Aleksandar

About Aleksandar Antic

This author has not yet filled in any details.
So far Aleksandar Antic has created 212 blog entries.

Crown Capital Announces Dividend Policy and Declares First Dividend

CALGARY, January 5, 2016 – Crown Capital Partners Inc. (“Crown” or “the Company”) (TSX: CRN), which provides growth capital to successful mid-market companies, today announced that its Board of Directors has approved the initiation of a quarterly cash dividend of $0.11 per common share. Concurrently, the Company declared its first dividend of $0.11 per common share, payable on January 29, 2016 to all shareholders of record as of the close of business on January 18, 2016.

“Establishing a dividend was an important objective from the initial public offering and reflects the continued execution of the plan we articulated to shareholders,” said Chris Johnson, Crown’s President & CEO. “We continue to deploy capital in high-quality mid-market companies, and expect to return a substantial portion of our cash flow to our shareholders through dividends.”

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

ABOUT CROWN

 Crown (TSX: CRN) is a specialty finance company focused primarily on providing capital to successful Canadian and select U.S. companies which are unwilling or unable to obtain suitable financing from traditional capital providers such as banks and private equity funds. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored transitory and permanent 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. To find out more about Crown, please visit www.crowncapital.ca.

 

FORWARD-LOOKING STATEMENTS

This 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 with respect to Crown’s future cash flows and earnings, future dividends, transaction pipeline, and the Corporation’s business plans and strategy. 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. In addition, Crown’s dividend policy will be reviewed from time to time in the context of the Company’s earnings, financial requirements for Crown’s operations, and other relevant factors and the declaration of a dividend will always be at the discretion of the Board of Directors. Shareholders will be entitled to receive dividends only when any such dividends are declared and there is no entitlement to any dividend prior thereto. 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

 

 Download (pdf) 227.74 KB

Subscribe to our newsletter to get the latest news and insights right in your inbox.

Subscribe
© 2021 Crown Capital Partners Inc.
Terms of UsePrivacy Policy

Crown Capital Announces Dividend Policy and Declares First Dividend2021-01-18T19:53:57-05:00

Crown Capital Completes $25 Million Term Loan with PenEquity Realty Corporation

Represents Crown’s first Long-Term Financing Transaction

CALGARY, December 16, 2015 – Crown Capital Partners Inc. (“Crown” or “the Company”) (TSX: CRN), which provides growth capital to successful mid-market companies, today announced the closing of a $25 million, 10-year term loan (the “Agreement”) with PenEquity Realty Corporation (“PenEquity”), a privately owned, full-service real estate company focused on commercial shopping centres in Ontario. This Agreement will be funded from Crown’s cash resources and represents the first loan under Crown’s Long-term Financing solutions line of business.

Founded in 1984, PenEquity has a strong track record of delivering successful retail sites across Ontario, having completed numerous projects representing more than 4.2 million square feet. Specializing in large-scale destination retail/entertainment centres as well as commercial and residential land development, PenEquity has developed a stable of key relationships with leading retailers and partners, including Choice Properties REIT, Longo’s and EPR Properties. In addition to the development of real estate assets on behalf of clients, PenEquity provides property, advisory and asset management services. PenEquity currently has seven projects underway (representing approximately two million square feet of development), two of which have commenced with others expected to begin in the next 12 months.

“We’re delighted to begin a relationship with PenEquity and support their growth plans,” said Chris Johnson, Crown’s President & CEO. “The company has a highly successful track record spanning more than 30 years and is led by a seasoned team of professionals. As their new projects are completed, they are well positioned to generate significant value from multiple revenue streams.”

Mr. Johnson added: “We see significant opportunity in the Canadian market to provide long-term financing to successful businesses like PenEquity. Our solutions offer business owners the capital to grow their company independently and without equity dilution, while providing Crown with attractive recurring cash flow.”

“The team at Crown clearly understands the needs of entrepreneurial-minded growth businesses like ours, and we’re pleased to partner with them as we bring multiple new projects on stream and build on our long history of delivering quality results for our clients, partners and tenants,” said David Johnston, President & CEO of PenEquity.

