WINNIPEG, April 24, 2019 /CNW/ - As previously announced on
March 26, 2019, Exchange Income
Corporation (TSX: EIF) (the "Corporation" or EIC") will redeem all
issued and outstanding 7-year 6.00% convertible unsecured
subordinated debentures maturing on March
31, 2021, on April 26,
2019.
In response to enquiries EIC has been receiving regarding
debenture conversion and redemption deadlines, the Corporation
would like to confirm these deadlines for our Debenture
holders.
The deadline for receipt of a notice of conversion is
3:00 p.m. eastern time on Thursday,
April 25, 2019. All holders of Debentures who do
not deliver a notice of conversion on or prior to this deadline
will have their Debentures redeemed for cash on the Redemption
Date.
The Redemption Date for the Debentures is April 26, 2019. The Corporation will redeem
all issued and outstanding Debentures at a redemption price equal
to their principal amount, plus accrued and unpaid interest thereon
up to, but excluding, the Redemption Date.
About Exchange Income Corporation
Exchange Income Corporation is a diversified
acquisition-oriented company, focused in two sectors: aerospace
& aviation services and equipment, and manufacturing. The
Corporation uses a disciplined acquisition strategy to identify
already profitable, well-established companies that have strong
management teams, generate steady cash flow, operate in niche
markets and have opportunities for organic growth.
The Corporation currently operates two segments: Aerospace &
Aviation and Manufacturing. The Aerospace & Aviation segment
consists of the operations of Perimeter Aviation, Keewatin Air,
Calm Air International, Bearskin Lake Air Service (operating as a
division of Perimeter Aviation), Custom Helicopters, Regional One,
Provincial Aerospace and Moncton Flight
College, and an investment in Wasaya Group. The
Manufacturing segment consists of the operations of Overlanders
Manufacturing, Water Blast, Stainless Fabrication, WesTower
Communications, Ben Machine and Quest Window Systems. 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).
Caution concerning forward-looking statements
The statements contained in this news 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 Exchange Income 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, the risk of shareholder liability,
competitive pressures (including price competition), changes in
market activity, the cyclicality of the industries, seasonality of
the businesses, poor weather conditions, 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 at www.sedar.com.
SOURCE Exchange Income Corporation