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WINNIPEG, MB, May 26, 2021 /CNW/ - Exchange Income
Corporation (TSX: EIF) (the "Corporation") is pleased to announce
the that it has closed an over-allotment option (the
"Over-Allotment Option") that was partially exercised by a
syndicate of underwriters to the Offering (as defined herein)
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"), to purchase an
additional 205,000 common shares of the Corporation ("Shares") at a
price of $39.40 per Share for
aggregate proceeds of $8,077,000. The
Over-Allotment Option was granted to the Underwriters in connection
with the bought deal public offering completed by the Corporation
on April 26, 2021 (the "Offering").
After giving effect to the Over-Allotment Option, a total of
2,236,000 Shares have been issued pursuant to the Offering for
aggregate gross proceeds of $88,098,400.
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
