Business
Crown Capital Partners Completes $10 Million Long-Term Loan with WireIE
Crown Capital Partners Completes $10 Million Long-Term Loan with WireIE Canada New...
About this update from Crown Capital Partners, Inc.
[{"type":"text","content":"\n\n\n\nCrown Capital Partners Completes $10 Million Long-Term Loan with WireIE\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, May 23, 2018\n\n\n\nCALGARY, May 23, 2018 /CNW/ - Crown Capital Partners Inc. (\"Crown\") (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced the closing of a $10 million long-term loan (the \"Agreement\") to WireIE (Canada) Inc. (\"WireIE\"), an Ontario-based Canadian network operator that specializes in the deployment and management of carrier-grade data networks across Canada and internationally to under-served communities in rural and remote areas. WireIE builds, owns, and operates the data networks for its blue-chip customers in the telecom carrier, oil and gas, utility, and government industries.\n\nFounded in 2007, WireIE's core value proposition is to provide large telecom carriers with the ability to deliver high quality network services to their commercial customers in rural or remote areas without having to build and manage circuits. WireIE has partnerships with Canada's leading national carriers. The company's services address a large and growing market, with recent US and Canadian government legislation mandating high-speed broadband as an essential service. The new minimum service standards recently defined by the Canadian Radio-television and Telecommunications authority result in greater than 20% of the population falling below the minimum requirements.\n\n\"We're pleased to support WireIE as they build out their network to capitalize on the opportunity created by increasing customer demand and the new minimum service standards implemented by the CRTC,\" said Chris Johnson, Crown's President & CEO. \"WireIE has established strong relationships with blue-chip national customers, providing high-quality cash flow and significant revenue visibility, which created an attractive and unique opportunity to structure this transaction as an income streaming facility.\"\n\n\"Crown customized a financing solution that provides us with the flexibility to accelerate our...