW/ - Exchange Income Corporation (TSX: EIF) (the "Corporation"), announced today that Mr. William Wehrle has tendered his resignation as a director due to personal considerations. Mr. Wehrle is the founder and former President and CEO of the predecessor to Perimeter Aviation LP and has been with Perimeter Aviation LP (or its predecessors) since its inception in 1960. His sale of Perimeter was the catalyst which enabled the Corporation to move forward and become what it is today. He became a trustee of the predecessor to the Corporation and then a director of the Corporation upon its organization. Mr. Wehrle was an active member of the Corporation's Aviation Committee of the board and his advice and input was always appreciated.
Gary Filmon, Chairman of the Corporation, stated "We would like to thank Bill for his commitment and contributions to the growth and development of EIC and wish him all the best in the future."
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, Bearskin Lake Air Service, Custom Helicopters and Regional One, 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 the Corporation, please visit www.exchangeincomecorp.ca.
Additional information relating to the Corporation, including all public filings, is available on SEDAR (www.sedar.com).
The statements contained in today's press release that are forward-looking are based on current expectations and are subject to a number of uncertainties and risks, and actual results may differ materially. These uncertainties and risks include, but are not limited to, the dependence of the Corporation on the operations and assets currently owned by it, the degree to which its subsidiaries are leveraged, the fact that cash distributions are not guaranteed and will fluctuate with the Corporation's financial performance, dilution, restrictions on potential future growth, competitive pressures (including price competition), changes in market activity, the cyclicality of the industries, seasonality of the businesses, poor weather conditions, and foreign currency fluctuations, legal proceedings, commodity prices and raw material exposure, dependence on key personnel, and environmental, health and safety and other regulatory requirements. Further information about these and other risks and uncertainties can be found in the disclosure documents filed by the Corporation with the securities regulatory authorities, available on SEDAR.
SOURCE: Exchange Income Corporation
For further information: Mike Pyle, President and CEO, Exchange Income Corporation, (204) 982-1850, firstname.lastname@example.org; Joe Racanelli, Investor Relations, TMX Equicom, Phone: (416) 815-0700 Ext. 243, email@example.com