Aleksandar

CALGARY, ALBERTA, December 29, 2023 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN) today announces that it has entered into an agreement with Canadian Western Bank (“CWB”) which amends the terms of the Corporation’s credit facility with CWB as follows: (i) reducing the maximum amount of the Corporation’s operating loan limit from $10,000,000 to $5,000,000; (ii) providing for the operating loan limit to be calculated with the inclusion of $2,130,000 on a non-margined basis until February 29, 2024, which effectively provides $2,130,000 in additional funding to the Corporation until February 29, 2024; and (iii) grants CWB additional security on two real estate properties owned by the Corporation in Ontario. Crown will continue to
present the outstanding balance of its credit facility with CWB as a current liability as at December 31, 2023.

In addition, the Corporation announces that it has completed a non-brokered private placement offering (the “Offering”) of 1,500 units of the Corporation (“Units”) at a price of $980 per Unit for gross proceeds of $1,470,000. Each Unit is comprised of one 10% redeemable secured subordinated debenture of the Corporation (each a “Debenture”) in the principal amount of $1,000 due June 30, 2025 (the “Maturity Date”) and 50 common share (“Share”) purchase warrants of the Corporation (each a “Warrant”). Each Warrant entitles the subscriber to purchase one Share at an exercise price of $7.00 per Share, subject to adjustment in certain events, at any time on or before the date that is 36 months from the date of issuance of the Warrant.

The net proceeds received by the Corporation from the Offering will be used for general working capital purposes.

The Debentures bear interest at a rate of 10% per annum from the date of issue, payable in arrears semi-annually on June 30 and December 31 of each year, commencing on June 30, 2024. The principal amount of each Debenture, plus all accrued and unpaid interest thereon, shall be redeemable, in whole or in part, at the option of the Corporation at any time after six months from the date of issuance and prior to the Maturity Date.

Each of the following insiders of the Corporation participated in the Offering directly or through corporations controlled by them or through persons related to them: John Brussa, Chris Johnson, Alan Rowe, Steven Sharpe, C. Robert Gillis and Charles Frischer. These insiders purchased all of the Units sold pursuant to the Offering (the “Insider Subscriptions”). The Insider Subscriptions are considered to be a “related party transaction” for the purposes of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). In accordance with MI 61-101, the Corporation is not required to obtain a formal valuation or minority approval of the Offering due to the fact that it may rely on an exemption to those requirements contained in MI 61- 101, namely that the fair market value of the Offering is not more than 25% of the market capitalization of the Corporation.

All securities issued in connection with the Offering are subject to a hold period of four-months and one day in Canada.

The final closing of the Offering is subject to receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.

The Corporation also announces that Charles Frischer has been appointed to the board of directors of the Corporation. Mr. Frischer has been the general partner of LFF Partners, a family office based in Seattle, since 2004 and previously served as a Principal at Zephyr Management LP, a New York-based private equity firm, and as a Senior Vice President at Capri Capital. Mr. Frischer graduated from Cornell University in 1988 with a BA in government. He and his wife currently own approximately 11% of the outstanding Shares of Crown.

“We welcome Charlie to Crown’s Board of Directors”, said Alan Rowe, Chair of Crown. “Charlie has a broad skill set that will serve us well as we continue to build out the Crown Capital platform.”

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. These securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.

About Crown Capital Partners (TSX:CRWN)

Founded in 2000 within Crown Life Insurance Company, Crown Capital Partners is a capital partner to entrepreneurs and growth businesses mainly operating in the telecommunications infrastructure, distribution services, and distributed power markets. We focus on growth industries that require a specialized capital partner, and we aim to create long-term value by acting as both a direct investor in operating businesses serving these markets and as a manager of investment funds for institutional partners. 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 closing of the Offering and the use of the proceeds of the Offering. 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:
Michael Overvelde
Chief Financial Officer
investor.relations@crowncapital.ca
(416) 640-6887

CALGARY, AB, November 9, 2023 /CNW/ – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN) today announced its financial results for the three and nine months ended September 30, 2023. Crown’s complete financial statements and management’s discussion and analysis are available on SEDAR at www.sedar.com.

