Monthly Archives: November 2018

Crown Capital Partners to Host Analyst & Investor Presentation

CALGARY, November 30, 2018 – Crown Capital Partners Inc. (“Crown”) (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced it is hosting a presentation for analysts and investors on Wednesday, December 5, 2018 in Toronto. Chris Johnson, President and Chief Executive Officer of Crown, and Michael Overvelde, Chief Financial Officer, will provide an update on the Company’s strategy, including a discussion on the market opportunity and plans for the recently launched Crown Capital Power LP.

Institutional investors, analysts and members of the financial community interested in attending can register by contacting [email protected] A live webcast of the event, along with supporting materials, will be accessible from the Investor Relations section of Crown’s website.

DATE:  Wednesday, December 5, 2018
WEBCAST: https://crowncapital.ca/investor-relations/events-presentations
TIME:  12:15 p.m. – 2:00 p.m. EDT

About Crown Capital Partners (TSX:CRWN)

Founded in 2000, Crown is a leading specialty finance company that provides growth capital to a diversified group of successful mid-market companies that are seeking alternatives to banks and private equity funds. Crown provides customized solutions in the form of loans, royalties, and other structures with minimal or no ownership dilution. In addition to deploying capital as a principal investor, Crown develops, manages and co-invests in alternative investment funds, including Crown Capital Partner Funding, LP and Crown Capital Power Fund, LP.

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Crown Capital Partners to Host Analyst & Investor Presentation2020-05-12T18:01:51+00:00

Crown Capital Partners Completes Term Loan with VIQ Solutions Inc. for up to $15 Million

CALGARY, November 28, 2018 – Crown Capital Partners Inc. (“Crown”) (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced the closing of a $15 million term loan (the “Agreement”) to VIQ Solutions Inc. (“VIQ”)(TSX Venture:VQS), an Ontario-based technology company focused on digital media capture, workflow management, and artificial intelligence (“AI”) tools.

VIQ Solutions is a global expert in video and voice-to-text capture, providing a cybersecure AI technology and service platform to law enforcement, immigration, medical, legal, insurance, courts, and transcription service providers. VIQ’s digital solutions save enterprises time and effort by eliminating the need to update, store, and search through huge audio and video records. The company’s software captures digital content from any audio/video source for document creation and meets the highest international data, cybersecurity and privacy standards, including military and medical regulations. VIQ has a diversified customer base comprised of over 800 public and private agencies, with thousands of users in over 25 countries.

“We are pleased to support the VIQ team as they leverage their strong existing transcription services platform and consolidate key areas of the industry through acquisitions,” said Chris Johnson, Crown’s President & CEO. “They operate in highly fragmented markets where digital solutions are poised to transform how audio and video recordings are processed and evidence documented. By acquiring cash generative traditional transcription businesses and deploying its proprietary software, VIQ is well positioned to accelerate revenues and improve margins.”

“As we execute the next growth phase, we are pleased to be working with Crown Capital along with new commercial partners and target companies. This level of non-dilutive capital will enable VIQ to transform digital document creation and transcription using our proprietary AI technology,” said Sebastien Paré, President and CEO of VIQ.

The Agreement provides for a term loan of up to $15.0 million to VIQ by Crown Capital Partner Funding, LP (“Crown Partners Fund”), an investment fund managed by Crown and in which Crown holds a 37.1% interest. The loan is to be funded with an initial advance of $5.0 million. The remaining $10.0 million is available to fund subsequent acquisitions up to June 30, 2019.  The term loan bears a fixed interest rate of 10% per annum, matures in 60 months, and includes the issuance to Crown Partners Fund of 2,127,659 common shares as well as warrants to acquire 9,000,000 common shares of VIQ.

About Crown Capital Partners (TSX:CRWN)

Founded in 2000, Crown is a leading specialty finance company that provides growth capital to a diversified group of successful mid-market companies that are seeking alternatives to banks and private equity funds. Crown provides customized solutions in the form of loans, royalties, and other structures with minimal or no ownership dilution. In addition to deploying capital as a principal investor, Crown develops, manages and co-invests in alternative investment funds, including Crown Capital Partner Funding, LP and Crown Capital Power Fund, LP.

