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Northfield Capital Completes Strategic Aviation Expansion With Acquisition of Second Pilatus PC-12; Updates Aircraft Loan Agreement
TORONTO, July 08, 2025 (GLOBE NEWSWIRE) -- Northfield Capital Corporation (TSX-V: NFD.A) (“...
About this update from Northfield Capital Corporation Class A
[{"type":"text","content":"Northfield Capital Completes Strategic Aviation Expansion With Acquisition of Second Pilatus PC-12; Updates Aircraft Loan AgreementFinal aircraft closes multi-unit fleet buildout including two helicopters and expanded debt facility to meet surging charter demand\n\n\n\n TORONTO, July 08, 2025 (GLOBE NEWSWIRE) -- Northfield Capital Corporation (TSX-V: NFD.A) (“\n \n Northfield\n \n ” or the “\n \n Corporation\n \n ”), a proudly Canadian-owned investment company, is pleased to announce the completion of its aviation fleet expansion strategy through the acquisition of a second Pilatus PC-12 NG aircraft. The transaction was completed through Northfield’s wholly-owned subsidiary, Spruce Goose Aviation Inc. (“\n \n Spruce Goose\n \n ”) and complements earlier purchases of two high-performance helicopters. The transaction finalizes the Corporation’s multi-aircraft buildout designed to support growth at its commercial operating subsidiary, True North Airways Inc. (“\n \n True North\n \n ” or “\n \n TNA\n \n ”). The purchase was funded through an amendment to the Aircraft Loan Agreement (as defined below), increasing total available proceeds to US$5.795 million.\n \n\n This aircraft marks True North’s second PC-12 in its active fleet following the addition of two helicopters earlier this year, acquired to address rising demand for charter flight hours and mission-specific services throughout Canada, the U.S., and Central America. The aircraft is a modern, low-time, high-utility platform that enhances TNA’s operational scale and geographic reach.\n \n\n\n “This completes the staged rollout of our aviation growth strategy, said Robert D. Cudney, Chief Executive Officer of Northfield. “With three helicopters, two Pilatus PC-12s, a light jet (Cessna Citation) and mid-size jet (Gulfstream G100) now under management, we have assembled a fleet that is optimized for charter demand, infrastructure logistics, government contracts, and exploration support across North and Central America. We now move from capital deployment to cash flow generation.”\n \n\n\n\n Iain Hayden, CEO of True North Airways, added: “Adding a second PC-12 gives us meaningful lift to meet charter demand, with operational flexibility and reliability. Th...