/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
WINNIPEG, April 26, 2019 /CNW/ - Exchange Income
Corporation (TSX: EIF) (the "Corporation") is pleased to announce
the completion of its redemption of its 7 year 6.00% convertible
unsecured subordinated debentures due March
31, 2021 (the "Debentures") on April
26, 2019 (the "Redemption Date").
On March 26, 2019, the Corporation
issued a notice of redemption to the holders of the Debentures to
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. Holders of the
Debentures had the option to convert such Debentures into common
shares of the Corporation ("Common Shares") prior to the Redemption
Date at a price of $31.70 per Common
Share. Debentures in the principal amount of $22,436,000 were converted into Common Shares
between March 26, 2019 and the
Redemption Date. On the Redemption Date, Debentures in the
principal amount of $3,130,000 were
redeemed by the Corporation.
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