/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES/
WINNIPEG, MB, April 26, 2021 /CNW/ - Exchange Income
Corporation (TSX: EIF) (the "Corporation") is pleased to announce
that it has closed its previously announced bought deal public
offering (the "Offering") of 2,031,000 common shares (the "Shares")
from treasury through a syndicate of underwriters co-led by
National Bank Financial Inc. and CIBC World Markets Inc. and
including Laurentian Bank Securities Inc., Raymond James Ltd., RBC
Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc.,
BMO Nesbitt Burns Inc., Canaccord Genuity Corp., Cormark Securities
Inc., Wellington-Altus Private Wealth Inc. and ATB Capital Markets
Inc. (the "Underwriters"). The Shares were issued at a price of
$39.40 per Share, for gross proceeds
to the Corporation of $80,021,400.
The Corporation has also granted to the Underwriters an
over-allotment option to purchase 304,650 additional Shares,
representing 15% of the size of the Offering. The over-allotment
option may be exercised until 30 days following the closing of the
Offering.
The net proceeds of the Offering will be used to repay
indebtedness under the Corporation's credit facility until such
funds are required for future acquisitions or other growth
opportunities.
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. 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, COVID-19 and pandemic-related risks, 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, 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, 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. Except as required by
Canadian securities law, the Corporation does not undertake to
update any forward-looking statements; such statements speak only
as of the date made. 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