Q3 2023 Financial & Operating Highlights

• Network Services revenue was $7.8 million, a $0.3 million increase from the $7.5 million in Q3 2022, with the commencement of new projects at Community Network Partners being offset by declines in the revenues of WireIE and Galaxy. The Network Services segment contributed a net loss before income taxes of $(1.1) million, inclusive of depreciation and amortization expense totaling $0.7 million and accrued restructuring costs of $0.5 million. This compares with net income before income taxes of $1.1 million in Q3 2022. The reduction in profitability in this segment is due to both an ongoing contraction of WireIE’s business and the wind-down of certain high-margin contracts at Galaxy, with multiple growth initiatives within its Community Network Partners and Galaxy subsidiaries still at early stages of ramping up.
• Distribution Services revenue of $8.9 million was consistent on a quarter-over-quarter basis and increased by 28% compared with Q3 2022 due primarily to increased capacity utilization and customer activity levels at facilities that commenced operations in 2022. This segment reported a net loss before income taxes of $(0.4) million, inclusive of depreciation expense totaling $1.4 million. Capacity utilization was 70% at September 30, 2023, consistent with June 30, 2023 and compared with 39% at December 31, 2022. Crown expects capacity utilization to be higher in Q4 2023 and to increase significantly in 2024 leading to a material increase in the revenue and operating earnings from this segment.
• In Q3 2023, Crown’s share of earnings of Crown Partners Fund totaled $0.2 million (Q3 2022 – $0.1 million), including $0.01 million in respect of Crown’s general partnership interest as a result of an increase in the accrued performance bonus payable to Crown by the fund and $0.2 million in respect of Crown’s limited partnership interest. Compared with June 30, 2023, the carrying value of Crown’s investment in Crown Partners Fund increased by $0.1 million to $24.1 million.
• Crown reported a net loss of $(1.8) million ($0.32 loss per basic share) in Q3 2023, compared with a net loss of $(2.1) million ($0.38 loss per basic share) in Q3 2022.
• Total equity at quarter-end was $46.6 million, down from $50.7 million at the end of 2022, reflecting the net loss attributable to shareholders in the first nine months of 2023. Total equity per share was $8.33 per basic share, compared with $8.98 as at December 31, 2022.
• As at September 30, 2023, the Corporation did not satisfy certain financial covenant clauses of its credit agreement with its bank. Accordingly, the bank is contractually entitled to request immediate repayment of the outstanding loan in the amount of $24.5 million and the outstanding balance is presented as a current liability as at September 30, 2023. The Corporation’s Bank has not requested early repayment of the loan. Management is renegotiating the terms of the credit agreement and expects that revised terms will be in place in Q4 2023.

“Q3 2023 was clearly a disappointing quarter for the Corporation. The transition of Galaxy’s customer base to new low earth orbit satellites has taken longer and has been more competitive than we had anticipated. We still see great potential in this technology and are expecting to make meaningful progress over the next year. Somewhat countering the softness in the satellite division, our fibre projects continue to move along well and our outlook on this division continues to improve. Our distribution services business is also coming along well with profitability increasing at all but one of our facilities. Our focus continues to be on filling our available capacity, and the current pipeline of new customers is strong. Finally, our real estate business continues to make progress on our two residential developments; albeit, the residential market in Ontario remains soft,” said Chris Johnson, President and CEO of Crown.

Q3 2023 Financial Results Summary

About Crown Capital Partners (TSX:CRWN)

Founded in 2000 within Crown Life Insurance Company, Crown Capital Partners is a capital partner to entrepreneurs and growth businesses mainly operating in the telecommunications infrastructure, distribution services, and distributed power markets. We focus on growth industries that require a specialized capital partner, and we aim to create long-term value by acting as both a direct investor in operating businesses serving these markets and as a manager of investment funds for institutional partners. 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 distribution services market, the network services market and the general economy, Crown’s business plans and strategy, including expected growth in revenue and profitability from its Network Services and Distribution Services segments. 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:

Michael Overvelde
Chief Financial Officer
investor.relations@crowncapital.ca
(416) 640-6887

CALGARY, August 10, 2023 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN) today announced its financial results for the three and six months ended June 30, 2023. Crown’s complete financial statements and management’s discussion and analysis are available on SEDAR at www.sedar.com.