The specific financial terms of the Agreement have not been disclosed for confidentiality reasons, but are consistent with Crown’s stated return objectives for long-term transactions.

 Download (pdf) 107.50 KB

Subscribe to our newsletter to get the latest news and insights right in your inbox.

Subscribe
© 2021 Crown Capital Partners Inc.
Terms of UsePrivacy Policy

Crown Capital Completes $25 Million Term Loan with PenEquity Realty Corporation2021-01-18T19:53:59-05:00

Crown Capital Completes Subordinated Debt Agreement with Distinct Infrastructure Group

CALGARY, November 25, 2015 – Crown Capital Partners Inc. (“Crown”) (TSX: CRN) today announced the closing of a $20 million term loan agreement (the “Agreement”) with Distinct Infrastructure Group Inc. (“Distinct”) (TSXV: DUG).

Headquartered in Toronto, Distinct is a utility and telecom infrastructure contractor with capabilities in design, engineering, construction, service & maintenance, and materials management. Distinct’s goal is to be the premier infrastructure provider for Canadian utilities, municipal and provincial governments. Distinct’s clients currently consist of blue-chip telecommunications and utility infrastructure companies throughout Ontario, including Bell and Rogers.

“Crown is pleased to provide financing to Distinct at an important point in its growth trajectory,” said Chris Johnson, President and CEO of Crown. “The Canadian telecommunications industry is commencing a major infrastructure expansion phase, with multi-billion-dollar high-speed fiber installation projects to be completed over the next several years. As one of the few turnkey contractors with broad capabilities and a national footprint, Distinct is uniquely positioned to capitalize on this expansion. Distinct has demonstrated high growth over the past five years and operates in a robust and expanding industry.”

The Agreement provides for a $20 million term loan to Distinct by Crown Capital Fund IV, LP (“Crown IV LP”), an investment fund managed by Crown and in which Crown holds a 50% interest. The term loan bears a fixed interest rate of 10% per annum, compounded and payable monthly, and matures in 60 months. Distinct has the right to prepay the loan after 18 months, subject to a prepayment fee. In addition, Distinct has granted 8,000,000 common shares to Crown IV LP.

“This capital supports our plans to expand Distinct ’s capacity in Ontario and western Canada to meet strong demand for our services and continue our rapid growth,” said Joe Lanni, Co-CEO Distinct. “Crown’s solution was a great fit for Distinct and we look forward to our partnership with them,” said Alex Agius, CoCEO.

ABOUT CROWN

Crown (TSX: CRN) is a specialty finance company focused primarily on providing capital to successful Canadian and select U.S. companies which are unwilling or unable to obtain suitable financing from traditional capital providers such as banks and private equity funds. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored transitory and permanent 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. To find out more about Crown, please visit www.crowncapital.ca.

FORWARD-LOOKING STATEMENTS

This 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 with respect to the Canadian telecommunications industry; Distinct’s expansion and growth plans; and the Corporation’s business plans and strategy. 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. 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:

For Crown Capital:

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

For Distinct:

Manny Bettencourt CFO
Distinct Infrastructure Group Inc.
Manny.bettencourt@diginc.ca
416.675.5332

Download (pdf) 21.52 KB

Subscribe to our newsletter to get the latest news and insights right in your inbox.

Subscribe
© 2021 Crown Capital Partners Inc.
Terms of UsePrivacy Policy

Crown Capital Completes Subordinated Debt Agreement with Distinct Infrastructure Group2021-01-18T19:54:01-05:00

Crown Capital Partners Announces Q3 2015 Results

CALGARY, November 10, 2015 – Crown Capital Partners Inc. (“Crown”) (TSX: CRN) today announced its financial and operational results for the third quarter ended September 30, 2015. Crown became a reporting issuer on June 30, 2015 and closed its initial public offering (“IPO”) on July 9, 2015. The common shares of Crown (the “Shares”) trade on the Toronto Stock Exchange (“TSX”) under the symbol TSX:CRN.

“Over the past 15 years, we have deployed more than $350 million in over 30 special situations private debt transactions, producing an enviable track record for unitholders through various economic conditions,” said Chris Johnson, President & CEO. “With the proceeds of our IPO and a public listing, we are significantly expanding our platform. We are targeting both short-term and long-term investment opportunities using a combination of third-party capital and proprietary capital. This model gives us greater scalability and should enable us to build a strong and growing base of recurring cash flows for our shareholders.”

