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Crown Capital Announces Final Results of its Substantial Issuer Bid

TORONTO, December 23, 2021 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX:CRWN), a capital partner to entrepreneurs and growth businesses, today announced the final results of its “modified Dutch auction” substantial issuer bid to purchase for cancellation up to $10,000,000 in value of its outstanding common shares (“Shares”) from shareholders for cash (the “Offer”). The Offer expired at 5:00 p.m. Eastern time on December 22, 2021.

In total, 2,599,183 shares were tendered at prices ranging from $6.50 per Share to $7.50 per Share. In accordance with the terms and conditions of the Offer, the Corporation will take up and pay for 1,333,333 Shares at a purchase price of $7.50 per Share, for an aggregate cost of $10,000,000, excluding fees and expenses relating to the Offer. As the Offer was oversubscribed, other than Odd Lot Shareholders who will be fully redeemed, Shareholders will be redeemed approximately 51% of their tendered amount.

The Shares purchased for cancellation under the Offer represent approximately 15.8% of the Shares issued and outstanding before giving effect to the Offer. After giving effect to the Offer, 7,093,102 Shares remain outstanding.

The Corporation will make payment for the Shares tendered and accepted for purchase by tendering the aggregate purchase price to TSX Trust Company, the depositary for the Offer (the “Depositary”), in accordance with the Offer and applicable laws and payment to the shareholders will be effected by the Depositary. Payment for Shares will be made in cash, without interest. Any Shares invalidly tendered or tendered and not purchased will be returned to the tendering shareholder promptly by the Depositary.

About Crown Capital Partners (TSX:CRWN)

Founded in 2000 within Crown Life Insurance Company, Crown Capital Partners is a leading specialty finance company currently operating in the alternative corporate finance, distributed power and telecommunications infrastructure markets. We focus on alternative asset classes that require a specialized capital partner, and we aim to create long-term value by acting as both a manager of investment funds for institutional partners and as a direct investor in operating businesses serving these markets. For additional information, please visit crowncapital.ca.

For further information, please contact:
Craig Armitage
Investor Relations
[email protected]
(416) 347-8954

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Crown Capital Announces Final Results of its Substantial Issuer Bid2021-12-23T09:48:09-05:00

Crown Capital Partners Announces Loan Repayment

TORONTO, December 20, 2021 – Crown Capital Partners Inc. (“Crown”) (TSX: CRWN) today announced that Crown Capital Partner Funding, LP (“Crown Partners Fund”), an investment fund of which it owns an effective interest of approximately 28%, has received the repayment by Data Communications Management Corporation (“DCM”) of the remaining $11.0 million outstanding under its term loan. This follows DCM’s partial repayment in November 2021.

Headquartered in Brampton, Ontario, DCM is the largest integrated business communications solutions provider in Canada, with clients in key verticals such as financial services, retail, healthcare, lottery and gaming, not-for-profit, and energy. Crown Partners Fund received aggregate proceeds of approximately $11.5
million, including the repayment of the remaining loan principal plus accrued fees, expenses and interest. The realized Gross IRR on Crown Partners Fund’s aggregate investment was 13.8%, which excludes the warrants in DCM that continue to be held by the fund.

About Crown Capital Partners (TSX:CRWN)
Founded in 2000 within Crown Life Insurance Company, Crown Capital Partners is a leading specialty finance company operating mainly in the distributed power and telecommunications infrastructure markets. We focus on alternative asset classes that require a specialized capital partner, and we aim to create long-term value by acting as both a manager of investment funds for institutional partners and as a direct investor in operating businesses serving these markets. For additional information, please visit crowncapital.ca.

For further information, please contact:
Craig Armitage
Investor Relations
[email protected]
(416) 347-8954

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Crown Capital Partners Announces Loan Repayment2021-12-20T13:18:56-05:00

Galaxy Broadband partners with OneWeb to deliver transformational satellite communications to mining companies

NOVEMBER 22, 2021 / GLOBAL MINING NEWS — For nearly 30 years, Galaxy Broadband has provided Canadian companies with enterprise satellite broadband and terrestrial wireless connectivity services.

