Exchange Income Corporation Announces Voting Results for its 2020 Annual and Special Meeting of Shareholders

02/07/2020 15:00

WINNIPEG, MB, July 2, 2020 /CNW/ - Exchange Income Corporation (TSX: EIF) (the "Corporation"), announced today the voting results on the election of directors from its 2020 Annual and Special Meeting of Shareholders ("AGM").

A total of 10,103,969 common shares representing 29% of the Corporation's 34,844,241 issued and outstanding common shares were voted in connection with the AGM. Shareholders approved all items of business before the AGM, including the election of directors as follows:

Nominees	Votes in Favour	% For	Votes Withheld	% Withheld	Total
Brad Bennett	9,902,978	98.01	200,991	1.99	10,103,969
Gary Buckley	9,869,749	97.68	234,220	2.32	10,103,969
Polly Craik	10,056,359	99.53	47,610	0.47	10,103,969
Gary Filmon	10,060,510	99.57	43,459	0.43	10,103,969
Duncan Jessiman	10,043,744	99.40	60,225	0.60	10,103,969
Michael Pyle	10,063,383	99.60	40,586	0.40	10,103,969
Grace Schalkwyk	10,062,263	99.59	41,706	0.41	10,103,969
Melissa Sonberg	10,054,638	99.51	49,331	0.49	10,103,969
Donald Streuber	10,069,530	99.66	34,439	0.34	10,103,969
Edward Warkentin	10,054,835	99.51	49,134	0.49	10,103,969

At the meeting, shareholders also voted in favour of the reappointment of PricewaterhouseCoopers LLP as the auditor of the Corporation until the close of the next annual meeting of shareholders; the approval of the Third Amended and Restated Shareholder Rights Plan of the Corporation; and the approval, on an advisory basis, of the Corporation's approach to executive compensation.

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, 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, 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, Exchange 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.