Aleksandar

CALGARY, May 8, 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 first quarter ended March 31, 2018. Crown’s complete financial statements and management’s discussion and analysis for the three-month period ended March 31, 2018 are available on SEDAR at www.sedar.com.

Q1 2018 Financial & Operating Highlights

• Total revenue of $5.3 million (2017 – $6.8 million), including interest revenue of $5.6 million (2017 – $4.4 million) and fees and other income of $0.2 million (2017 – $0.5 million), offset by a net change in unrealized gains in fair value of investments of $(0.5) million (2017 – $1.8 million).
• Net income, net of non-controlling interests, of $0.9 million (2017 – $1.7 million), or $0.09 per common share (basic) (2017 – $0.18).
• Adjusted EBIT² of $2.0 million, compared with $3.0 million in 2017.
• Total equity per common share (basic) of $10.88 at March 31, 2018, compared with $10.75 at March 31, 2017.
• Total assets of $225.2 million at March 31, 2018, up from $199.0 million at March 31, 2017.
• On March 2, 2018, paid a quarterly dividend of $0.15 per common share, an increase of 15% compared with the previous quarterly dividend of $0.13 per share.
• Crown Capital Fund IV, LP (“Crown IV LP”) and two syndicate partners provided a $33 million (Crown IV LP interest – $30 million), 60-month term loan to Baylin Technologies.
• On March 28, 2018, Crown announced that it had received from DBRS Limited (“DBRS”) its first rating by any rating agency. DBRS has assigned Crown a Long-Term Issuer Rating of BB (low) with a stable trend.
• Subsequent to quarter end, Crown IV LP completed a $12 million, 60-month term loan to DATA Communications Management Corp. (TSX:DCM).

“Our first quarter financial results were highlighted by the 27% increase in interest revenue, reflecting our success in building the investment portfolio over the past year,” said Chris Johnson, President and CEO of Crown. “This growing revenue base, combined with our positive outlook, enabled us to increase our quarterly dividend by an additional 15% – our third increase since the beginning of 2017. We have deployed $42 million to date this year in two high-quality companies and expect to finalize multiple transactions in the near term, which will drive increased revenue, cash flow and return on equity in 2018. Our transaction pipeline remains robust across multiple industries, highlighting the underlying demand in the middle market for intelligent, non-dilutive capital alternatives.”

Conference Call & Webcast

Crown will host a conference call to discuss its Q1 2018 financial results at 2:00 p.m. ET on May 8, 2018. The call will be hosted by Chris Johnson, President & CEO, and Michael Overvelde, CFO. To participate in the call, dial 647-427-7450 or 1-888-231-8191 using the conference ID 2177818. The audio webcast can be accessed at www.crowncapital.ca under Investor Relations or https://bit.ly/2qZrqcZ. Listeners should access the webcast or call 10-15 minutes before the start time to ensure they are connected.

ABOUT CROWN

Crown (TSX: CRWN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored special situation and long-term financing solutions to a diversified group of private and public mid-market companies in the form of loans, royalties and other structures with minimal or no ownership dilution.

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.

Download (pdf) 180.78 KB

CALGARY, May 8, 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 June 1, 2018 to all shareholders of record as of the close of business on May 18, 2018.

This dividend is designated by Crown 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

Crown (TSX: CRWN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored special situation and long-term financing solutions to a diversified group of private and public mid-market companies in the form of loans, royalties and other structures with minimal or no ownership dilution.

 Download (pdf) 69.84 KB

Financing supports acquisition of the Perennial Group of Companies

CALGARY, May 1, 2018 – Crown Capital Partners Inc. (“Crown”) (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced the closing of a $12.0 million term loan to DATA Communications Management Corp. (“DCM”) (TSX:DCM), a leading provider of integrated business communication solutions to companies across North America.

Founded in 1959, DCM’s core capabilities include direct marketing, commercial print services, labels and asset tracking, event tickets and gift cards, logistics and fulfilment, content and workflow management, data management and analytics, and regulatory communications. The company serves clients in key vertical markets such as financial services, retail, healthcare, lottery and gaming, not-for-profit, and energy. DCM is strategically located with six facilities across Canada to support clients on a national basis, and serves the U.S. market through facilities in Chicago, Illinois and New York, New York.

DCM will use part of the proceeds of the term loan to acquire the Perennial Group of Companies (the “Perennial Group”), which includes Perennial Inc., one of Canada’s leading design firms focused on creating and delivering design strategies for major retail brands in Canada and around the world, and The Finished Line Studios, an independent, multi-function creative, execution and production art studio.  The Perennial Group has a 25-year track record of retail strategy design and execution for many of North America’s top brands in the retail, financial services and consumer packaged goods markets.  Crown’s financing will also be used for debt repayment and general working capital purposes.

“DCM is a well-established company with a significant revenue base and history of strong free cash flow, and we are pleased to support them as they continue to expand through acquisition and transition to a marketing communications-focused provider,” said Chris Johnson, Crown’s President & CEO. “Among the reasons we like DCM is its diversified, blue-chip customer base – and its track record of retaining these customers. The Perennial acquisition brings additional high-quality customers and complementary capabilities to deliver design strategies for leading brands.”