Q2 2023 Financial & Operating Highlights

• Network Services revenue was $6.4 million, consistent with $6.4 million in Q2 2022, with the commencement of new projects at Community Network Partners being offset by declines in the revenues of WireIE and Galaxy. The Network Services segment contributed net income before income taxes of $0.5 million, inclusive of depreciation and amortization expense totaling $0.7 million. This compares with net income before income taxes of $1.0 million in Q2 2022. The reduction in profitability in this segment is due to both an ongoing contraction of WireIE’s business and the wind-down of certain high-margin contracts at Galaxy, with multiple growth initiatives within its Community Network Partners and Galaxy subsidiaries still at early stages of ramping up.
• Distribution Services revenue was $8.9 million, an increase of 6% compared with Q1 2023, due primarily to increased capacity utilization and customer activity levels at facilities that commenced operations in 2022. This segment reported a net loss before income taxes of $1.2 million, inclusive of depreciation expense totaling $1.3 million. Overall capacity utilization continues to increase and was 70% at the end of Q2 2023, compared to 53% in Q1 2023 and 39% in Q4 2022. Crown expects capacity utilization to increase significantly in 2023 leading to a material increase in the revenue and operating earnings from this segment.
• In Q2 2023, Crown’s share of earnings of Crown Partners Fund totaled $0.9 million (Q2 2022 – $0.3 million), including $0.3 million in respect of Crown’s general partnership interest as a result of an increase in the accrued performance bonus payable to Crown by the fund and $0.6 million in respect of Crown’s limited partnership interest. Compared with March 31, 2023, the carrying value of Crown’s investment in Crown Partners Fund decreased by $3.1 million as a result of $4.0 million (i.e., Crown’s share) of distributions in respect of loan repayments within the Fund.
• Crown reported a net loss of $1.2 million ($0.21 loss per basic share) in Q2 2023, compared with a net income of $0.5 million ($0.08 income per basic share) in Q2 2022. The reduction in net income compared with the prior year period is the result of losses from Distribution Services during the ramp up of its operations, slightly lower earnings from Network Services and higher finance costs due to a higher level of debt, partially offset by a higher share of earnings of Crown Partners Fund.
• Total equity at quarter-end was $48.6 million, down from $50.7 million at the end of 2022, reflecting the net losses attributable to shareholders in the first six months of 2023. Total equity per share was $8.66 per basic share, compared with $8.98 as at December 31, 2022.
• On May 16, 2023, the holders of Crown’s convertible debentures approved an extraordinary resolution approving a package of amendments to the terms of the convertible debentures, including an extension of the maturity date to December 31, 2024, an increase in the interest rate from 6% to 10%, a removal of conversion rights and a removal of Crown’s ability to repay principal in common shares.

“Our Network Services and Distribution Services businesses continue to advance their growth initiatives, which should translate to meaningful increases in revenues and profits in both segments. We have a significant pipeline of fibre optic projects that, as they are constructed, will add new customers and contribute to revenue and profit growth for years to come. Similarly, in our Go Direct business, we continue to add both new customers and warehouse capacity while improving warehouse utilization, which we expect will directly translate into growing revenues and profits” said Chris Johnson, President and CEO of Crown.

Q2 2023 Financial Results Summary

Conference Call & Webcast

Crown will host a conference call and webcast to discuss its Q2 2023 financial results at 10:00 a.m. ET on August 11, 2023. The call will be hosted by Chris Johnson, President & CEO, and Michael Overvelde, CFO. To participate in the call, dial (416) 764-8650 or (888) 664-6383 using the conference ID 50976765. 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 capital partner to entrepreneurs and growth businesses mainly operating in the telecommunications infrastructure, distribution services, and distributed power markets. We focus on growth industries that require a specialized capital partner, and we aim to create long-term value by acting as both a direct investor in operating businesses serving these markets and as a manager of investment funds for institutional partners. 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 distribution services market, the network services market and the general economy, Crown’s business plans and strategy, including expected growth in revenue and profitability from its Network Services and Distribution Services segments. 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
craig.armitage@crowncapital.ca
(416) 347-8954

CALGARY, August 1, 2023 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN) today announced it will host a conference call to discuss its 2023 second quarter financial results on August 11, 2023 at 10:00 a.m. EST. The call will be hosted by Chris Johnson, President and Chief Executive Officer, and Michael Overvelde, Chief Financial Officer.

