The PAL Group of Companies has reached an agreement to be acquired by Exchange Income Corporation (EIC) based in Winnipeg, MB. Under the terms of the deal, the PAL Group will continue to be operated independently under its current management at its headquarters in St. John’s, NL. “It is a very exciting day for our company, and the province of Newfoundland & Labrador. This marks the launch of our next phase of growth,” said Brian Chafe, CEO of the PAL Group of Companies. “EIC is committed to supporting our continued growth at home in Newfoundland & Labrador as well as

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