THUNDER BAY, Ontario – We are pleased to announce Wasaya Group (“Wasaya”), its shareholders and Exchange Income Corporation (“EIC”) (TSX:EIF) have successfully closed the transaction that was first announced on February 1, 2018.
“Completing this milestone is one of the most significant events in Wasaya’s 29 year history,” said Michael Rodyniuk, President and CEO of Wasaya. “The strength of our combined aviation assets coupled with our capable and motivated people will result in a strong company ensuring Wasaya continues to be a fixture in the communities for years to come. The enhanced level of service in Northern Ontario will benefit the people in our ownership communities as well as those in the non-owner communities we serve. Partnering with EIC is a natural fit. They understand aviation, servicing the north, and of utmost importance they have a great history working with First Nations across Canada to provide quality air service to these communities.”
“Partnering with the communities we serve is fundamental to our values,” said Mike Pyle, CEO of EIC. “This transaction allows us to directly partner and engage with our customers. Wasaya’s strong brand and legacy in northern Ontario provides a solid foundation to expand passenger and cargo service into more communities within the region.”
Carmele Peter, President of EIC, stated “This would not have been possible without the strong working relationship during the establishment of our partnership. This relationship will continue to grow delivering positive results for First Nations People, communities served, travelers, cargo shippers, and our mutual shareholders, all while celebrating and exemplifying success within First Nations’ business.”