The company “is one of Canada’s largest telecommunications companies, and has positioned itself as a single source for remote communications, high-speed internet, VoIP [Voice over Internet Protocol], and networking solutions,” says Rick Hodgkinson, Galaxy Broadband’s president and CEO. “

In today’s world, good connectivity to the internet is critical for any business,” he said. “Mining companies typically operate in remote areas where few, if any, terrestrial connectivity options
exist. These operations can benefit greatly from efficiency gains delivered by new software and systems only made possible through good connectivity.”

Hodgkinson added that Galaxy Broadband has been working with the Canadian mining industry for over ten years, providing “reliable, affordable, and innovative enterprise communications to remote locations where no fibre optic or microwave coverage exists.”

For example, it has worked with Karora Resources (TSX: KRR; US-OTC: KRRGF), then called Royal Nickel Corp., deploying its Smart Site solution to provide a more reliable satellite link and improved bandwidth control for Karora’s remote mining camp at Salluit in northern Quebec, as well as a VoIP service connecting the company’s offices in Ontario and Quebec. It has also installed its SCOUT technology — a satellite dish with a VoIP phone router and wireless access point — at Agnico Eagle Mines’ (TSX: AEM; NYSE: AEM) Amaruq project in Nunavut.

OneWeb will have a new 688 LEO satellite constellation providing transformational internet connections to mines everywhere in Canada and around the world.

Galaxy Broadband recently partnered with OneWeb, a U.K.-headquartered global communications network powered by a constellation of 688 low Earth orbit (LEO) satellites, to provide the next generation of telecommunications technology for mining companies. The system is scheduled for launch by the end of the year and will be accessible to miners with operations in Canada’s far north, and then globally in 2022.

According to Hodgkinson, the OneWeb system will help to address the high latency in data transfer, one of the biggest challenges facing mining companies when running software over current satellite links. “Whereas traditional satellites orbit at around 37,000 kilometres, OneWeb LEO satellites orbit at altitudes as low as 1,200 km, which provides a much lower level of latency when transmitting data.”

The OneWeb system “will be a transformational service, made possible by recent advances in technology,” he added, “with latencies of less than 70 milliseconds and high-speed downloads of up to 150 megabits per second.” This would allow remote mining operations with limited connectivity to operate with software and applications currently only available to operations with good connectivity.

“The system will open the door to enhanced enterprise resource planning, which touches all aspects of the mine such as procurement, health and safety, and accounting, as well as increased automation at the mine site, with faster connectivity allowing for more operations to be undertaken remotely, reducing the costs of moving staff back and forth between remote locations,” Hodgkinson said.

The improved connectivity will also allow mining companies to deploy video applications that would help them meet their Environmental, Social, and Governance (ESG) objectives, he noted.

“With the increasing focus on ESG, the ability to share live video feeds with investors from a remote mine is a pretty powerful tool to demonstrate a company’s ESG credentials,” he said. “We’ve also had discussions with companies around sharing their internet access with local communities, which is becoming an increasingly valuable commodity for these communities.”

Hodgkinson noted that the partnership with OneWeb allows Galaxy Broadband “to provide even better support for mining companies, including increased security for their employees and assets, improved data protection, and along with our Smart Site solution, private wireless networks that will enable the Internet of Things applications and enhanced connectivity across mine sites.”. TNM

—The preceding Joint-Venture Article is
PROMOTED CONTENT sponsored by GALAXY
BROADBAND and produced in cooperation with
The Northern Miner.

Source: https://www.northernminer.com/joint-venture-article/jv-article-galaxy-broadband-partner[…]l-satellite-communications-to-mining-companies/1003836506/

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Galaxy Broadband partners with OneWeb to deliver transformational satellite communications to mining companies2021-11-24T13:21:30-05:00

Crown Capital Announces Intention to Commence Substantial Issuer Bid

 CALGARY, November 9, 2021 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN), a capital partner to entrepreneurs and growth businesses, today announced its intention to commence a substantial issuer bid (the “Offer”) pursuant to which the Corporation will offer to purchase for cancellation up to $10,000,000 in value of its outstanding common shares (the “Shares”). The Offer will proceed by way of a “modified Dutch auction” procedure with a tender price range from $6.50 to $7.50 per Share. 

