Crown Capital Partners Announces Loan Repayments

About this update from Crown Capital Partners, Inc.

[{"type":"text","content":"CrownCapital-Repaymen\n \n \n \n Crown Capital Partners Announces Loan Repayments\n \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 Canada NewsWire\n \n \n CALGARY, AB, Oct. 2, 2020\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Oct. 2, 2020\n \n /CNW/ - Crown Capital Partners Inc. (\"Crown\") (TSX: CRWN), a capital partner to entrepreneurs and growth businesses, today announced it has received proceeds from two loans:\n \n \n \n Crown received full repayment by CCI Wireless (\"CCI\") of a\n \n $5.5 million\n \n term loan from Crown Partners Fund, following the recent acquisition of CCI by Xplornet Communications. CCI prepaid this loan in full, including principal, interest, fees and other payments. The CCI loan was held by Crown Partners Fund, an investment fund managed by Crown and in which Crown holds an effective interest of 39%. The realized Gross IRR on Crown Partners Fund's aggregate investment in CCI was 17.2%.\n \n \n Crown also received\n \n $7.0 million\n \n from Mill Street & Co. Inc. (\"Mill Street\"). In\n \n May 2018\n \n , Crown completed a\n \n $10 million\n \n , 10-year loan with Mill Street through Crown Private Credit Fund, a wholly owned subsidiary of Crown. As previously disclosed, Crown issued a formal demand for payment in the first quarter of 2020. Crown expects to realize further proceeds from Mill Street in late 2020 and early 2021.\n \n \n \n \"We congratulate the CCI team on this transaction and wish them continued success. While it was a short-term loan, this was another successful investment for the investors in Crown Partners Fund,\" said\n \n Chris Johnson\n \n , President and CEO of Crown. \"Consistent with our plan, the proceeds from these two realizations will be used to pursue strategic opportunities and rationalize our capital structure.\"\n \n \n \n About Crown Capital Partners (TSX:CRWN)\n \n \n Founded in 2000, Crown is a leading specialty finance company that provides growth capital to a diversified group of successful mid-market companies that are seeking alternatives to banks and private equity funds. Crown pr...

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