Business
Crown Partners Fund Completes $5.5 Million Term Loan with Internet Service Provider CCI Wireless
Crown Partners Fund Completes $5.5 Million Term Loan with Internet Service Provider CCI Wi...
About this update from Crown Capital Partners, Inc.
[{"type":"text","content":"\n\n\n\nCrown Partners Fund Completes $5.5 Million Term Loan with Internet Service Provider CCI Wireless\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, March 27, 2020\n\n\n\nCALGARY, March 27, 2020 /CNW/ - Crown Capital Partners Inc. (\"Crown\" or the \"Corporation\") (TSX: CRWN), a capital partner to entrepreneurs and growth businesses, today announced that Crown Partners Fund, an investment fund managed by Crown and in which Crown holds an approximate 39% interest, has completed a two-year, $5.5 million term loan with CCI Wireless (\"CCI\"), a wireless internet service provider focused on Western Canada.  \nHeadquartered in Calgary, CCI specializes in providing internet connectivity to rural and remote residential clients as well as customized connectivity solutions for First Nations and urban and rural enterprise clients across Western Canada. CCI was founded in 2007 by nine Alberta natural gas co-ops that were receiving insufficient internet service from incumbent providers. CCI maintains a carrier-grade network that covers more than 250,000 square kilometers with over 23,000 clients. The funding from Crown Partners Fund will be used to repay existing debt and support CCI's growth plans.\n\"CCI has built a large, diverse and stable client base across western Canada by addressing the growing need for connectivity solutions to under-served regions,\" said Chris Johnson, Crown's President & CEO. \"This is a long-term growth theme we understand well from our current investment in telecommunications infrastructure and one we believe has considerable growth opportunity for Crown.\" \n\"In Crown, CCI has secured the ideal strategic partner to drive our growth strategy.  Crown's experience in the telecom infrastructure space in North America is an ideal fit for CCI; allowing us to expand on our success in deploying Carrier grade telecom solutions for underserved communities,\" said Jordan Young, CEO.\nThe demand for fixed internet across Canada has been growing as consumers and enterprises increasingly rely on internet connecti...