“Crown’s non-dilutive financing was the right solution for DCM and we look forward to working with the Crown team as we execute on our growth plan,” said Michael Sifton, CEO of DCM. “The Perennial acquisition, combined with the acquisitions we completed in 2017 and positive sales momentum in our core business, bodes well for improved performance in 2018.”

The Agreement provides for a $12.0 million term loan to DCM by Crown Capital Fund IV, LP, an investment fund managed by Crown and in which Crown holds a 36.5% interest. The term loan bears a fixed interest rate of 10% per annum, matures in 60 months, and includes the issue to Crown of warrants to acquire 960,000 common shares of DCM.

ABOUT CROWN

Crown (TSX: CRWN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored special situation and long-term financing solutions to a diversified group of private and public mid-market companies in the form of loans, royalties and other structures with minimal or no ownership dilution.

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 using 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 outlook and future performance of DCM. 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 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.

 Download (pdf) 137.69 KB

CALGARY, April 25, 2018 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced the details of its 2018 first quarter financial results conference call and annual and special meeting of shareholders, which are being held on May 8, 2018.

Q1 2018 CONFERENCE CALL

ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

ABOUT CROWN

Crown (TSX: CRWN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored special situation and long-term financing solutions to a diversified group of private and public mid-market companies in the form of loans, royalties and other structures with minimal or no ownership dilution.

 Download (pdf) 71.95 KB

CALGARY, April 5, 2017 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced that it has received approval from the Toronto Stock Exchange (the “TSX”) to implement a normal course issuer bid (“NCIB”) for a 12-month period commencing April 10, 2018.

This NCIB will follow the current NCIB, which ends on April 9, 2018 and under which Crown purchased 80,074 shares at a volume-weighted average price per share of $9.68 up to March 31, 2018.

Under the terms of the NCIB, Crown will have the right to purchase up to 300,000 of its common shares (the “Shares”) representing approximately 5.5% of the public float of Shares and approximately 3.2% of the 9,484,167 issued and outstanding Shares. The number of Shares that can be purchased pursuant to the NCIB is subject to a daily maximum of 3,261 Shares, which is 25% of 13,044 (being the average daily trading volume for the Shares on the TSX for the six months ended March 31, 2018). Shares purchased by the Corporation pursuant to the NCIB will be cancelled. Purchases made pursuant to the NCIB will be made in the open market through the facilities of the TSX and alternative trading systems, if eligible. The NCIB will commence on April 10, 2018 and remain in effect until the earlier of April 9, 2019, the termination of the NCIB by Crown, and Crown purchasing the maximum number of Shares permitted under the NCIB.

Crown is commencing this NCIB because, in the opinion of the Corporation’s board of directors and senior management, the Shares continue to trade in a price range that does not adequately reflect the value of the underlying business. At December 31, 2017, Crown’s total equity per basic common share was $10.98.

ABOUT CROWN

Crown (TSX: CRWN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored special situation and long-term financing solutions to a diversified group of private and public mid-market companies in the form of loans, royalties and other structures with minimal or no ownership dilution.

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 potential future purchases of Shares. 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

 Download (pdf) 102.26 KB

Crown Capital Partners Assigned Issuer Rating by DBRS Limited

CALGARY, March 28, 2018 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced that DBRS Limited (DBRS) has assigned the Corporation a Long-Term Issuer Rating of BB (low) with a stable trend. This is Crown’s first rating by any credit rating agency.

“This initial credit rating represents another milestone for Crown and supports our objective to build and diversify our capital sources to provide additional avenues for growth,” said Chris Johnson, President and CEO of Crown. “We continue to experience strong demand for our investment strategies from institutional investors.  Having established an issuer rating for Crown, we can begin to access an additional level of capital from these investors.”

Refer to DBRS for additional details about the Rating Report.

ABOUT CROWN

Crown (TSX: CRWN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored special situation and long-term financing solutions to a diversified group of private and public mid-market companies in the form of loans, royalties and other structures with minimal or no ownership dilution.

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 Crown’s transaction pipeline and its plans to build and diversify capital sources. 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.

Download

CALGARY, March 6, 2018 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced the appointment of experienced financial services executive Larry Pollock to its Board of Directors.

Mr. Pollock was appointed as a Director and President and Chief Executive Officer of Canadian Western Bank (“CWB”) in 1990, where he had a distinguished 23-year career. During his time as CEO, CWB’s market capitalization grew from $16 million to $2.3 billion and its assets increased to $17 billion by the time of his retirement in 2013.

Mr. Pollock has extensive corporate governance experience. He is currently a trustee of Melcor REIT (TSX:MR.UN), and he has also served as the Chair of HNZ Group Inc. (TSX:HNZ) and a Director of Westjet Airlines Ltd. (TSX:WJA), EPCOR Utilities Inc. and Clark Builders.