Mr. Johnson added: “In the third quarter, we completed the initial closing of our special situations fund and our first financing by this fund – two important milestones. “In addition, we had two successful exits on loans made by the NCOF Funds. As we look to redeploy this capital and put new capital to work, market conditions are favourable and our pipeline of potential transactions is strong. Recently, we added three senior professionals who increase our capacity to originate, underwrite and manage new transactions. Crown is focused on a segment of the market – successful businesses in the mid-market – where there is an ongoing funding gap, and this is more pronounced during periods in the cycle when many traditional capital providers pull back. As we continue to execute on our plan and put capital to work, we expect to generate growing cash flow, implement a dividend, and build long-term value for our shareholders.”

Q3 2015 Operating Highlights

  • On July 9, 2015, immediately prior to the IPO, Crown acquired approximately 69.75% of the outstanding units of Norrep Credit Opportunities Fund II, LP (“NCOF II”) in exchange for 3,214,494 Shares valued at $35,359,423 (the “Rollover Transaction”). All of NCOF II’s investments are made on a pari passu basis with Norrep Credit Opportunities Fund II (Parallel), (together with NCOF II, the “NCOF Funds”).

NCOF II’s pro rata ownership of the NCOF Funds investments is 76.87%. At the time of the Rollover Transaction, the NCOF Funds held interests in five investee companies including loans to four investees, publicly-traded common shares of two investees and warrants of one privately-held investee.

  • On September 23, 2015, Crown announced the closing of the special situations debt fund, Crown Capital Fund IV, LP (“CCF IV LP”), with initial capital commitments of $100 million. CCF IV LP’s limited partners, including Crown’s wholly-owned subsidiary, Crown Capital Funding Corporation (“CCFC”), contributed a total of $15 million for the initial capitalization of CCF IV LP with further capital calls to be made as new investments are made. CCF IV LP will invest in special situations financing transactions (generally consisting of senior and subordinated loans with terms ranging from six months to five years) originated and managed by Crown. Crown, through CCFC, currently holds a 50% interest in CCF IV LP.
  • On September 29, 2015, CCF IV LP closed its first special situations financing transaction by providing a $15 million subordinated term loan to Petrowest Corporation (TSX:PRW”) (“Petrowest”). The loan bears a fixed interest rate of 11% per annum, compounded and payable monthly, and matures in 36 months. Petrowest also issued 4,300,000 common share purchase warrants to CCF IV LP.
  • The NCOF Funds had two successful exits in the third quarter of 2015 on prepayments:
    • In December 2013, the NCOF Funds provided a $10.0 million debt facility to Questrade Inc. (“Questrade”). On July 24, 2015, Questrade prepaid this facility in full, including bonus interest and unwinding and redeployment fees totaling $2.2 million.
    • In April 2013, the NCOF Funds provided a $25.0 million debt facility to Claude Resources Inc.

(TSX:CRJ) (“Claude”). The NCOF Funds received 4,545,454 common shares of Claude in 2014 (the “Claude Shares”) for no cost in consideration for a forbearance agreement. On September 21, 2015, Claude prepaid this debt facility in full, including unwinding and redeployment fees of $199,000. The Claude Shares were still owned by the NCOF Funds at September 30, 2015.

  • Subsequent to quarter end, Crown added significant depth and strength to its team with the additions of Tim Oldfield as Senior Vice President, Chief Investment Officer, Brian Mellum as Senior Vice President, Energy, and David Turnbull as Senior Vice President, Business Development.

Q3 2015 Financial Summary

Three Months Ended
September 30June 30March 31
201520152015
Revenue$1,920,876$273,121$257,783
Total comprehensive income (loss), net of non-controlling interest$395,220$(42,423)$220
Total comprehensive income(loss)/share – basic1$0.05$(0.13)$-
Total comprehensive income(loss)/share – diluted1$0.04$(0.13)$-
Investments, at fair value through profit or loss$36,401,906$-$-
Total Assets$114,296,590$7,200,015$4,368,382
Total Equity$97,257,858$728,149$103,972
Total Equity per Share – basic$10.25$2.00$0.34

1. Total comprehensive income (loss)/share, basic and diluted, are based on the weighted average shares outstanding and reflect the 3,030:1 share split which occurred on June 30, 2015.