The Offer will be conducted through a “modified Dutch auction” procedure. Shareholders who wish to participate in the Offer will be able to do so through: (i) auction tenders in which they will specify the number of Shares being tendered at a price of not less than $6.50 and not more than $7.50 per Share in increments of $0.10 per Share, or (ii) purchase price tenders in which they will not specify a price per Share, but rather will agree to have a specified number of Shares purchased at the purchase price to be determined by auction tenders. Shareholders who validly deposit Shares without specifying the method in which they are tendering their Shares will be deemed to have made a purchase price tender. The Corporation’s directors and officers do not have a present intention to tender any Shares pursuant to the Offer. 

The tender price range represents a 3.83% premium to 19.81% premium over the 30-day volume weighted average closing price of the Shares on the TSX for the period ending on November 8, 2021, and a 3.67% premium to 19.61% premium over the closing price of the Shares on the TSX on November 8, 2021, the last full trading day prior to the Corporation’s announcement of its intention to make this Offer. The number of Shares subject to the Offer represents approximately 15.82% to 18.26% of the total number of Shares outstanding. 

The closing price of the Shares on the Toronto Stock Exchange (the “TSX”) on November 8, 2021, the last full trading day prior to the Corporation’s announcement of its intention to make the Offer, was $6.27. 

The board of directors of the Corporation (the “Board”) believes that the recent trading price of the Shares is not fully reflective of their intrinsic value based on the value of Crown’s assets and its business and future prospects. Accordingly, the Board believes that the Offer is a prudent use of the Corporation’s financial resources given the Corporation’s business profile and assets, the current market price of the Shares and the Corporation’s cash requirements. The Board also believes that there is currently interest from shareholders of the Corporation (“Shareholders”) for improved liquidity in respect of the Shares and that the Offer will provide Shareholders with the option to access liquidity. The Offer provides Crown with the opportunity to return up to $10 million of capital to Shareholders who elect to tender while at the same time increasing the proportionate Share ownership of Shareholders who elect not to tender. 

Details of the Offer, including instructions for tendering Shares to the Offer and the factors considered by the Board making its decision to approve the Offer, will be included in the formal offer to purchase and issuer bid circular and other related documents (the “Offer Documents”), which are expected to be mailed to shareholders, filed with applicable Canadian Securities Administrators and made available free of charge on or about November 16, 2021 on SEDAR at www.sedar.com and on the Corporation’s website at https://crowncapital.ca/. Shareholders should carefully read the Offer Documents prior to making a decision with respect to the Offer. The Offer will not be conditional on any minimum number of Shares being tendered but will be subject to various other conditions that are typical for a transaction of this nature. 

The Offer will expire at 5 p.m. Eastern time on December 22, 2021, unless terminated or extended by the Corporation. Upon expiry of the Offer, the Corporation will determine the lowest purchase price (which will be not less than $6.50 per Share and not more than $7.50 per Share) that will allow it to purchase the maximum number of Shares properly tendered to the Offer, and not properly withdrawn, having an aggregate purchase price not exceeding $10,000,000. 

If Shares with an aggregate purchase price of more than $10,000,000 are properly tendered to the Offer, the Corporation will take-up and pay for the tendered Shares on a pro-rata basis according to the number of Shares tendered, except that “odd lot” tenders (of holders beneficially owning fewer than 100 Shares) will not be subject to pro-ration. In that case, all Shares tendered at or below the finally determined purchase price will be purchased, subject to pro-ration, at the same purchase price determined pursuant to the terms of the Offer. Shares that are tendered but not purchased, including Shares tendered pursuant to auction tenders at prices above the purchase price, will be returned to shareholders. 

The Board has obtained a valuation (the “Valuation”) from Evans & Evans, Inc. to the effect that, based on and subject to the assumptions and limitations stated in such opinion, as of September 30, 2021, the fair market value per Share falls within the range of $7.69 to $7.95 per Share. A copy of the Valuation will be included in the Offer Documents. 

The Board has authorized the making of the Offer. However, the Board is not making any recommendation to any Shareholders as to whether to tender or refrain from tendering their Shares under the Offer. Shareholders are strongly urged to consult their own financial, tax and legal advisors and to make their own decisions whether to tender or to refrain from tendering their Shares to the Offer and, if so, how many Shares to tender. 

The Corporation completed a substantial issuer bid on July 27, 2021, pursuant to which the Corporation purchased 599,854 Shares from tendering shareholders for cancellation at a price of $5.50 per Share for aggregate purchase price of $3,079,197. 