“We are incredibly pleased to welcome Larry to Crown’s Board of Directors,” said Chris Johnson, President and CEO of Crown. “He is a highly accomplished executive with a deep understanding of the regulated financial services sector in Canada, including the lending business, and is a proven company-builder. Larry led CWB through a long period of growth, and his experience and insights will add tremendous value as we execute on our growth strategy.”

ABOUT CROWN

Crown (TSX: CRWN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored special situation and long-term financing solutions to a diversified group of private and public mid-market companies in the form of loans, royalties and other structures with minimal or no ownership dilution.

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.

Download

CALGARY, March 2, 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 fourth quarter and year ended December 31, 2017. Crown’s complete financial statements and management’s discussion and analysis for the three- and twelve-month periods ended December 31, 2017 are available on SEDAR at www.sedar.com.

2017 Financial & Operating Highlights

• Total revenue of $29.0 million, an increase of 58% from $18.4 million in 2016.
• Net income, net of non-controlling interests, of $6.7 million (2016 – $5.1 million), or $0.71 per common share (basic) (2016 – $0.54).
• Adjusted EBIT¹ of $11.5 million, up by 28% from $9.0 million in 2016.
• Crown Capital Fund IV, LP (“Crown IV LP”), an investment fund managed by Crown in which Crown holds an effective 36.5% interest, deployed $113.6 million in 2017, including $18.2 million that was redeployed into a new investment in RBee Aggregate Consulting Ltd. (“RBee”).
• Total equity per common share (basic) increased to $10.98 at year-end (2016 – $10.67).
• Total assets of $229.1 million at December 31, 2017, up from $182.4 million at December 31, 2016.
• Dividends paid in 2017 totaled $0.50 per share.

Q4 2017 Financial & Operating Highlights

• Total revenue of $8.9 million, a 65% increase from $5.4 million in 2016.
• Net income, net of non-controlling interests, of $2.1 million (2016 – $0.9 million), or $0.22 per common share (basic) (2016 – $0.09).
• Adjusted EBIT¹ of $3.4 million, an increase of 90% from $1.8 million in 2016.
• On December 1, 2017 paid a quarterly dividend of $0.13 per common share.
• Announced progress on the realization of loans to Petrowest Corporation (“Petrowest”) and that Crown now expects CCF IV LP to recover, through its ownership interest in and loan to RBee and from other cash proceeds on the sale of Petrowest’s assets, the full amount of its outstanding loan to Petrowest in addition to all interest and certain fees receivable from Petrowest.
• In addition to its new investment in RBee, Crown IV LP deployed $15 million in the quarter through two transactions:
  • $8 million term loan to Canadian Helicopters Limited
  • $7 million term loan to Active Exhaust Corp.
• Subsequent to quarter end, Crown Fund IV and two syndicate partners provided a $33 million (Crown Fund IV interest – $30 million), 60-month term loan to Baylin Technologies and Crown announced a quarterly dividend of $0.15 per common share, payable on March 2, 2018.

“It was solid fourth quarter financially and operationally, highlighted by 65% growth in revenue, a 90% increase in Adjusted EBIT, and three new investments,” said Chris Johnson, President and CEO of Crown. “In addition to the six new companies we added to the portfolio in 2017, we made important progress with the realization of our loans to Petrowest and started 2018 with a $33 million loan to Baylin.”

Mr. Johnson added: “In 2018, our focus is to continue to build a diversified portfolio of high-quality businesses, which will drive both short-term and longer-term revenue for Crown. Entrepreneurs need intelligent, non-dilutive capital alternatives, and Crown has an exceptional platform to serve their needs. We continue to see strong demand and a healthy transaction pipeline for 2018. As we deploy more capital, we are well positioned to grow revenue, cash flow and return on equity while increasing our quarterly dividend to shareholders. We recently moved the dividend to $0.15 per share – a 36% increase since the start of 2016. The demand from mid-market borrowers is matched by continued strong demand from institutional investors for Crown IV LP and, generally, for access to private credit. These conditions support our objective to further build and diversify our capital base this year.”

1. Adjusted EBIT 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 this measure may differ among companies and analysts. Adjusted EBIT is calculated by Crown as earnings before non-cash share-based compensation, finance costs and income taxes less net income and comprehensive income attributable to non-controlling interests. The Corporation has provided a reconciliation of earnings before income taxes to Adjusted EBIT in this news release. The Corporation believes Adjusted EBIT is a useful supplemental measure that may assist investors in assessing the financial performance and the cash anticipated to be generated by Crown’s business. Adjusted EBIT 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 to discuss its Q4 2017 financial results at 8:30 a.m. EDT on March 2, 2018. The call will be hosted by Chris Johnson, President & CEO, and Michael Overvelde, CFO. To participate in the call, dial 647-427-7450 or 1-888-231-8191 using the conference ID 2786778. The audio webcast can be accessed at www.crowncapital.ca under Investor Relations or http://bit.ly/2sjbKF7. Listeners should access the webcast or call 10-15 minutes before the start time to ensure they are connected.

ABOUT CROWN

Crown (TSX: CRWN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored special situation and long-term financing solutions to a diversified group of private and public mid-market companies in the form of loans, royalties and other structures with minimal or no ownership dilution.

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.

Download