Exchange Income Corporation marks Atik Mason Indigenous Pilot Pathway expansion to Rankin Inlet

Press Release

WINNIPEG, Manitoba – August 28, 2024 – As Canada’s National Day for Truth and Reconciliation approaches, Exchange Income Corporation (TSX: EIF) (“EIC” or the “Corporation”) a diversified, acquisition-oriented company focused on opportunities in the Aviation & Aerospace and Manufacturing segments, marks the successful completion of the Atik Mason Pilot Pathway’s (the “Pathway”) first season in Rankin Inlet, Nunavut. The Pathway program removes significant barriers to flight training faced by Indigenous students including cost and location and honors the importance of retaining a deep connection to Indigenous culture while training.

The seasonal base expansion included 2 training aircraft, 3 instructors, as well as cultural support and lodging for the Rankin Inlet inaugural class of 8 Indigenous students. EIC was proud to celebrate the student’s graduation on August 27 and honored their growth and achievements as aviators. In their first year, students worked towards completing their recreational pilot permit and will have the opportunity to continue training with EIC subsidiary, MFC Training, on Canada’s east coast while working towards their commercial pilot license. Thereafter, they will be offered employment as pilots with one of EIC’s operating subsidiaries.

“EIC is proud to continue to partner with the communities we have had the privilege of serving, for more than 50 years, by offering this fully funded aviation training opportunity to students in their home communities. The expansion of the training base to Rankin Inlet is the most northernly flight training school in Canada and the first of its kind in Nunavut” stated Mike Pyle, CEO of EIC. He continued, “Integral to the success of the student training was moving the program to the people versus the people to the program.”

“The program inspired me to pursue a career in aviation, while being able to train in the North” proclaimed Seeka Veevee, a student at the Rankin Inlet base who was born in Iqaluit, Nunavut. She continued, “the instructors were supportive of my efforts, they encouraged me to keep going, and never gave up on me or my fellow students.” Seeka plans to continue training with MFC Training to obtain her commercial pilot license with the end goal of working for Keewatin Air.

EIC also looks forward to celebrating the student pilots from the Thompson, Manitoba base on September 24.

About Exchange Income Corporation

Exchange Income Corporation is a diversified acquisition-oriented company, focused in two segments: aerospace & aviation 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.sedarplus.ca).

For further information, please contact:

Mike Pyle
Chief Executive Officer
Exchange Income Corporation
(204) 982-1850
MPyle@eig.ca

Pam Plaster
Vice President, Investor Development
Exchange Income Corporation
(204) 953-1314
PPlaster@eig.ca

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