Q2 2023 CONFERENCE CALL

DATE:                                      Friday, August 11, 2023

TIME:                                       10:00 a.m. EST

DIAL IN NUMBER:                (416) 764-8650 or (888) 664-6383

CONFERENCE ID:                  50976765

REPLAY:                                 (416) 764-8677 or (888) 390-0541 (playback code: 976765)

Available until midnight (EST) August 18, 2023

WEBCAST:                              The audio webcast can be accessed at www.crowncapital.ca under

Investor Relations or at https://app.webinar.net/p0lNegn4qAb

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

For further information, please contact:

Craig Armitage
Investor Relations
craig.armitage@crowncapital.ca
(416) 347-8954

Toronto, July 17, 2023 – Community Network Partners Inc. (CNPI), a subsidiary of Crown Capital

Partners Inc. (TSX: CRWN), is proud to announce an innovative collaboration with YTN Telecom Network Inc. (YorkNet), a corporation of The Regional Municipality of York (York Region), aimed at financing, constructing, and operating an advanced optical fibre network to provide high-speed internet in York Region.

“This transformative initiative is made possible through the combined investment of CNPI and York Region, in addition to funding support provided by each of the Government of Canada and the Province of Ontario, which together represents an aggregate contribution of more than $120 million to this important infrastructure project,” said Jon D’Alessandro, President of CNPI.

In connection with its broadband strategy across York Region, which involves making high-speed internet access available to residents, businesses, and public-sector partners such as municipalities, hospitals, and schools, YorkNet has forged a strategic partnership with CNPI, a leading provider of private and open-access broadband networks.

“CNPI brings an innovative approach to financing and ensures long-term success of community projects,” said D’Alessandro. “We will leverage industry-leading technical expertise and our proven track record of building and maintaining reliable and secure networks across Canada to provide best-in-class internet services in York Region.”

CNPI will invest a total of $15 million over the next four years in connection with this partnership and expects to achieve an addressable market of approximately 14,000 customers.

The collaboration between CNPI and YorkNet will empower York Region to deliver cutting-edge broadband internet services to all corners of the community, including rural and underserved areas. By leveraging the strengths of both organizations, this partnership will drive innovation, economic growth, and educational advancements throughout the Region.

“Together, CNPI and YorkNet are committed to bridging the digital divide, fostering inclusivity, and empowering individuals and businesses to thrive in the digital age.”

About Community Network Partners Inc.:

Community Network Partners Inc. (CNPI) is a leading provider of state-of-the-art, private, and open access broadband networks in underserved areas across Canada. With extensive experience in network development, financing, and operations, CNPI delivers reliable and secure broadband solutions, fostering long-term success for the communities it serves. For more information, please visit cnpartners.ca.

About YorkNet:

YTN Telecom Network Inc. (YorkNet) is a wholly owned subsidiary of The Regional Municipality of York, entrusted with the strategic planning, management, and development of the York Telecom Network. Committed to expanding high-speed internet access, YorkNet collaborates with public and private partners to improve connectivity, drive innovation, and support the Region’s growth. For more information, please visit www.york.ca/yorknet.

For further information, please contact:

Jon D’Alessandro
President, Community Network Partners Inc.
jon.dalessandro@cnpartners.ca
(416) 684-9411

CALGARY, ALBERTA, June 30, 2023 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN) today announced that the following amendments (the “Debenture Amendments”) to its 6% convertible unsecured subordinated debentures due June 30, 2023 (the “Debentures”) previously announced by the Corporation on April 11, 2023, April 26, 2023 and May 16, 2023 are effective today:

1. Extending the maturity date of the Debentures from June 30, 2023 to December 31, 2024;

2. Amending the interest rate on the Debentures from 6% to 10%;

3. Removing the conversion right of the holders of Debentures; and

4. Removing the right of the Corporation to repay the principal amount of the Debentures in common shares of the Corporation on the new maturity date or any redemption date.

Commencing today, the existing Debentures will cease trading on the TSX under the trading symbol “CRWN.DB” and the amended Debentures (the “Amended Debentures”) will commence trading on the TSX under the new trading symbol “CRWN.NT”.

Crown has entered into an amended and restated trust indenture dated today with TSX Trust Company governing the Amended Debentures (the “Amended and Restated Indenture”). A copy of the Amended and Restated Indenture is located on the Corporation’s profile on SEDAR at www.sedar.com.

