12:13 PM EST - Exchange Income Corporation : announced today that it has signed a letter of intent to acquire the airline operations and assets of Bearskin Airlines, a privately-owned commuter airline providing passenger service in Ontario and Manitoba. The acquisition is valued at $32.5 million and will be funded through the issuance of the Corporation's common shares and debt financing. The acquisition is expected to be immediately accretive to Exchange's earnings per share and distributable cash per share. Pending final due diligence and satisfaction of typical conditions, the transaction is expected to close in the fourth quarter. Exchange Income Corporation
shares T.EIF are trading down .02 at $15.84.
