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Crown Capital Partners Announces Sale of Shares in Claude Resources
Crown Capital Partners Announces Sale of Shares in Claude Resources Crown Capital ...
About this update from Crown Capital Partners, Inc.
[{"type":"text","content":"\n\n\n\nCrown Capital Partners Announces Sale of Shares in Claude Resources\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.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n\n\n\n\n\n\nCrown Capital Partners Announces Sale of Shares in Claude Resources\nCanada NewsWire\nCALGARY, March 24, 2016\n\n\n\nCALGARY, March 24, 2016 /CNW/ - Crown Capital Partners Inc. (\"Crown\" or the \"Corporation\") (TSX: CRN), which provides growth capital to successful mid-market companies, today announced the disposition of all of the common shares (the \"Claude Shares\") of Claude Resources Inc. (\"Claude\") (TSX: CRJ) held by funds managed by Crown for total net proceeds of $5.3 million.  The Claude Shares were held in Norrep Credit Opportunities Fund II, LP and Norrep Credit Opportunities Fund II (Parallel), LP (collectively the \"NCOF Funds\").  Crown owns 69.75% of Norrep Credit Opportunities Fund II, LP and is manager of the NCOF Funds. The disposition of the Claude Shares is expected to result in a gain to Crown in the first quarter of 2016 of approximately $0.9 million, before income taxes and net of non-controlling interests, which will be recognized in the Corporation's Q1 2016 financial results. The NCOF Funds' realized Gross IRR on the Claude investment was approximately 19%.\n\nCrown completed a subordinated term loan with Claude in April 2013.  The NCOF Funds received the Claude Shares in 2014 for no cost in consideration for a forbearance agreement. On September 21, 2015, Claude prepaid the balance of this facility in full, including principal, interest and fees.  \n\nABOUT CROWNCrown (TSX: CRN) is a specialty finance company focused on providing capital to successful Canadian and 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...