For the three and nine month periods ended September 30, 2015, Crown earned management fees primarily for the provision of investment management services to the NCOF Funds and Norrep Credit Opportunities Fund, LP. With the closing of CCF IV LP on September 23, 2015, Crown is also providing investment management services to this new limited partnership. Total assets under management at September 30, 2015 were approximately $54.0 million. Crown accounts for NCOF II and CCF IV LP as controlled subsidiaries and intercompany transactions, including management fees, are eliminated on consolidation.

Crown’s complete financial statements and management’s discussion and analysis for the three and nine month periods ended September 30, 2015 are filed on SEDAR at www.sedar.com.

Quarterly Results Summary

Q3 2015 revenues were $1,920,876, compared with $365,513 in the same period last year. Revenues were higher in 2015 primarily due to the acquisition of a 69.75% interest in NCOF II on July 9, 2015. The acquisition resulted in the inclusion of Interest for Distribution Purposes and Financing Fees and Other Income earned by NCOF II during the three months ended September 30, 2015.

For the three months ended September 30, 2015, Crown earned Total Comprehensive Income of $756,484. The Rollover Transaction resulted in a Non-controlling Interest in NCOF II of approximately 30.25%. Through CCFC’s subscription for 50,000 units of CCF IV LP, Crown acquired a 50% interest in CCF IV LP, resulting in a Non-controlling Interest in CCF IV LP of 50%. For the three months ended September 30, 2015, Total Comprehensive Income Attributable to Shareholders of Crown was $395,220 and Total Comprehensive Income Attributable to Non-controlling Interests was $361,264.

Cash and Cash Equivalents at September 30, 2015 totaled $76,039,710, compared with $2,722,124 at December 31, 2014. The increase in Cash and Cash Equivalents was primarily the combined result of the receipt of proceeds of the IPO, the sale of shares of CRH Medical Corporation held by the NCOF Funds and the repayment of the NCOF Funds loans to Questrade and Claude.

Conference Call & Webcast

Crown will host a conference call to discuss its Q3 2015 financial results at 9:00 a.m. EDT on November 10, 2015. The call will be hosted by Chris Johnson, President & CEO, and Lyle Bolen, CFO. To participate in the call, dial 647-427-7450 or 1-888-231-8191 using the conference ID 71304283. The webcast can be accessed at http://bit.ly/1LYL1M8. Listeners should access the webcast or call 10-15 minutes before the start time to ensure they are connected.

ABOUT CROWN

Crown (TSX: CRN) is a specialty finance company focused primarily on providing capital to successful Canadian and select U.S. companies which are unwilling or unable to obtain suitable financing from traditional capital providers such as banks and private equity funds. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored transitory and permanent 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. To find out more about Crown, please visit www.crowncapital.ca.

FORWARD-LOOKING STATEMENTS

This 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 include, but are not limited to, statements with respect to the investments of CCF IV LP in Special Situations Financing transactions and the potential structuring of such transactions; the sourcing of deals from Crown’s established network and its potential pipeline of projects; the Corporation’s business plans and strategy; the Corporation’s future cash flow, potential dividend implementation and shareholder value; and the future capitalization of CCF IV LP and future closings in relation thereto. 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. 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

Additional information relating to Crown is available on SEDAR at www.sedar.com.

Download (pdf) 453.34 KB

Subscribe to our newsletter to get the latest news and insights right in your inbox.

Subscribe
© 2021 Crown Capital Partners Inc.
Terms of UsePrivacy Policy

Crown Capital Partners Announces Q3 2015 Results2021-01-18T19:54:04-05:00

Crown Capital Partners Adds Three Senior Professionals to Support Growth

CALGARY, November 5, 2015 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRN) today announced it has added significant depth and experience to its team with the additions of three senior financial industry professionals: Tim Oldfield as Senior Vice President, Chief Investment Officer, Brian Mellum as Senior Vice President, Energy and David Turnbull as Senior Vice President, Business Development.