FORWARD-LOOKING STATEMENTS

This news release contains certain “forward looking statements” and certain “forward looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements in this news release include, but are not limited to, statements, management’s beliefs, expectations or intentions regarding VIQ’s increased revenue and margins. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Crown’s periodic filings with Canadian securities regulators. See Crown’s most recent annual information form for a detailed discussion of the risk factors affecting Crown. In addition, Crown’s dividend policy will be reviewed from time to time in the context of the Corporation’s earnings, financial requirements for its operations, and other relevant factors and the declaration of a dividend will always be at the discretion of the board of directors of the Corporation. Crown undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

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Crown Capital Partners Completes Term Loan with VIQ Solutions Inc. for up to $15 Million2020-05-12T18:01:51+00:00

Crown Capital Announces Repayment of Loan by Marquee Energy Ltd.

CALGARY, November 22, 2018 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced the full repayment by Marquee Energy Ltd. (“Marquee”) (TSXV: MQX) of a special situations loan managed by Crown.

In May 2017, Crown Capital Partner Funding, LP (“Crown Partners Fund”), an investment fund managed by Crown in which Crown holds an approximate 37% interest, arranged a $30.0 million, five-year term loan to Marquee. On November 20, the shareholders and optionholders of Marquee approved a plan of arrangement with Prairie Provident Resources Inc. (“Prairie Provident”) (TSX:PPR) pursuant to which Prairie Provident acquired all of the issued and outstanding shares of Marquee. The transaction was completed on November 21st, at which time the Crown term loan was prepaid in full, including principal and interest. As part of the prepayment of the loan Crown Partners Fund was granted 4.4 million common shares of Prairie Provident.

About Crown Capital Partners (TSX:CRWN)

Founded in 2000, Crown is a leading specialty finance company that provides growth capital to a diversified group of successful mid-market companies that are seeking alternatives to banks and private equity funds. Crown provides customized solutions in the form of loans, royalties, and other structures with minimal or no ownership dilution. In addition to deploying capital as a principal investor, Crown develops, manages and co-invests in alternative investment funds, including Crown Capital Partner Funding, LP and Crown Capital Power Fund, LP.

(416) 347-8954

For further information, please contact:

Craig Armitage
Investor Relations
[email protected]
(416) 347-8954

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Crown Capital Announces Repayment of Loan by Marquee Energy Ltd.2020-05-12T18:02:48+00:00

Crown Capital Partners Announces Financial Results for Q3 2018

CALGARY, November 7, 2018 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced its financial results for the third quarter ended September 30, 2018. Crown’s complete financial statements and management’s discussion and analysis for the three- and nine-month periods ended September 30, 2018 are available on SEDAR at www.sedar.com.

Q3 2018 Financial & Operating Highlights

  • Total revenue of $7.9 million (2017 – $5.6 million), including interest revenue of $7.2 million (2017 – $4.8 million), fees and other income of $0.2 million (2017 – $0.1 million), and a net gain on investments of $0.5 million (2017 – net gain of $0.6 million).
  • A 62% year-over-year increase in net income, net of non-controlling interests, of $1.8 million (2017 – $1.1 million), or $0.19 per common share (basic) (2017 – $0.12).
  • Adjusted Funds from Operations1 of $3.1 million, compared with $1.6 million in Q3 2017.
  • Total assets of $288.2 million at quarter end, up from $229.1 million at December 31, 2017.
  • Total equity per common share (basic) of $10.79 at September 30, 2018 compared with $10.98 at December 31, 2017.
  • On August 31, 2018, paid a quarterly dividend of $0.15 per common share.
  • Crown Capital Partner Funding, LP (“Crown Partners Fund”) completed a $15 million term loan to Triple Five Intercontinental Group Ltd. and exited Q3 2018 with a record level of contributed capital at $221.8 million compared with $167.4 million as at September 30, 2017.
  • Completed a $75 million upsizing of Crown Partners Fund. Concurrently, the investment period was extended to the end of 2019 and the maximum size of the fund was increased to $500 million, from $300 million previously.
  • Transition restricted share units issued in connection with the initial public offering of the Corporation in July 2015 vested on July 9, 2018, contributing to a 1.7% increase in common shares outstanding as at September 30, 2018 compared with June 30, 2018 and, in turn, to a (2.2)% decrease in book value per share over the same period.