About Crown Capital Partners (TSX:CRWN)

Founded in 2000 within Crown Life Insurance Company, Crown Capital Partners is a capital partner to entrepreneurs and growth businesses mainly operating in the telecommunications infrastructure, distribution services, and distributed power markets. We focus on growth industries that require a specialized capital partner, and we aim to create long-term value by acting as both a direct investor in operating businesses serving these markets and as a manager of investment funds for institutional partners. 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 Debenture Amendments. 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
craig.armitage@crowncapital.ca
(416) 347-8954

CALGARY, ALBERTA, May 16, 2023 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN) today announced that at a special meeting of the holders (the “Debentureholders”) of its 6% convertible unsecured subordinated debentures due June 30, 2023 (the “Debentures”) held today, the Debentureholders approved an extraordinary resolution approving the previously announced amendments to the Debentures (the “Debenture Amendments”).

As previously announced, the Debenture Amendments will result in the following changes to the Debentures:

1. Extending the maturity date of the Debentures from June 30, 2023 to December 31, 2024;

2. Amending the interest rate on the Debentures from 6% to 10%;

3. Removing the conversion right of the Debentureholders; and

4. Removing the right of the Corporation to repay the principal amount of the Debentures in common shares of the Corporation on the new maturity date or any redemption date.

A description of the Debenture Amendments is set out in the Corporation’s management information circular dated April 12, 2023 and available under the Corporation’s profile on SEDAR at www.sedar.com.

Debentureholders owning 59.275% of the outstanding Debentures voted. The detailed results of the vote were as follows:

Any Debentureholder that voted for the Debenture Amendments will receive a cash consent fee of $10 per $1,000 principal amount of Debentures held by the Debentureholder as of April 6, 2023 provided that the Debenture Amendments are validly approved by the Toronto Stock Exchange (the “TSX”).

The effective date of the Debenture Amendments will be June 30, 2023. Crown will enter into an amended and restated trust indenture to the current trust indenture between TSX Trust Company governing the Debentures to effect the Debenture Amendments.

The TSX has conditionally approved the Debenture Amendments. The Debenture Amendments remain subject to the final approval of the TSX.

About Crown Capital Partners (TSX:CRWN)

Founded in 2000 within Crown Life Insurance Company, Crown Capital Partners is a capital partner to entrepreneurs and growth businesses mainly operating in the telecommunications infrastructure, distribution services, and distributed power markets. We focus on growth industries that require a specialized capital partner, and we aim to create long-term value by acting as both a direct investor in operating businesses serving these markets and as a manager of investment funds for institutional partners. 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 Debenture Amendments. 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:

CALGARY, May 10, 2023 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN) today announced its financial results for the three months ended March 31, 2023. Crown’s complete financial statements and management’s discussion and analysis are available on SEDAR at www.sedar.com.

Q1 2023 Financial & Operating Highlights

• Network Services revenue was $7.3 million, an increase of 10% compared with $6.6 million in Q4 2022, largely due to the commencement of new projects at Community Network Partners, offset by a decline in the revenues of WireIE. The Network Services segment contributed net income before income taxes of $0.8 million, inclusive of depreciation expense totaling $0.7 million. This compares with net income before income taxes, excluding $0.6 million of accrued decommissioning costs, of $0.2 million in Q4 2022. The suppressed level of profitability in this segment in recent quarters has been consistent with expectations as the WireIE business is contracting and the growth initiatives in Community Network Partners and Galaxy’s recently announced expansion of low Earth orbit connectivity solutions are in the early stages.

• Distribution Services revenue was $8.4 million, an increase of 28% compared with Q4 2022, due primarily to increased capacity utilization and customer activity levels at facilities that commenced operations in 2022 and to contractual price increases that came into effect on January 1, 2023. This segment contributed a net loss before income taxes of $0.9 million, inclusive of depreciation expense totaling $1.3 million and a $0.6 million non-recurring gain resulting from the remeasurement of certain long-term debt. Overall capacity utilization was 53% compared to 39% in Q4 2022. Crown expects capacity utilization to increase significantly in 2023 leading to a material increase in the revenues and profitability of this segment.

• In Q1 2023, Crown’s share of earnings of Crown Partners Fund totaled $1.4 million (Q4 2022 – loss of $(0.7) million), including $0.4 million in respect of Crown’s general partnership interest as a result of an increase in the accrued performance bonus payable to Crown by the fund and $1.0 million in respect of Crown’s limited partnership interest. The carrying value of Crown’s investment in Crown Partners Fund decreased by $7.5 million in Q1 2023 as a result of the declaration of $8.9 million (i.e., Crown’s share) of distributions in respect of loan repayments within the Fund.

• Crown reported a net loss of $0.7 million ($0.13 loss per basic share) in Q1 2023, compared with a net loss of $2.6 million ($0.38 loss per basic share) in Q1 2022.