Tim Oldfield has joined Crown as Senior Vice President, Chief Investment Officer, assuming responsibility for investment underwriting and portfolio management. Mr. Oldfield has over 15 years of experience in transaction due diligence, mergers & acquisitions, capital advisory, financial analysis and modeling, and business valuations. He joins Crown from Grant Thornton LLP, where he was a Partner in the Corporate Finance group leading the due diligence team in Southern Ontario. In addition to obtaining his CA/CPA designation, Mr. Oldfield holds the Chartered Financial Analyst (CFA) and Chartered Business Valuator (CBV) designations.

Brian Mellum joins Crown in the newly created role of Senior Vice President, Energy based in Crown’s Calgary office. Mr. Mellum was a co-founder and Chief Operating Officer of Toscana Capital Corporation, a Calgary-based merchant banking firm specializing in mezzanine debt financing to mid-size private and public companies in Western Canada. During his 11 years at Toscana, the company completed more than 100 financing transactions with aggregate capital deployed in excess of $400 million. Toscana was acquired by Sprott Inc. in 2012. Previous roles include multiple positions with National Bank of Canada over an 11-year period, including Senior Manager of the Corporate & Energy lending group. Mr. Mellum holds a BComm (Finance and Marketing) from the University of Calgary and also holds the CFA designation.

David Turnbull joins Crown’s Toronto office in the role of Senior Vice President, Business Development. Most recently, Mr. Turnbull served as Vice President and Head of Private Company Advisory for Manulife Capital Markets where he led the team focused on institutional private placements of debt and equity and mergers & acquisitions advisory services. Previously, he was President & CEO at Arch Capital, which provided private placements and mergers and acquisitions advisory to businesses with sales of $20 to $250 million. Mr. Turnbull obtained his BA (Economics) from the University of Western Ontario, an MBA from the Richard Ivey School of Business and holds the CFA designation.

“Tim, Brian and David are highly respected professionals who bring a wealth of knowledge and experience to our firm,” said Chris Johnson, President & CEO of Crown. “Their extensive transaction expertise and deep relationships in the mid-market strengthen our ability to originate, underwrite and manage new transactions and position Crown for significant growth.”

ABOUT CROWN

Crown (TSX: CRN) is a specialty finance company focused primarily on providing capital to successful Canadian companies, and to select U.S. companies, that are unwilling or unable to obtain suitable financing from traditional capital providers such as banks and private equity funds. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored transitory and permanent 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. To find out more about Crown, please visit our website www.crowncapital.ca.

For further information, please contact:

Christopher Johnson President & CEO

chris.johnson@crowncapital.ca

(416) 640-6715

Craig Armitage Investor Relations

craig.armitage@loderockadvisors.com

(416) 347-8954

Additional information relating to the Corporation is available on SEDAR at www.sedar.com.

Download (pdf) 49.70 KB

Subscribe to our newsletter to get the latest news and insights right in your inbox.

Subscribe
© 2021 Crown Capital Partners Inc.
Terms of UsePrivacy Policy

Crown Capital Partners Adds Three Senior Professionals to Support Growth2021-01-18T19:54:06-05:00

Crown Capital Partners Inc. Announces Closing Of A Subordinated Debt Agreement With Petrowest Corporation

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

CALGARY, AB – September 29, 2015 – Crown Capital Partners Inc. (“Crown”) (TSX: CRN) today announced the closing of a subordinated debt agreement (the “Agreement”) with Petrowest Corporation (“Petrowest”) (TSX: PRW).

The Agreement provides for a $15 million term loan to Petrowest by Crown Capital Fund IV, LP (“Crown IV LP”), an investment fund managed by Crown and in which Crown holds a 50% interest. The term loan bears a fixed interest rate of 11% per annum, compounded and payable monthly, and matures in 36 months. Petrowest has the option to prepay certain amounts within certain periods of time with or without a penalty.

Under the terms of the Agreement, Petrowest has granted to Crown IV LP 4,300,000 warrants. Each warrant entitles Crown IV LP to purchase one class A common share in the capital of Petrowest at an exercise price of $0.40 for a period of five years.