The Corporation was authorized by the TSX to purchase up to 600,000 Shares pursuant to a normal course issuer bid (the “NCIB”) that commenced on April 13, 2021 and expires on April 12, 2022. Since April 13, 2021, the Corporation has purchased 49,600 Shares through the NCIB. There will be no further purchases of Shares under the NCIB until after the expiry of the Offer or date of termination of the Offer. Under the Corporation’s prior normal course issuer bid that commenced on April 13, 2020 and expired on April 12, 2021, the Corporation purchased a total of 393,930 Shares at a volume-weighted average price of $4.09 for cancellation thereunder. 

Any questions or requests for information may be directed to TSX Trust Company, as the depositary for the Offer, as follows: 

North American Toll Free: 1-866-600-5869 

Telephone: 416-342-1091 

Facsimile: 416-361-0470 

E-Mail: [email protected] 

About Crown Capital Partners (TSX:CRWN) 

Founded in 2000 within Crown Life Insurance Company, Crown Capital Partners is a leading specialty finance company operating mainly in the distributed power and telecommunications infrastructure markets. We focus on alternative asset classes that require a specialized capital partner, and we aim to create long-

term value by acting as both a manager of investment funds for institutional partners and as a direct investor in operating businesses serving these markets. For additional information, please visit crowncapital.ca. 

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 commencement of the Offer. 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. 

For further information:

Craig Armitage

Investor Relations

[email protected]

(416) 347-8954 

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Crown Capital Announces Intention to Commence Substantial Issuer Bid2021-11-10T02:41:54-05:00

Notice of Crown Capital Q3 2021 Results Conference Call

CALGARY, October 21, 2021 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN), a capital partner to entrepreneurs and growth businesses, today announced it will host a conference call to discuss its 2021 third quarter financial results on November 10, 2021 at 11:00 a.m. EST. The call will be hosted by Chris Johnson, President and Chief Executive Officer, and Michael Overvelde, Chief Financial Officer.

Q3 2021 CONFERENCE CALL

DATE:                                      Wednesday, November 10, 2021

TIME:                                       11:00 a.m. EST

DIAL IN NUMBER:                (647) 792-1240 or (888) 269-4260

CONFERENCE ID:                  2526291

REPLAY:                                 (647) 436-0148 or (888) 203-1112 (playback code: 2526291) Available until midnight (EST) November 17, 2021

WEBCAST:                              The audio webcast can be accessed at www.crowncapital.ca under Investor Relations or at: https://bit.ly/2YZV5r1

ABOUT CROWN CAPITAL PARTNERS (TSX: CRWN)

Founded in 2000 within Crown Life Insurance Company, Crown Capital Partners is a leading specialty finance company operating mainly in the distributed power and telecommunications infrastructure markets. We focus on alternative asset classes that require a specialized capital partner, and we aim to create long-term value by acting as both a manager of investment funds for institutional partners and as a direct investor in operating businesses serving these markets. For additional information, please visit crowncapital.ca.

For further information, please contact:

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

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Notice of Crown Capital Q3 2021 Results Conference Call2021-10-22T04:08:33-04:00

Crown Capital Partners Announces Loan Repayment

TORONTO, September 13, 2021 – Crown Capital Partners Inc. (“Crown”) (TSX: CRWN), today announced that Crown Capital Partner Funding, LP (“Crown Partners Fund”), an investment fund of which it owns an effective interest of approximately 28%, has received the full repayment by T5 SC Oil and Gas Limited Partnership (“T5”) of its $27.0 million term loan from Crown Partners Fund, of which the first advance was completed in August 2018.

T5 is a privately held, Calgary-based petroleum and natural gas company. Crown Partners Fund received aggregate proceeds of $29.75 million, including the repayment of the full loan principal plus accrued fees, expenses and interest, as well as a buyout of the production payment agreement plus accrued payments in respect of that agreement. The realized Gross IRR on Crown Partners Fund’s aggregate investment was 16.7%.

“We are pleased to realize another successful investment for Crown Partners Fund and further reduce our investment in corporate financing transactions,” said Chris Johnson, President and CEO of Crown. 