• Total equity at quarter-end was $49.9 million, down from $50.7 million at the end of 2022, reflecting the net loss attributable to shareholders in Q1 2023. Total equity per share decreased to $8.85 per basic share from $8.98 as at December 31, 2022.

• Crown entered an agreement for a new senior secured corporate credit facility of up to $43.5 million with Canadian Western Bank.

• Subsequent to quarter end, Crown announced it is seeking the approval of the holders of its 6% convertible unsecured subordinated debentures to amend certain terms of such debentures, as set out in its press release dated April 11, 2023 and in the management information circular relating to the special meeting of debentureholders, which is available at www.sedar.com. The board of directors of Crown believe that these amendments would be beneficial to debentureholders and to the Corporation. “We continue to make progress with our two main platforms – Network Services and Distribution Services – with both divisions securing new contracts and customers” said Chris Johnson, President and CEO of Crown. “We expect revenues and profits from these two divisions to increase significantly in 2023, as well as modest contributions to revenue and profitability from Crown’s other operating divisions. We are also focused on 2 generating liquidity from our investment portfolio with the proceeds to be used to repay the convertible debentures as well as return additional capital to shareholders.”

Q1 2023 Financial Results Summary

Conference Call & Webcast

Crown will host a conference call and webcast to discuss its Q1 2023 financial results at 11:30 a.m. ET on May 11, 2023. The call will be hosted by Chris Johnson, President & CEO, and Michael Overvelde, CFO. To participate in the call, dial (416) 764-8650 or (888) 664-6383 using the conference ID 84346037. 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 capital partner to entrepreneurs and growth businesses mainly operating in the telecommunications infrastructure, distribution services, and distributed power markets. We focus on growth industries that require a specialized capital partner, and we aim to create long-term value by acting as both a direct investor in operating businesses serving these markets and as a manager of investment funds for institutional partners. 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 distribution services market, the network services market and the general economy, 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
craig.armitage@crowncapital.ca
(416) 347-8954

CALGARY, May 3, 2023 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN) today announced it will host a conference call to discuss its 2023 first quarter financial results on May 11, 2023 at 11:30 a.m. EST. The call will be hosted by Chris Johnson, President and Chief Executive Officer, and Michael Overvelde, Chief Financial Officer.

Q1 2023 CONFERENCE CALL

DATE:                                      Thursday, May 11, 2023

TIME:                                       11:30 a.m. EST

DIAL IN NUMBER:                (416) 764-8650 or (888) 664-6383

CONFERENCE ID:                  84346037

REPLAY:                                 (416) 764-8677 or (888) 390-0541 (playback code: 346037)

Available until midnight (EST) May 18, 2023

WEBCAST:                              The audio webcast can be accessed at www.crowncapital.ca under

Investor Relations or at https://app.webinar.net/VaZKJ8XJbn9

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

For further information, please contact:

Craig Armitage

Investor Relations

craig.armitage@crowncapital.ca

(416) 347-8954

• Any Debentureholder that votes for the Debenture Amendments will receive a cash consent fee of $10 per $1,000 principal amount of Debentures held by the Debentureholder.
• The deadline to submit vote is May 12, 2023, on or before 10:00 a.m. (Eastern Time).
• Debentureholders who have questions or need assistance with voting may contact Crown Capital’s strategic communications and proxy solicitation agent, Laurel Hill Advisory Group (“Laurel Hill”) by telephone at 1-877-452-7184 or by email at assistance@laurelhill.com.

CALGARY, April 26, 2023 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN) today announced that it has mailed an information circular and related meeting materials (the “Meeting Materials”) in connection with the upcoming special meeting of the holders (the “Debentureholders”) of its 6% convertible unsecured subordinated debentures due June 30, 2023 (the “Debentures”) to be held at the offices of the Corporation, 33 Yonge Street, Suite 901, Toronto, ON, M5E 1G4, on May 16, 2023 at 10:00 a.m. (Eastern Time) (the “Meeting”).

At the Meeting, Debentureholders will be asked to consider and vote upon certain amendments to the terms of the Debentures (the “Debenture Amendments”), which will be voted on as a package and consist of:

1. Extending the maturity date of the Debentures from June 30, 2023 to December 31, 2024;

2. Amending the interest rate on the Debentures from 6% to 10%;

3. Removing the conversion right of the Debentureholders; and

4. Removing the right of the Corporation to repay the principal amount of the Debentures in common shares of the Corporation (“Common Shares”) on the new maturity date or any redemption date.