Petrowest is an Alberta corporation involved in both industrial and civil infrastructure projects, as well as pre-drilling and post-completion energy services, gravel crushing and hauling for non-energy sector customers. Petrowest’s primary operations are based in northwestern Alberta and northeastern British Columbia.

“Crown is pleased to provide Petrowest with additional financial flexibility at a time when Petrowest is poised to take advantage of increased development activity in British Columbia. Based on past experience working with Petrowest, we have great respect for Petrowest’s management and are confident in their ability to continue to grow the company” says Chris Johnson, President and CEO of Crown.

“Petrowest is excited to have completed this transaction. Crown is a proven business partner with a strong understanding of our business and the opportunities quickly approaching” says Rick Quigley, Petrowest’s Chief Executive Officer.

ABOUT CROWN

Crown is a specialty finance company focused primarily on providing capital to successful Canadian companies, and to select U.S. companies, that are unwilling or unable to obtain suitable financing from traditional capital providers such as banks and private equity funds. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored transitory and permanent financing solutions to a diversified group of private and public midmarket companies in the form of loans, royalties and other structures with minimal or no ownership dilution.

For further information, please contact:

Christopher Johnson
President & CEO
chris.johnson@crowncapital.ca (416) 640-6715

To find out more about Crown (TSX: CRN) please visit our website www.crowncapital.ca.

Download (pdf) 7.23 KB

Subscribe to our newsletter to get the latest news and insights right in your inbox.

Subscribe
© 2021 Crown Capital Partners Inc.
Terms of UsePrivacy Policy

Crown Capital Partners Inc. Announces Closing Of A Subordinated Debt Agreement With Petrowest Corporation2021-01-18T19:54:09-05:00

Crown Capital Partners Inc. Announces Closing of Crown Capital Fund IV, LP

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

CALGARY, AB – September 24, 2015 – Crown Capital Partners Inc. (“Crown”) (TSX: CRN) today announced the closing of its fourth special situations debt fund, Crown Capital Fund IV, LP (“Crown IV LP” or the “Fund”) with initial capital commitments of $100 million. The Fund’s initial limited partners, including Crown, will contribute a total of $15 million for the initial capitalization of the Fund with further capital calls to be made as funds are required.

Crown IV LP will invest in Special Situations Financing transactions originated and managed by Crown. Crown’s Special Situations Financing solutions consist of senior and subordinated loans with terms ranging from six months to five years. These financing solutions are typically secured by the borrower client’s business and assets, subject to prior interests of any existing senior lenders in the case of subordinated loans. Special Situations Financing solutions are structured to limit ownership dilution and provide the borrower client with the ability to focus on managing and growing their business. In some transactions, Crown also structures Special Situations Financing solutions to include issuance by the borrower client of warrants, payments in kind, phantom equity or gifted shares. Such bonus features provide the Fund with the ability to participate in the growth of such clients in addition to income from interest payments and transaction fees received from the borrower client.

Crown IV LP has a maximum size of $300 million, with additional closings to occur within the next three years as opportunities are identified to fund Special Situations Financing transactions. Crown has committed to invest up to $50,000,000 to Crown IV LP and will initially hold a 50% interest in the Fund. In addition to investment returns on its capital commitment, Crown will earn management fees from Crown IV LP and have the opportunity to earn additional fees based on the performance of the Fund.

“The timing for Crown Capital Fund IV, LP couldn’t be better” says Chris Johnson, President and CEO of Crown, “We have an active pipeline of investment opportunities, many of which arise from the ongoing volatility in financial markets. We would like to thank the initial limited partners for their continued support of our business.”

ABOUT CROWN

Crown is a specialty finance company focused primarily on providing capital to successful Canadian companies, and to select U.S. companies, that are unwilling or unable to obtain suitable financing from traditional capital providers such as banks and private equity funds. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored transitory and permanent financing solutions to a diversified group of private and public midmarket companies in the form of loans, royalties and other structures with minimal or no ownership dilution.