About Crown Capital Partners (TSX:CRWN)

Founded in 2000 within Crown Life Insurance Company, Crown Capital Partners is a leading specialty finance company operating mainly in the distributed power and telecommunications infrastructure markets. We focus on alternative asset classes that require a specialized capital partner, and we aim to create long-term value by acting as both a manager of investment funds for institutional partners and as a direct investor in operating businesses serving these markets. For additional information, please visit crowncapital.ca

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. 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.

For further information, please contact:

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

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Crown Capital Partners Announces Loan Repayment2021-09-13T15:27:27-04:00

Crown Capital Partners Announces Loan Repayment

TORONTO, August 23, 2021 – Crown Capital Partners Inc. (“Crown”) (TSX: CRWN), today announced  that Crown Capital Partner Funding, LP (“Crown Partners Fund”), an investment fund of which it owns an  effective interest of approximately 28%, has received the full repayment by CareRx Corporation (“CareRx”)  of its $27 million term loan. Crown Partners Fund received partial repayment of $5 million in May 2021,  followed by the recent repayment of the remaining $22 million.  

CareRx is Canada’s leading provider of pharmacy services to seniors living and other congregate care  communities. The term loan with Crown Partners Fund was originally completed in March 2020 and the  realized Gross IRR on Crown Partners Fund’s aggregate investment was 14%, excluding the remaining warrant  position which have a current fair value of approximately $1 million. 

“CareRx has been a strong performer for the fund. This repayment was expected and consistent with Crown’s  strategy to recover capital from our corporate financing portfolio,” said Chris Johnson, President and CEO of  Crown. 

About Crown Capital Partners (TSX:CRWN) 

Founded in 2000 within Crown Life Insurance Company, Crown Capital Partners is a leading specialty finance  company operating mainly in the distributed power and telecommunications infrastructure markets. We focus  on alternative asset classes that require a specialized capital partner, and we aim to create long-term value by  acting as both a manager of investment funds for institutional partners and as a direct investor in operating  businesses serving these markets. For additional information, please visit crowncapital.ca.  

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.  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.

For further information, please contact:

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

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Crown Capital Partners Announces Loan Repayment2021-08-23T17:20:12-04:00

Crown Capital Partners Announces Financial Results for Q2 2021

CALGARY, August 12, 2021 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN), a capital partner to entrepreneurs and growth businesses, today announced its financial results for the second quarter ended June 30, 2021. Crown’s complete financial statements and management’s discussion and analysis for the three- and six-month periods ended June 30, 2021 are available on SEDAR at www.sedar.com.

Q2 2021 Financial & Operating Highlights

  • Reported total revenue of $13.1 million, compared with $13.3 million in Q2 2020, as higher Network Services revenue was offset by lower interest revenue and a $0.8 million net loss on investments, versus a significant net investment gain of $3.4 million in Q2 2020.
  • Interest revenue decreased to $6.4 million, compared with $7.2 million in Q2 2020, due primarily to a year-over-year decrease in the average level of interest-yielding loan investments, consistent with management’s plan to reduce its loan-based investments, partially offset by an increased contribution from Crown Power Fund.
  • Continued growth of the Network Services platform, revenue stream and operating profit. Network Services revenue increased to $6.9 million in Q2 2021 (52% of total revenue for the quarter), up from $1.9 million in Q2 2020 and $6.4 million in Q1 2021. The year-over increase reflects the recognition of two full quarters of network services revenue from Galaxy following its acquisition in September 2020, as well as organic growth.
  • Adjusted Funds from Operations1 decreased to $3.2 million ($0.36 per basic share), compared with $3.6 million ($0.38 per basic share) in Q2 2020, due primarily to a $(0.4) million net realized loss attributable to shareholders in the quarter, versus a net realized gain attributable to shareholders of $0.4 million in the prior year period.
  • Net loss improved to $(0.3) million, compared with ($1.6) million in Q2 2020.
  • Total assets increased to $332.5 million at quarter-end, compared with $326.2 million as at December 31, 2020.
  • Total equity at quarter-end was $81.5 million, or $9.05 per basic share, up from $81.2 million, or $8.98 per share, at year-end 2020.
  • Crown acquired 100% of the common shares of PBC Barrie Corp. (“PBC”), in exchange for consideration of $5.3 million, representing a reduction in the amount owed to Crown by PenEquity. PBC’s assets are primarily comprised of land located in Barrie, Ontario.
  • Crown acquired 100% of the common shares of Lumbermens Credit Group Ltd., an Ontario-based construction credit reporting company, in exchange for cash consideration of $0.3 million and a $1.25 million reduction in the amount owed to Crown by Mill Street, the former parent of Lumbermens.
  • Crown successfully refinanced its existing syndicated corporate credit facility by entering into a new, bilateral senior secured corporate credit facility with ATB Financial.

