Business
Crown Capital Announces Repayment of Loan by Medicure Inc.
Crown Capital Announces Repayment of Loan by Medicure Inc. Canada NewsWire CALGA...
About this update from Crown Capital Partners, Inc.
[{"type":"text","content":"\n\n\n\nCrown Capital Announces Repayment of Loan by Medicure Inc.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Nov. 17, 2017\n\n\n\nCALGARY, Nov. 17, 2017 /CNW/ - Crown Capital Partners Inc. (\"Crown\" or the \"Corporation\") (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced the repayment by Medicure Inc. (\"Medicure\") (TSXV: MPH) of a special situations loan managed by Crown. \n\nMedicure is a pharmaceutical company focused on the development and commercialization of therapeutics for the U.S. cardiovascular market.  Crown arranged a $60.0 million, four-year term loan to Medicure in November 2016, of which Crown Capital Fund IV, LP (\"Crown IV LP\"), an investment fund managed by Crown in which Crown holds a 36.5% interest, advanced $30 million, with the remaining $30 million syndicated to a limited partner in Crown's funds. Medicure used the proceeds to purchase additional shares of Apicore, a developer and manufacturer of specialty Active Pharmaceutical Ingredients and pharmaceuticals. In October 2017, Medicure announced that it sold its interests in Apicore. \n\n\"The Apicore acquisition was a tremendous value-creating transaction for Medicure and we wish the team continued success as they advance their growth plans,\" said Chris Johnson, President and CEO of Crown. \"This loan generated strong returns for Crown and its investors.\"\n\n\"Crown has been an excellent financial partner to Medicure, and their financing solution and speed of execution were instrumental in allowing us to execute on this very successful acquisition while minimizing dilution,\" said Dr. Albert D. Friesen, Medicure's President and Chief Executive Officer.\n\nMedicure has prepaid this loan in full, including principal, interest and fees. Crown IV LP continues to own warrants to acquire 450,000 common shares of Medicure, exercisable at $6.50 per share.\n\nABOUT CROWN\n\nCrown (TSX: CRWN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies that...