WINNIPEG, Jan. 1 /CNW/ - Exchange Income Corporation (TSX:EIF) (the
"Corporation"), announced today the successful completion of its
acquisition of Bearskin Airlines, a regional airline company providing
passenger service in Ontario and Manitoba. The acquisition was first
announced on September 15, 2010.
The Corporation paid a total purchase price of $32.5 million, of which
15% was paid through the issuance of 314,047 common shares and the
balance, $27.6 million, was financed through its senior credit
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
Perimeter Aviation LP, Keewatin Air LP and Calm Air International LP,
and the specialty manufacturing segment consists of Jasper Tank Ltd.,
Overlanders Manufacturing LP, Water Blast Manufacturing LP, and
Stainless Fabrication, Inc. 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|