If the Debenture Amendments are approved, the board of directors of the Corporation believe that the Debenture Amendments will provide the following advantages:

1. Extension of Maturity Date: The extension of the maturity date will afford Debentureholders a longer period of time during which to receive interest at a favourable rate.
2. Increased Interest Rate: Increasing the interest rate from 6% to 10% provides an attractive yield to Debentureholders.
3. Removal of Share Repayment Right: The Corporation will no longer have the right to repay the principal amount on the Debentures, in whole or in part, in Common Shares on the new maturity date or any redemption date.
4. Consent Fee: Any Debentureholder that votes for the Debenture Amendments will receive a cash consent fee (the “Consent Fee”) of $10 per $1,000 principal amount of Debentures held by the Debentureholder as of April 6, 2023 (the “Record Date”) provided that certain other conditions required for the payment of the Consent Fee are satisfied, including that the Debenture Amendments are validly approved by Debentureholders and the Toronto Stock Exchange (the “TSX”).

The Debenture Amendments will provide additional short term capital for Crown while it completes sales of assets, including the continued liquidation of the remaining assets of its specialty finance segment, which should provide sufficient funds to repay the Debentures in cash. Provided that the Debenture Amendments are approved, it is the intention of management of Crown to use some or all of the proceeds of such asset sales to fund the redemption of some or all of the Debentures as soon as these proceeds become available.

The effective date of the Debenture Amendments will be June 30, 2023.

Management recommends that the Debentureholders vote for the resolution which authorizes and approves the Debenture Amendments.

The Debenture Amendments will only be effective if passed by an extraordinary resolution of the holders of at least 66⅔% of the principal amount of the Debentures present in person or by proxy at the Meeting and entitled to vote in respect of the Debenture Amendments.

The TSX has conditionally approved the Debenture Amendments. The Debenture Amendments remain subject to the final approval of the TSX.

In the event that the Debenture Amendments are not approved by Debentureholders and the TSX, the Debentures will mature on June 30, 2023 and the Corporation will consider the alternatives available to it to address the maturity of the Debentures. The options may include arranging for alternate debt financing in order to fund the pay-out in cash of the principal amount and/or satisfying the obligation to pay the amount owing on maturity, in whole or in part, through the issuance of Common Shares.

Debentureholders may vote on or before 10:00 a.m. (Eastern Time) on May 12, 2023 by following the voting instructions set out in the information circular of the Corporation dated April 12, 2023 with respect to the Meeting. Only Debentureholders of record at the close of business on the Record Date will be entitled to vote at the Meeting.

Crown has retained Laurel Hill as the Corporation’s strategic communications and proxy solicitation agent to, among other things, assist in the solicitation of proxies. For these services, the Corporation will pay Laurel Hill an advisory fee of $30,000, in addition to certain out-of-pocket expenses. The Corporation may use Broadridge Financial Solutions Inc.’s QuickVote™ service to assist beneficial Debentureholders with voting. The Corporation’s proxy solicitation agent, Laurel Hill, may contact certain beneficial Debentureholders who have not objected to the Corporation knowing who they are (non-objecting beneficial owners, or “NOBOs”) to conveniently obtain a vote directly over the telephone.

Debentureholder Questions

Debentureholders who have any questions or require assistance with voting may contact the Corporation’s strategic communications and proxy solicitation agent:

Laurel Hill Advisory Group

Toll Free: 1-877-452-7184 (for Debentureholders in North America)

International: +1 416-304-0211 (for Debentureholders outside Canada and the US)

By Email: assistance@laurelhill.com

Copies of the Meeting Materials mailed to Debentureholders have been filed under the Corporation’s profile on SEDAR at www.sedar.com.

About Crown Capital Partners (TSX:CRWN)

Founded in 2000 within Crown Life Insurance Company, Crown Capital Partners is a capital partner to entrepreneurs and growth businesses mainly operating in the telecommunications infrastructure, distribution services, and distributed power markets. We focus on growth industries that require a specialized capital partner, and we aim to create long-term value by acting as both a direct investor in operating businesses serving these markets and as a manager of investment funds for institutional partners. 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 Debenture Amendments, the timing and value of potential asset sales, and management’s intended uses of the proceeds of asset sales. 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: