Northfield Expands Northern Aviation Capacity With Cessna 208 Caravan Acquisition and Amends Aircraft Loan Agreement

Utility turboprop to support Juno's Ring of Fire exploration logistics and northern community and government services; aircraft loan facility increased to US$8 million

TORONTO, ON / ACCESS Newswire / June 5, 2026 / Northfield Capital Corporation ("Northfield" or the "Company") (TSXV:NFD.A) today announced that its wholly-owned subsidiary, Spruce Goose Aviation Inc. ("Spruce Goose"), has acquired a 2016 Cessna 208 Caravan utility turboprop aircraft to expand the Company's northern aviation capacity, and that the Company and certain of its subsidiaries have entered into a second amending agreement to increase the Company's existing aircraft loan facility to finance the acquisition.

Robert D. Cudney, Founder, President and Chief Executive Officer of Northfield, commented: "This acquisition strengthens our ability to serve the Ring of Fire and the communities of Northern Ontario at a time when reliable air access is increasingly critical. The Caravan is a proven workhorse for remote operations, and financing it on a long-term, asset-backed basis lets us expand True North Airways' capacity while preserving balance-sheet flexibility across the portfolio.

Fleet Expansion - Cessna 208 Caravan

The acquisition, which closed on February 20, 2026, adds a 2016 Cessna 208 Caravan aircraft to the Company's aviation fleet. The Aircraft was acquired from an arm's length seller for a purchase price of US$2.06 million.

The Cessna 208 Caravan is a single-engine utility turboprop widely deployed for operations in remote and northern regions, valued for its payload flexibility, its ability to operate from short and unimproved runways, and its capacity to be rapidly reconfigured between passenger and cargo roles. Powered by a Canadian-built Pratt & Whitney Canada PT6A turboprop engine, the Aircraft is well suited to the mixed passenger, cargo, and exploration-logistics missions that characterize northern operations.

Operated within the Company's True North Airways aviation group, the Aircraft is being deployed principally in support of the exploration programs of Juno Corp. ("Juno"), Northfield's investee and the largest mineral claimholder in Ontario's Ring of Fire, as well as charter, cargo, and logistics services for northern communities and government agencies. The addition expands True North Airways' capacity to serve growing demand for reliable air access across Northern Ontario and other remote regions of Canada.

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