“Crown has had a highly active and productive year to date, deploying $105 million in six transactions, which lifted our fee-generating assets to [our highest levels ever] at quarter end and drove a 49% year-over-year increase in interest revenue,” said Chris Johnson, President and CEO of Crown. “In addition to the $75 million upsizing of Crown Partners Fund, we made important changes that provide additional flexibility to expand this fund up to $500 million and capitalize on demand from mid-market companies for our customized financing solutions.”

Mr. Johnson added: “Our core focus at Crown is creating strong risk-adjusted recurring cash flows through private credit and structured equity capital pools. With Crown Capital Power Limited Partnership, which we launched in the second quarter, we have a tremendous opportunity to build a portfolio of long-term contracts with profitable, well-established businesses that will deliver attractive utility-like income. In the third quarter, we made significant progress with the growth initiatives for this fund, including important steps towards developing the capital structures and third-party investor base to participate alongside our initial principal investment.”

Conference Call & Webcast

Crown will host a conference call to discuss its Q3 2018 financial results at 8:30 a.m. EDT on November 7, 2018. The call will be hosted by Chris Johnson, President & CEO, and Michael Overvelde, CFO. To participate in the call, dial (416) 764-8688 or (888) 390-0546 using the conference ID 88328702. The audio webcast can be accessed at www.crowncapital.ca under Investor Relations or https://bit.ly/2yqe7ql. Listeners should access the webcast or call 10-15 minutes before the start time to ensure they are connected.

About Crown Capital Partners (TSX:CRWN)

Founded in 2000, Crown is a leading specialty finance company that provides growth capital to a diversified group of successful mid-market companies that are seeking alternatives to banks and private equity funds. Crown provides customized solutions in the form of loans, royalties, and other structures with minimal or no ownership dilution. In addition to deploying capital as a principal investor, Crown develops, manages and co-invests in alternative investment funds, including Crown Partners Fund and Crown Power Fund.

FORWARD-LOOKING STATEMENTS

This news release contains certain “forward looking statements” and certain “forward looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements in this news release include, but are not limited to, statements, management’s beliefs, expectations or intentions regarding the alternative financial market and the general economy, transaction pipeline, Crown’s business plans and strategy, including anticipated capital deployments and the timing thereof, and Crown’s future cash flow and shareholder value. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Crown’s periodic filings with Canadian securities regulators. See Crown’s most recent annual information form for a detailed discussion of the risk factors affecting Crown. In addition, Crown’s dividend policy will be reviewed from time to time in the context of the Corporation’s earnings, financial requirements for its operations, and other relevant factors and the declaration of a dividend will always be at the discretion of the board of directors of the Corporation. Crown undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

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Crown Capital Partners Announces Financial Results for Q3 20182020-05-12T18:02:52+00:00

Crown Capital Announces Quarterly Dividend of $0.15 Per Share

CALGARY, November 6, 2018 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced that its Board of Directors has declared a dividend of $0.15 per common share, payable on November 30, 2018 to all shareholders of record as of the close of business on November 16, 2018.

This dividend is designated by the Company to be an “eligible dividend” pursuant to subsection 89(14) of the Income Tax Act (Canada) and any applicable provincial or territorial legislation pertaining to eligible dividends. Shareholders with questions regarding the tax treatment of dividends should consult with their own tax advisors.

About Crown Capital Partners (TSX:CRWN)

Founded in 2000, Crown is a leading specialty finance company that provides growth capital to a diversified group of successful mid-market companies that are seeking alternatives to banks and private equity funds. Crown provides customized solutions in the form of loans, royalties, and other structures with minimal or no ownership dilution. In addition to deploying capital as a principal investor, Crown develops, manages and co-invests in alternative investment funds, including Crown Capital Partner Funding, LP and Crown Capital Power Fund, LP.

FORWARD-LOOKING STATEMENTS

This news release contains certain “forward looking statements” and certain “forward looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Crown’s periodic filings with Canadian securities regulators. See Crown’s most recent annual information form for a detailed discussion of the risk factors affecting Crown. In addition, Crown’s dividend policy will be reviewed from time to time in the context of the Corporation’s earnings, financial requirements for its operations, and other relevant factors and the declaration of a dividend will always be at the discretion of the board of directors of the Corporation. Crown undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

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Crown Capital Announces Quarterly Dividend of $0.15 Per Share2020-05-12T18:02:52+00:00