WINNIPEG, Oct. 29, 2018 /CNW/ - Exchange Income Corporation
(TSX: EIF) (the "Corporation" or "EIC") announced that PAL Aerospace, an EIC subsidiary, reached a significant milestone in their
Force Multiplier Surveillance Program. PAL's DASH-8 demonstrator surveillance aircraft, has, following a complex process due to
the highly modified state and technical capabilities of the aircraft, received final certification from Transport Canada.
This demonstrator surveillance aircraft is a rapidly deployable asset that can immediately assist clients with the provision
of actionable data/information within a broad range of missions. This modern platform significantly enhances PAL
Aerospace's contracted Intelligence, Surveillance and Reconnaissance (ISR) capabilities worldwide in addition to their historic
surveillance programs. This aircraft has several key differentiators from other ISR assets such as its enhanced onboard
data management capabilities and long range mission ability.
"I would like to congratulate the PAL Aerospace team on their innovation and dedication to completing this new sophisticated
flexible platform for clients around the world and thank Transport Canada for its support and dedication throughout the
certification process", said Mike Pyle, CEO of EIC. "This specialized aircraft, capable of global
operations in all climates, has already generated significant interest during previews at events such as the Dubai Airshow and
EuroNaval 2018 in Paris."
"We are excited about meeting the market demand to provide cost effective state of the art surveillance capabilities to new
and existing clients with this innovative Force Multiplier aircraft", added Brian Chafe, CEO of
PAL Aerospace. "This modern platform sets new benchmarks for flexibility and quick response for ISR clients globally and further
solidifies PAL Aerospace's significant position in this niche market."
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 by 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. 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 Exchange Income Corporation with the securities regulatory authorities, available at www.sedar.com.
SOURCE Exchange Income Corporation
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