Northfield Capital Moves to Acquire Remaining Stake in Aviation Subsidiary

Northfield Capital Corporation, based in Toronto and listed on the TSX Venture Exchange, has announced a strategic move to acquire the remaining minority interest in its subsidiary, Northfield Aviation Group Inc. The transaction will see Northfield's wholly-owned subsidiary, Spruce Goose Aviation Inc., purchase the outstanding 9% voting ownership interest from Iain Hayden, a director of Northfield Aviation. The acquisition is structured as a share purchase agreement, in which Spruce Goose will issue 60,000 Class A restricted voting shares of Northfield Capital Corporation at a deemed price of C$5.23 per share to the vendor. This transaction, subject to approval from the TSX Venture Exchange and other customary conditions, aims to secure a 100% ownership stake for Spruce Goose in Northfield Aviation. The deal bypasses certain regulatory approval requirements due to its valuation being under 25% of Northfield's market capitalization. This move underscores Northfield Capital's investment strategy, emphasizing its strong focus on the aviation sector as part of its diverse portfolio endeavors.