FORWARD-LOOKING STATEMENTS

This 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 include, but are not limited to, statements with respect to the initial capitalization of the Fund, the investments of Crown

IV LP in Special Situations Financing transactions and the potential structuring of such transactions, the sourcing of deals from Crown’s established network, the future capitalization of the Fund and future closings; and Crown’s future entitlement to base management and performance fees. 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 Corporation’s periodic filings with Canadian securities regulators. The Corporation 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:

Christopher Johnson President & CEO

chris.johnson@crowncapital.ca

(416) 640-6715

To find out more about Crown (TSX: CRN) please visit our website www.crowncapital.ca.

Download (pdf) 10.51 KB

This entry was posted on .

Subscribe to our newsletter to get the latest news and insights right in your inbox.

Subscribe
© 2021 Crown Capital Partners Inc.
Terms of UsePrivacy Policy

Crown Capital Partners Inc. Announces Closing of Crown Capital Fund IV, LP2021-01-18T19:54:12-05:00

Crown Capital Partners Announces Repayment Of Loan To Claude Resources Inc.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

CALGARY, AB – September 21, 2015 – Crown Capital Partners Inc. (“Crown”) (TSX: CRN) today announced the repayment by Claude Resources Inc. (TSX: CRJ; OTCQB: CLGRF) of a special situations loan managed by Crown.

Claude Resources Inc. (“Claude”) is a public gold exploration and mining company based in Saskatoon, Saskatchewan with an asset base located entirely in Canada. As part of Crown’s special situations financing program, in April 2013, Crown arranged a $25.0 million, five year, debt facility for Claude. On September 21, 2015, Claude prepaid the balance of this facility in full, including principal, interest and fees.

“Crown provided Claude with financing before the global unwind of the commodity cycle. While the price of gold is no doubt important to Claude, the success of the company is attributed to the quality of the management team and the resource in Northern Saskatchewan. Claude’s strong performance has attracted a new senior secured credit facility with a Canadian chartered bank and we wish Claude every success in the future.” says Chris Johnson, President and CEO of Crown.

ABOUT CROWN

Crown is a specialty finance company focused primarily on providing capital to successful Canadian companies, and to select U.S. companies, that are unwilling or unable to obtain suitable financing from traditional capital providers such as banks and private equity funds. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored transitory and permanent financing solutions to a diversified group of private and public midmarket companies in the form of loans, royalties and other structures with minimal or no ownership dilution.

For further information, please contact:

Christopher Johnson President & CEO
chris.johnson@crowncapital.ca (416) 640-6715
To find out more about Crown (TSX: CRN) please visit our website www.crowncapital.ca.

Download (pdf) 5.77 KB

This entry was posted on .

Subscribe to our newsletter to get the latest news and insights right in your inbox.

Subscribe
© 2021 Crown Capital Partners Inc.
Terms of UsePrivacy Policy

Crown Capital Partners Announces Repayment Of Loan To Claude Resources Inc.2021-01-18T19:54:14-05:00

Crown Capital Partners Inc. Announces Appointment of New Director

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND

DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

CALGARY, August 6, 2015

Crown Capital Partners Inc. (“Crown” or the “Corporation“) (TSX: CRN) today announced the appointment of C. Robert Gillis, CPA, CA to its board of directors.

Mr. Gillis is Chief Operating Officer with Thornridge Holdings Limited, a private holding company with interests in High Liner Foods Inc., Envirosystems Inc., Annapolis Group Inc., and Glen Arbour Golf Course. Rob also serves as Chairman and CEO of Hawthorne Capital Inc. and as a Director of several subsidiary companies within the Group. Hawthorne is a mid-market merchant bank focused on acquiring and growing established enterprises, primarily in Atlantic Canada. Mr. Gillis also has professional practice experience in assurance and business advisory services including business valuations, forensic accounting and litigation support.

“We are delighted to have Rob as a new director and are confident his background and experience will greatly contribute to Crown as it implements its business plan as a newly-listed public company” said George Fowlie, Crown’s chairman.

ABOUT CROWN

Crown is a specialty finance company focused primarily on providing capital to successful Canadian companies and to select U.S. companies that are unwilling or unable to obtain suitable financing from traditional capital providers such as banks and private equity funds. 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. Such financing solutions allow business owners to retain the vast majority of the economic rewards associated with the ownership of their respective businesses.

