2-Feb-2012 Source: Exchange Income Corp
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 onÂ January 12, 2012.
The Corporation paid a total purchase price ofÂ $29 million, of whichÂ $4.3 millionÂ was paid through the issuance of 170,121 common shares and the balance,Â $24.7 million, was paid in cash.
About Exchange Income CorporationÂ
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 inÂ CanadaÂ and/or theÂ 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 byÂ Jasper Tank, Overlanders Manufacturing, Water Blast Manufacturing, Stainless Fabrication and WesTower Communications.Â For more information on Exchange Income Corporation, please visitwww.exchangeincomecorp.ca.
Additional information relating to the Corporation, including all public filings, is available on SEDAR (www.sedar.com).