“We continue to make significant and important strides to transition the business and execute on our strategy to reduce our investment in corporate financing transactions and increase operating earnings in our newer lines of business, which we believe is the best path to long-term value creation,” said Chris Johnson, President and CEO of Crown. “Building on the sale of part of our position in Crown Partners Fund during Q1, we recently announced the divestment of a majority stake in our fund management business and another portion of our investment in the fund. Together, these transactions reduced our investment in Crown Partners Fund from approximately 39% to 28% and accelerated the return of over $20 million of capital. We also continue to make progress with plans to return capital to shareholders. Over the past year, between the NCIB and recently completed SIB, we have returned $4.8 million to shareholders through the purchase of almost one million common shares, reducing shares outstanding by more than 10%.”

Mr. Johnson added: “Our Network Services business continues to show strong growth in revenue and operating earnings, validating our belief in the long-term opportunity to bring broadband connectivity to remote locations. This segment represented more than 50% of total revenue in the quarter and generated $2.6 million and $4.7 million of income before income tax, financing charges and depreciation and amortization in the quarter and year-to-date, respectively.”

Subsequent Events:

Since the end of Q2 2021:

  • On July 13, 2021, consistent with Crown’s planned shift towards a capital-light business model, the Company announced the divestment of a majority stake in CPCP, our alternative lending fund management business, to a group including Canadian Western Bank, Concentra Bank, Mount Logan Capital Inc. and certain management participants. This transaction also included a partial sale of Crown’s interest in Crown Partners Fund at a transaction price equal to net asset value, reducing the effective ownership position from 36.5% as at June 30, 2021 to 28.0%. The proceeds of $16.3 million were applied as a partial repayment of the balance outstanding on the Crown Credit Facility.
  • On July 28, 2021, Crown announced the results of its substantial issuer bid, which resulted in the purchase and cancellation of 559,854 Common Shares at a price of $5.50 per Common Share in cash for an aggregate cost of $3.1 million excluding fees and expenses.

Q2 2021 Financial Results Summary

1 Adjusted Funds from Operations is not a measure of financial performance (nor does it have a standardized meaning) under IFRS. In evaluating this measure, investors should consider that the methodology applied in calculating these measures might differ among companies and analysts. The Corporation has provided a reconciliation of loss before income taxes to Adjusted Funds from Operations in this news release. We believe that Adjusted Funds from Operations is a useful supplemental measure in the context of Crown’s specialty finance focus to assist investors in assessing the cash anticipated to be generated by Crown’s business, including cash received in relation to its various revenue streams, that is attributable to Shareholders. Adjusted Funds from Operations should not be considered as the sole measure of Crown’s performance and should not be considered in isolation from, or as a substitute for, analysis of the Corporation’s financial statements.

Conference Call & Webcast

Crown will host a conference call and webcast to discuss its Q2 2021 financial results at 11:00 a.m. ET on August 13, 2021. The call will be hosted by Chris Johnson, President & CEO, and Michael Overvelde, CFO. To participate in the call, dial (416) 764-8659 or (888) 664-6392 using the conference ID 85156119. The webcast can be accessed at www.crowncapital.ca under Investor Relations. 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 within Crown Life Insurance Company, Crown Capital Partners is a leading specialty finance company operating mainly in the distributed power and telecommunications infrastructure markets. We focus on alternative asset classes that require a specialized capital partner, and we aim to create long-term value by acting as both a manager of investment funds for institutional partners and as a direct investor in operating businesses serving these markets. For additional information, please visit crowncapital.ca.

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, the network services market and the general economy, transaction pipeline, Crown’s business plans and strategy, including anticipated investment dispositions and capital deployments and the timing thereof, and Crown’s future earnings. 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.