For further information, please contact:

Christopher Johnson President & CEO

chris.johnson@crowncapital.ca (416) 640-6715

To find out more about Crown (TSX: CRN) please visit our website www.crowncapital.ca.

Additional information relating to the Corporation is available on SEDAR at www.sedar.com.

Download (pdf) 14.55 KB

This entry was posted on .

Subscribe to our newsletter to get the latest news and insights right in your inbox.

Subscribe
© 2021 Crown Capital Partners Inc.
Terms of UsePrivacy Policy

Crown Capital Partners Inc. Announces Appointment of New Director2021-01-18T19:54:17-05:00

Crown Capital Partners Inc. Announces Results for the Three and Six Months Ended June 30, 2015

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESAND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

CALGARY, August 6, 2015

Crown Capital Partners Inc. (“Crown” or the “Corporation“) (TSX: CRN) today announced its results for the three and six months ended June 30, 2015

As previously announced, Crown became a reporting issuer on the Toronto Stock Exchange (“TSX”) on June 30, 2015. On July 9, 2015, pursuant to an underwriting agreement, the Corporation issued 5,910,000 common shares in an initial public offering (the “IPO”) priced at $11.00 per share, resulting in gross proceeds of $65,010,000. Net proceeds of the offering are estimated to be approximately $60,000,000 after payment of underwriters’ commission and offering expenses. Crown began trading on July 9, 2015 under the symbol TSX:CRN.

Immediately prior to closing of the IPO, the Corporation acquired approximately 69.8% of the limited partnership units of Norrep Credit Opportunities Fund II, LP (“NCOF II”) in exchange for 3,214,494 common shares of Crown valued at $35,359,423. Crown is also the manager of NCOF II.

The financial results announced today relate to the period prior to closing the IPO. Additional information about the Corporation, the IPO and the transaction with NCOF II can be found in the Corporation’s initial public offering prospectus dated June 30, 2015 (the “Prospectus”).

The Corporation provides investment management services to three limited partnerships, with total assets under management at June 30, 2015 of approximately $85.0 million. The Corporation earns management fees pursuant to management agreements with the limited partnerships.

Revenues of $273,121 and $530,904 were recognized in the three and six months ended June 30, 2015, respectively. Crown incurred losses before income taxes of $49,910 and $49,651 in the three and six months ended June 30, 2015, respectively.

Three Months Ended
June 30March 31
20152015
Revenue$273,121$257,783
Total comprehensive income (loss)$(42,423)$220
Weighted average shares outstanding1$330,303$303,000
Total comprehensive income (loss)/share $$(0.13)$0.00

1. Weighted average shares outstanding reflects the 3,030:1 share split which occurred on June 30, 2015.

“The current market conditions are very favourable for Crown’s non-dilutive structured loans. We are delighted to have completed the IPO in July and look forward to executing on the business plan as detailed in the Prospectus” said Chris Johnson, President & CEO.

ABOUT CROWN

Crown is a specialty finance company focused primarily on providing capital to successful Canadian companies and to select U.S. companies that are unwilling or unable to obtain suitable financing from traditional capital providers such as banks and private equity funds. 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. Such financing solutions allow business owners to retain the vast majority of the economic rewards associated with the ownership of their respective businesses.

FORWARD-LOOKING STATEMENTS

This 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 include, but are not limited to, statements with respect to the use of proceeds. 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 Corporation’s periodic filings with Canadian securities regulators. The Corporation 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: Christopher Johnson

President & CEO

chris.johnson@crowncapital.ca (416) 640-6715

To find out more about Crown (TSX: CRN) please visit our website www.crowncapital.ca.

Additional information relating to the Corporation is available on SEDAR at www.sedar.com.

Download (pdf) 19.24 KB

This entry was posted on .

Subscribe to our newsletter to get the latest news and insights right in your inbox.

Subscribe
© 2021 Crown Capital Partners Inc.
Terms of UsePrivacy Policy

Crown Capital Partners Inc. Announces Results for the Three and Six Months Ended June 30, 20152021-01-18T19:54:20-05:00