For further information, please contact:

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

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Crown Capital Partners Announces Financial Results for Q2 20212021-08-12T18:00:41-04:00

Notice of Crown Capital Q2 2021 Results Conference Call & Investor Update

CALGARY, July 29, 2021 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN), a capital partner to entrepreneurs and growth businesses, today announced it will host a conference call on August 13, 2021 at 11:00 a.m. ET to discuss its 2021 second quarter results and provide an update on operations and strategy. The event will be hosted by Chris Johnson, President and Chief Executive Officer, and Michael Overvelde, Chief Financial Officer. The live webcast will include a slide presentation.

Q1 2021 CONFERENCE CALL

DATE: Friday, August 13, 2021
TIME: 11:00 a.m. EST
DIAL IN NUMBER: (416) 764-8659 or (888) 664-6392
CONFERENCE ID: 85156119
REPLAY: (416) 764-8677 or (888) 390-0541 (replay code: 156119 #) Available until midnight (EST) August 20, 2021
WEBCAST: The audio webcast can be accessed at www.crowncapital.ca under Investor Relations or at this link.

About Crown Capital Partners (TSX:CRWN)

Founded in 2000 within Crown Life Insurance Company, Crown Capital Partners is a leading specialty finance company operating mainly in the distributed power and telecommunications infrastructure markets. We focus on alternative asset classes that require a specialized capital partner, and we aim to create long-term value by acting as both a manager of investment funds for institutional partners and as a direct investor in operating businesses serving these markets. For additional information, please visit crowncapital.ca

For further information, please contact:

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

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Notice of Crown Capital Q2 2021 Results Conference Call & Investor Update2021-07-29T16:02:10-04:00

Crown Capital Announces Final Results of its Substantial Issuer Bid

CALGARY, July 28, 2021 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN), a capital partner to entrepreneurs and growth businesses, today announced the final results of its substantial issuer bid to purchase for cancellation up to 1,800,000 of its outstanding common shares (“Shares”) at a price of $5.50 per Share (the “Purchase Price”), for an aggregate purchase price not to exceed $9,900,000 (the “Offer”).  The Offer expired at 5:00 p.m. Eastern time on July 27, 2021.

In accordance with the terms and conditions of the Offer, the Corporation has taken up and paid for 559,854 Shares at the Purchase Price, for an aggregate cost of $3,079,197, excluding fees and expenses relating to the Offer.  After giving effect to the Offer, 8,439,635 Shares remain outstanding.

“We appreciate the patience and support of our shareholders as we continue to transition the business and execute on our strategy to reduce our investment in corporate financing transactions and increase operating earnings in our newer lines of business, which we believe is the best path to long-term earnings growth and value creation,” said Chris Johnson, President and CEO of Crown. “We have been active with previously established Normal Course Issuer Bids and will continue to use that vehicle to return capital to shareholders, consistent with our intent to pursue a capital-light business model.  Although the share price has increased approximately 15% compared with the volume weighted average price for the 30-day period prior to our announcement of the substantial issuer bid, we believe the share price does not accurately reflect the underlying value of the business.  Our objective through continued execution of our strategy is to eliminate the discount to underlying value.”

The Corporation has made payment for the Shares tendered and accepted for purchase by tendering the aggregate purchase price to TSX Trust Company, the depositary for the Offer (the “Depositary”), in accordance with the Offer and applicable laws and payment to the shareholders will be effected by the Depositary. Payment for Shares will be made in cash, without interest. Any Shares invalidly tendered or tendered and not purchased will be returned to the tendering shareholder promptly by the Depositary.

About Crown Capital Partners (TSX:CRWN)

Founded in 2000 within Crown Life Insurance Company, Crown Capital Partners is a leading specialty finance company operating in the distributed power and telecommunications infrastructure markets.  We focus on alternative asset classes that require a specialized capital partner, and we aim to create long-term value by acting as both a manager of investment funds for institutional partners and as a direct investor in operating businesses serving these markets. For additional information, please visit crowncapital.ca.

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 its plans to reduce capital allocated to alternative corporate financing and to redirect that capital toward strategic growth initiatives and the repurchase of shares through a normal course issuer bid. 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. 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.

For further information, please contact:

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

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Crown Capital Announces Final Results of its Substantial Issuer Bid2021-07-28T10:37:12-04:00